Investments (Note)

6 Months Ended

Jun. 30, 2015

Investments

A summary of our investments, including our approximate ownership percentage and carrying value as of June 30, 2015 and December 31, 2014, is presented below.



		Approximate Ownership %		Carrying Value
	Accounting Method	June 30, 2015	December 31, 2014	June 30, 2015		December 31, 2014
				($ in millions)
FTS International, Inc.	Equity	30%	30%	$	106	$	116
Sundrop Fuels, Inc.	Equity	56%	56%	131		130
Other	—	—%	—%	18		19
Total investments				$	255	$	265

FTS International, Inc. FTS International, Inc. (FTS), based in Fort Worth, Texas, is a privately held company that, through its subsidiaries, provides hydraulic fracturing and other services to oil and gas companies. During the Current Period, we recorded negative equity method and other adjustments, prior to intercompany profit eliminations, of $31 million, for our share of FTS’ net loss and an accretion adjustment of $21 million related to the excess of our underlying equity in net assets of FTS over our carrying value.

As of June 30, 2015, the carrying value of our investment in FTS was less than our underlying equity in net assets by approximately $23 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.

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. During the Current Period, we recorded a $4 million charge related to our share of Sundrop's net loss and $5 million of capitalized interest associated with the construction of Sundrop’s plant. The carrying value of our investment in Sundrop was in excess of our underlying equity in net assets by approximately $83 million as of June 30, 2015 and will be amortized over the life of the plant once it is placed into service.

Sold Investments

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 Prior Period, 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.

Other. In the Prior Period, 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.