XML 28 R42.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value Measurement (Unaudited) Unobservable Inputs (Details) (USD $)
In Millions, unless otherwise specified
6 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended
Jun. 30, 2014
Dec. 31, 2013
Jun. 30, 2014
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Dec. 31, 2013
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Jun. 30, 2014
Plains Offshore Warrants [Member]
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Jun. 30, 2014
Crude Oil Options [Member]
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Jun. 30, 2014
Crude Oil Options [Member]
Minimum [Member]
Jun. 30, 2014
Crude Oil Options [Member]
Minimum [Member]
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Jun. 30, 2014
Crude Oil Options [Member]
Maximum [Member]
Jun. 30, 2014
Crude Oil Options [Member]
Maximum [Member]
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Jun. 30, 2014
Crude Oil Options [Member]
Weighted Average [Member]
Jun. 30, 2014
Crude Oil Options [Member]
Weighted Average [Member]
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Jun. 30, 2014
Sales [Member]
Crude Oil Options [Member]
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Jun. 30, 2014
Interest Expense [Member]
Crude Oil Options [Member]
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]                            
Fair Value Assumptions, Implied Volatilities               14.00%   55.00%   21.00%    
Deferred Premium Price             5.15   7.22   6.49      
Derivative Liability $ (317) $ (320) $ (298) [1],[2] $ (311) [1] $ (2) $ (309)                
Net realized losses         0 (6) [3]                
Net unrealized (losses) gains included in earnings related to assets and liabilities still held at the end of the period         2 [4] (100) [5]             (98) (2)
Settlement payments         0 117                
Derivative Liability $ (317) $ (320) $ (298) [1],[2] $ (311) [1] $ 0 $ (298)                
[1] Recorded at fair value.
[2] Refer to Note 7 for further discussion and balance sheet classifications. Crude oil options are net of $329 million at June 30, 2014, and $444 million at December 31, 2013, for deferred premiums and accrued interest.
[3] Recorded in revenues.
[4] Recorded in other (expense) income, net.
[5] Included net unrealized losses of $98 million recorded in revenues and $2 million of interest expense associated with the deferred premiums.