Derivative And Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2012

Derivative And Hedging Activities [Abstract]

Oil And Gas Production/Processing Derivative Activities Disclosure

	March 31, 2012					December 31, 2011
	Volume		Fair Value			Volume		Fair Value
			($ in millions)					($ in millions)
Natural gas (tbtu):
Call options		1,318	$	(255	)		1,357	$	(284	)
Basis protection swaps		160		(40	)		106		(42	)
Total natural gas		1,478		(295	)		1,463		(326	)
Oil (mmbbl):
Fixed-price swaps		24.9		(38	)		14.9		15
Call options		90.3		(1,305	)		94.7		(1,282	)
Swaptions		15.0		(108	)		7.8		(53	)
Fixed-price knockout swaps		0.6		3			0.8		7
Total oil		130.8		(1,448	)		118.2		(1,313	)
Total estimated fair value			$	(1,743	)			$	(1,639	)

Components Of Natural Gas And Oil Sales

	Three Months Ended March 31,
	2012			2011
	($ in millions)
Natural gas and oil sales	$	1,221		$	1,188
Gains (losses) on natural gas and oil derivatives		(153	)		(704	)
Gains (losses) on ineffectiveness of cash flow hedges		—			10
Total natural gas and oil sales	$	1,068		$	494

Interest Rate Derivatives Outstanding

	March 31, 2012					December 31, 2011
	Notional     Amount		Fair Value			Notional Amount		Fair Value
	($ in millions)
Interest rate:
Swaps	$	1,500	$	(43	)	$	1,050	$	(42	)
Swaptions		400		(3	)		300		—
Totals	$	1,900	$	(46	)	$	1,350	$	(42	)

Interest Income And Interest Expense Disclosure

	Three Months Ended March 31,
	2012			2011
	($ in millions)
Interest expense on senior notes	$	174		$	177
Interest expense on credit facilities		21			21
(Gains) losses on interest rate derivatives		4			(1	)
Amortization of loan discount and other		1			15
Capitalized interest		(188	)		(205	)
Total interest expense	$	12		$	7

Schedule Of Derivative Instruments In Condensed Consolidated Balance Sheets

		Fair Value
	Balance Sheet Location	March 31, 2012			December 31, 2011
		($ in millions)
Asset Derivatives:
Derivatives not designated as hedging instruments:
Commodity contracts	Short-term derivative instruments	$	76		$	54
Commodity contracts	Long-term derivative instruments		11			1
Total			87			55
Liability Derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts	Long-term derivative instruments		(20	)		(38	)
Total			(20	)		(38	)
Derivatives not designated as hedging instruments:
Commodity contracts	Short-term derivative instruments		(277	)		(232	)
Commodity contracts	Long-term derivative instruments		(1,553	)		(1,462	)
Interest rate contracts	Short-term derivative instruments		(3	)		—
Interest rate contracts	Long-term derivative instruments		(43	)		(42	)
Equity contracts	Short-term derivative instruments		(2	)		—
Total			(1,878	)		(1,736	)
Total derivative instruments		$	(1,811	)	$	(1,719	)

Schedule Of Derivative Instruments, Gain (Loss) In Statement Of Financial Performance

		Three Months Ended March 31,
Fair Value Derivatives	Location of Gain (Loss)	2012		2011
		($ in millions)
Interest rate contracts	Interest expense	$	2	$	6

Reconciliation Of Components Of Accumulated Other Comprehensive Income (Loss)

	Three Months Ended March 31,
	2012						2011
	Before Tax			After Tax			Before Tax			After Tax
Balance, beginning of period	$	(287	)	$	(178	)	$	(291	)	$	(181	)
Net change in fair value		6			4			(2	)		(1	)
Gains reclassified to income		(3	)		(2	)		(75	)		(46	)
Balance, end of period	$	(284	)	$	(176	)	$	(368	)	$	(228	)

Schedule Of Cash Flow Hedge Instruments, Gain (Loss) In Statement Of Financial Performance

		Three Months Ended March 31,
Cash Flow Derivatives	Location of Gain (Loss)	2012		2011
		($ in millions)
Gain (Loss) Recognized in AOCI     (Effective Portion)
Commodity contracts	AOCI	$	1	$	16
Foreign currency contracts	AOCI		5		(18	)
		$	6	$	(2	)
Gain (Loss) Reclassified from     AOCI into Income (Effective Portion)
Commodity contracts	Natural gas and oil sales	$	3	$	74
Gain (Loss) Recognized in Income
Commodity contracts
Ineffective Portion	Natural gas and oil sales	$	—	$	10
Amount initially excluded from     effectiveness testing	Natural gas and oil sales		—		22
		$	—	$	32

Derivatives Not Designated As Hedging Instruments Disclosure

		Three Months Ended March 31,
Non-Qualifying Derivatives	Location of Gain (Loss)	2012			2011
		($ in millions)
Commodity contracts	Natural gas and oil sales	$	(156	)	$	(800	)
Interest rate contracts	Interest expense		(6	)		(5	)
Equity contracts	Other income		(2	)		—
Total		$	(164	)	$	(805	)