Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2013

Table Text Block [Abstract]

Schedule of Derivative Instruments

				2013			2014
				Settlement			Settlement
Natural Gas
	Two-Way Collars (thousand MMBtu/d)				600	(1)		—
		Average price per MMBtu
			Ceiling sold price (call)	$	4.00		$	—
			Floor purchased price (put)	$	3.18		$	—
	Three-Way Collars (thousand MMBtu/d)				—	(2)		200
		Average price per MMBtu
			Ceiling sold price (call)	$	—		$	5.00
			Floor purchased price (put)	$	—		$	3.75
			Floor sold price (put)	$	—		$	2.75
	Fixed-Price Contracts (thousand MMBtu/d)				1,185			—
		Average price per MMBtu		$	4.00		$	—
Crude Oil
	Three-Way Collars (MBbls/d)				26			—
		Average price per barrel
			Ceiling sold price (call)	$	125.15		$	—
			Floor purchased price (put)	$	105.00		$	—
			Floor sold price (put)	$	85.00		$	—
	Fixed-Price Contracts (MBbls/d)				108			—
		Average price per barrel		$	102.50		$	—

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(1)The two-way collars have a contract term of April 2013 to October 2013.

(2)The Company entered into offsetting purchased and sold natural-gas three-way collars of 450,000 MMBtu/dfor 2013settlement.

MMBtu—million British thermal units

MMBtu/d—million British thermal units per day

MBbls/d—thousand barrels per day

millions except percentages		Reference Period		Weighted-Average
Notional Principal Amount		Start	End	Interest Rate
$	750	June 2014	June 2024	6.00	%
$	1,100	June 2014	June 2044	5.57	%
$	50	September 2016	September 2026	5.91	%
$	750	September 2016	September 2046	5.86	%

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location

		Gross				Gross
		Derivative Assets				Derivative Liabilities
millions		March 31,		December 31,		March 31,		December 31,
Balance Sheet Classification		2013		2012		2013		2012
Commodity derivatives
	Other current assets	$	43	$	475	$	(20)	$	(197)
	Other assets		22		24		(7)		(7)
	Accrued expenses		153		6		(245)		(14)
	Other liabilities		—		1		(4)		(7)
			218		506		(276)		(225)
Interest-rate and other derivatives
	Other liabilities		—		—		(1,101)		(1,194)
Total derivatives		$	218	$	506	$	(1,377)	$	(1,419)

millions
Classification of (Gain) Loss Recognized		Realized		Unrealized		Total
Three Months Ended March 31, 2013
Commodity derivatives
	Gathering, processing, and marketing sales (1)	$	4	$	4	$	8
	(Gains) losses on derivatives, net		(51)		334		283
Interest-rate and other derivatives
	(Gains) losses on derivatives, net		—		(92)		(92)
Total (gains) losses on derivatives, net		$	(47)	$	246	$	199

Three Months Ended March 31, 2012
Commodity derivatives
	Gathering, processing, and marketing sales (1)	$	(2)	$	5	$	3
	(Gains) losses on derivatives, net		(137)		89		(48)
Interest-rate and other derivatives
	(Gains) losses on derivatives, net		—		(236)		(236)
Total (gains) losses on derivatives, net		$	(139)	$	(142)	$	(281)

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(1)Represents the effect of marketing and trading derivative activities.

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

millions
March 31, 2013			Level 1		Level 2		Level 3		Netting (1)		Collateral		Total
Assets
	Commodity derivatives
		Financial institutions	$	3	$	189	$	—	$	(178)	$	(1)	$	13
		Other counterparties		—		26		—		(2)		—		24
Total derivative assets			$	3	$	215	$	—	$	(180)	$	(1)	$	37
Liabilities
	Commodity derivatives
		Financial institutions	$	(3)	$	(250)	$	—	$	178	$	4	$	(71)
		Other counterparties		—		(23)		—		2		—		(21)
	Interest-rate and other derivatives			—		(1,101)		—		—		—		(1,101)
Total derivative liabilities			$	(3)	$	(1,374)	$	—	$	180	$	4	$	(1,193)

December 31, 2012
Assets
	Commodity derivatives
		Financial institutions	$	6	$	453	$	—	$	(206)	$	—	$	253
		Other counterparties		—		47		—		(5)		—		42
Total derivative assets			$	6	$	500	$	—	$	(211)	$	—	$	295
Liabilities
	Commodity derivatives
		Financial institutions	$	(6)	$	(202)	$	—	$	206	$	1	$	(1)
		Other counterparties		—		(17)		—		5		—		(12)
	Interest-rate and other derivatives			—		(1,194)		—		—		—		(1,194)
Total derivative liabilities			$	(6)	$	(1,413)	$	—	$	211	$	1	$	(1,207)

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(1)Represents the impact of netting commodity derivative assets and liabilities with counterparties where the Company has the contractual right and intends to net settle.