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Derivative and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
The estimated fair values of our oil, natural gas and NGL derivative instrument assets (liabilities) as of December 31, 2017 and 2016 are provided below: 
 
 
December 31, 2017
 
December 31, 2016
 
 
Notional Volume
 
Fair Value
 
Notional Volume
 
Fair Value
 
 
 
 
($ in millions)  
 
 
 
($ in millions)  
Oil (mmbbl):
 
 
 
 
 
 
 
 
Fixed-price swaps
 
21

 
$
(151
)
 
23

 
$
(140
)
Three-way collars
 
2

 
(10
)
 
—

 
—

Call options
 
—

 
—

 
5

 
(1
)
Call swaptions
 
2

 
(13
)
 
—

 
—

Basis protection swaps
 
11

 
(9
)
 
—

 
—

Total oil
 
36

 
(183
)
 
28

 
(141
)
Natural gas (tbtu):
 
 
 
 
 
 
 
 
Fixed-price swaps
 
532

 
149

 
719

 
(349
)
Collars
 
47

 
11

 
60

 
(9
)
Call options
 
110

 
(3
)
 
114

 
—

Basis protection swaps
 
65

 
(7
)
 
31

 
(5
)
Total natural gas
 
754

 
150

 
924

 
(363
)
NGL (mmgal):
 
 
 
 
 
 
 
 
Fixed-price swaps
 
33

 
(2
)
 
53

 
—

Total estimated fair value
 
 
 
$
(35
)
 
 
 
$
(504
)
Schedule Of Derivative Instruments In Condensed Consolidated Balance Sheets
The following table presents the fair value and location of each classification of derivative instrument included in the consolidated balance sheets as of December 31, 2017 and 2016 on a gross basis and after same-counterparty netting:
Balance Sheet Classification
 
Gross
Fair Value
 
Amounts Netted
in the
Consolidated
Balance Sheets
 
Net Fair Value
Presented in the
Consolidated
Balance Sheet
 
 
($ in millions)
As of December 31, 2017
 
 
 
 
 
 
Commodity Contracts:
 
 
 
 
 
 
Short-term derivative asset
 
$
157

 
$
(130
)
 
$
27

Short-term derivative liability
 
(188
)
 
130

 
(58
)
Long-term derivative liability
 
(4
)
 
—

 
(4
)
Total commodity contracts
 
(35
)
 
—

 
(35
)
Total derivatives
 
$
(35
)
 
$
—

 
$
(35
)
 
 
 
 
 
 
 
As of December 31, 2016
 
 
 
 
 
 
Commodity Contracts:
 
 
 
 
 
 
Short-term derivative asset
 
$
1

 
$
(1
)
 
$
—

Short-term derivative liability
 
(490
)
 
1

 
(489
)
Long-term derivative liability
 
(15
)
 
—

 
(15
)
Total commodity contracts
 
(504
)
 
—

 
(504
)
Foreign Currency Contracts:(a)
 
 
 
 
 
 
Short-term derivative liability
 
(73
)
 
—

 
(73
)
Total foreign currency contracts
 
(73
)
 
—

 
(73
)
Total derivatives
 
$
(577
)
 
$
—

 
$
(577
)
____________________________________________
(a)
Designated as cash flow hedging instruments
Schedule of Derivative Instruments, Oil, Natural Gas and NGL Revenues
The components of marketing, gathering and compression revenues for the years ended December 31, 2017, 2016 and 2015 are presented below:    
 
 
Years Ended December 31,
 
 
2017
 
2016
 
2015
 
 
($ in millions)
Marketing, gathering and compression revenues
 
$
4,511

 
$
4,881

 
$
7,077

Losses on undesignated supply contract derivatives
 
—

 
(297
)
 
296

Total marketing, gathering and compression revenues
 
$
4,511

 
$
4,584

 
$
7,373

The components of oil, natural gas and NGL revenues for the years ended December 31, 2017, 2016 and 2015 are presented below:
 
 
Years Ended December 31,
 
 
2017
 
2016
 
2015
 
 
($ in millions)
Oil, natural gas and NGL revenues
 
4,574

 
3,866

 
4,767

Gains (losses) on undesignated oil, natural gas
and NGL derivatives
 
445

 
(545
)
 
661

Losses on terminated cash flow hedges
 
(34
)
 
(33
)
 
(37
)
Total oil, natural gas and NGL revenues
 
$
4,985

 
$
3,288

 
$
5,391
Schedule of Derivative Instruments, Marketing, Gathering and Compression Revenues
The components of marketing, gathering and compression revenues for the years ended December 31, 2017, 2016 and 2015 are presented below:    
 
 
Years Ended December 31,
 
 
2017
 
2016
 
2015
 
 
($ in millions)
Marketing, gathering and compression revenues
 
$
4,511

 
$
4,881

 
$
7,077

Losses on undesignated supply contract derivatives
 
—

 
(297
)
 
296

Total marketing, gathering and compression revenues
 
$
4,511

 
$
4,584

 
$
7,373

The components of oil, natural gas and NGL revenues for the years ended December 31, 2017, 2016 and 2015 are presented below:
 
 
Years Ended December 31,
 
 
2017
 
2016
 
2015
 
 
($ in millions)
Oil, natural gas and NGL revenues
 
4,574

 
3,866

 
4,767

Gains (losses) on undesignated oil, natural gas
and NGL derivatives
 
445

 
(545
)
 
661

Losses on terminated cash flow hedges
 
(34
)
 
(33
)
 
(37
)
Total oil, natural gas and NGL revenues
 
$
4,985

 
$
3,288

 
$
5,391
Interest Income And Interest Expense Disclosure
 
 
Years Ended December 31,
 
 
2017
 
2016
 
2015
 
 
($ in millions)
Marketing, gathering and compression revenues
 
$
4,511

 
$
4,881

 
$
7,077

Losses on undesignated supply contract derivatives
 
—

 
(297
)
 
296

Total marketing, gathering and compression revenues
 
$
4,511

 
$
4,584

 
$
7,373
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
A reconciliation of the changes in accumulated other comprehensive income (loss) in our consolidated statements of stockholders’ equity related to our cash flow hedges is presented below:
 
 
Years Ended December 31,
 
 
2017
 
2016
 
2015
 
 
Before 
Tax  
 
After 
Tax  
 
Before 
Tax  
 
After 
Tax  
 
Before 
Tax  
 
After 
Tax  
 
 
($ in millions)
Balance, beginning of period
 
$
(153
)
 
$
(96
)
 
$
(160
)
 
$
(99
)
 
$
(231
)
 
$
(143
)
Net change in fair value
 
5

 
5

 
(27
)
 
(13
)
 
32

 
20

Losses reclassified to income
 
34

 
34

 
34

 
16

 
39

 
24

Balance, end of period
 
$
(114
)
 
$
(57
)
 
$
(153
)
 
$
(96
)
 
$
(160
)
 
$
(99
)
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table provides information for financial assets (liabilities) measured at fair value on a recurring basis as of December 31, 2017 and 2016: 
 
 
Quoted
Prices in
Active
Markets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2) 
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
Fair Value
 
 
 
 
($ in millions)
 
 
As of December 31, 2017
 
 
 
 
 
 
 
 
Derivative Assets (Liabilities):
 
 
 
 
 
 
 
 
Commodity assets
 
$
—

 
$
—

 
$
8

 
$
8

Commodity liabilities
 
—

 
(20
)
 
(23
)
 
(43
)
Total derivatives
 
$
—

 
$
(20
)
 
$
(15
)
 
$
(35
)
 
 
 
 
 
 
 
 
 
As of December 31, 2016
 
 
 
 
 
 
 
 
Derivative Assets (Liabilities):
 
 
 
 
 
 
 
 
Commodity assets
 
$
—

 
$
1

 
$
—

 
$
1

Commodity liabilities
 
—

 
(495
)
 
(10
)
 
(505
)
Foreign currency liabilities
 
—

 
(73
)
 
—

 
(73
)
Total derivatives
 
$
—

 
$
(567
)
 
$
(10
)
 
$
(577
)


A summary of the changes in the fair values of our financial assets (liabilities) classified as Level 3 during 2017 and 2016 is presented below: 
 
 
Commodity
Derivatives
 
Supply
Contracts
 
 
($ in millions)
Balance, as of January 1, 2017
 
$
(10
)
 
$
—

Total gains (losses) (realized/unrealized):
 
 
 
 
Included in earnings(a)
 
2

 
—

Total purchases, issuances, sales and settlements:
 
 
 
 
Settlements
 
(7
)
 
—

Balance, as of December 31, 2017
 
$
(15
)
 
$
—

 
 
 
 
 
Balance, as of January 1, 2016
 
$
(91
)
 
$
297

Total gains (losses) (realized/unrealized):
 
 
 
 
Included in earnings(a)
 
6

 
(118
)
Total purchases, issuances, sales and settlements:
 
 
 
 
Settlements
 
75

 
(33
)
Sales
 
—

 
(146
)
Balance, as of December 31, 2016
 
$
(10
)
 
$
—

___________________________________________
(a)
 
 
Commodity Derivatives
 
Marketing, Gathering
and Compression
Revenue
 
 
 
 
 
2017
 
2016
 
2017
 
2016
 
 
 
($ in millions)
 
Total gains (losses) included in earnings for the period
 
$
2

 
$
6

 
$
—

 
$
(118
)
 
Change in unrealized gains (losses) related to assets
still held at reporting date
 
$
(14
)
 
$
(7
)
 
$
—

 
$
—

The following table provides fair value measurement information for the above-noted financial assets (liabilities) measured at fair value on a recurring basis as of December 31, 2017 and 2016:
 
 
Quoted
Prices in
Active
Markets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2) 
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
Fair Value
 
 
($ in millions)
As of December 31, 2017
 
 
 
 
 
 
 
 
Financial Assets (Liabilities):
 
 
 
 
 
 
 
 
Other current assets
 
$
57

 
$
—

 
$
—

 
$
57

Other current liabilities
 
(60
)
 
—

 
—

 
(60
)
Total
 
$
(3
)
 
$
—

 
$
—

 
$
(3
)
 
 
 
 
 
 
 
 
 
As of December 31, 2016
 
 
 
 
 
 
 
 
Financial Assets (Liabilities):
 
 
 
 
 
 
 
 
Other current assets
 
$
49

 
$
—

 
$
—

 
$
49

Other current liabilities
 
(51
)
 
—

 
—

 
(51
)
Total
 
$
(2
)
 
$
—

 
$
—

 
$
(2
)
Fair Value Inputs, Assets, Quantitative Information
The following table presents quantitative information about Level 3 inputs used in the fair value measurement of our commodity derivative contracts at fair value as of December 31, 2017:
Instrument
Type
 
Unobservable
Input
 
Range
 
Weighted
Average
 
Fair Value
December 31, 2017
 
 
 
 
 
 
 
 
($ in millions)
Oil trades
 
Oil price volatility curves
 
13.14% – 24.93%
 
22.43%
 
$
(23
)
Natural gas trades
 
Natural gas price volatility
curves
 
18.82% – 82.61%
 
38.06%
 
$
8