Investments (Note)

3 Months Ended

Mar. 31, 2014

Investments [Abstract]

Investments Disclosure [Text Block]

Investments

A summary of our investments, including our approximate ownership percentage as of March 31, 2014 and December 31, 2013, is presented below.

		Approximate Ownership %		Carrying Value
	Accounting Method	March 31, 2014	December 31, 2013	March 31, 2014		December 31, 2013
				($ in millions)
FTS International, Inc.	Equity	30%	30%	$	129	$	138
Chaparral Energy, Inc.	Equity	—%	20%	—		143
Sundrop Fuels, Inc.	Equity	56%	56%	134		135
Other	—	—%	—%	25		61
Total investments				$	288	$	477

FTS International, Inc. FTS International, Inc. (FTS), based in Fort Worth, Texas, is a privately held company which, through its subsidiaries, provides hydraulic fracturing and other services to oil and gas companies. During the Current Quarter, we recorded negative equity method and other adjustments, prior to intercompany profit eliminations, of $15 million for our share of FTS’s net loss and recorded an accretion adjustment of $6 million related to the excess of our underlying equity in net assets of FTS over our carrying value.

As of March 31, 2014, the carrying value of our investment in FTS was less than our underlying equity in net assets by approximately $48 million, of which $14 million was attributed to non-depreciable assets. The value attributed to depreciable assets is being accreted over the estimated useful lives of the underlying assets.

Chaparral Energy, Inc. Chaparral Energy, Inc. (Chaparral), based in Oklahoma City, Oklahoma, is a private independent oil and natural gas company engaged in the production, acquisition and exploitation of oil and natural gas properties. In the Current Quarter, we sold all of our interest in Chaparral for net cash proceeds of $209 million. We recorded a $73 million gain related to the sale.

Sundrop Fuels, Inc. Sundrop Fuels, Inc. (Sundrop), based in Longmont, Colorado, is a privately held cellulosic biofuels company that is constructing a nonfood biomass-based “green gasoline” plant. In the Current Quarter, we recorded a $3 million charge related to our share of Sundrop's net loss and capitalized interest totaling $2 million associated with the construction of Sundrop’s plant. The capitalized interest is added to the investment carrying value in excess of our underlying equity and will be amortized over the life of the plant, once it is placed into service. The carrying value of our investment in Sundrop was in excess of our underlying equity in net assets by approximately $65 million.

Other. In the Current Quarter, we sold an equity investment in a natural gas trading and management firm for cash proceeds of $30 million and recorded a loss of $6 million associated with the transaction.