Investments (Notes)

12 Months Ended

Dec. 31, 2016

Equity Method Investments and Joint Ventures [Abstract]

Investments

A summary of our investments, including our approximate ownership percentage and carrying value as of December 31, 2016 and 2015, is presented below.



		Approximate Ownership %		Carrying Value
	Accounting Method	December 31, 2016	December 31, 2015	December 31, 2016		December 31, 2015
				($ in millions)
Sundrop Fuels, Inc.	Equity	56%	56%	$	—	$	119
FTS International, Inc.	Equity	30%	30%	—		—
Other	—	—%	—%	7		17
Total investments^(a)				$	7	$	136

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(a)	Balance is included in other long-term assets on our consolidated balance sheets.

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. Based on our review of the investment in Sundrop, we recognized an other-than-temporary impairment of $119 million in 2016. In 2015, we recorded a $20 million charge related to our share of Sundrop's net loss and $9 million of capitalized interest associated with the construction of Sundrop’s plant.

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. In 2015, we recorded our equity in FTS’ net losses and other adjustments, prior to intercompany profit eliminations, of $107 million and an accretion adjustment of $44 million related to the excess of our underlying equity in net assets of FTS over our carrying value. Due to the decrease in the oil and natural gas pricing environment, we recognized an other-than-temporary impairment on our investment in FTS of $53 million during 2015.

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 2014, 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 2014, 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.