Segment Information

9 Months Ended

Sep. 30, 2012

Segment Information [Abstract]

Segment Information Text Block

12. Segment Information:

While we only have operations in the oil and gas exploration and production industry, we are organizationally structured along geographic operating segments. Our current operating segments are the United States, Malaysia, and China. The accounting policies of each of our operating segments are the same as those described in Note 1, “Organization and Summary of Significant Accounting Policies.”

The following tables provide the geographic operating segment information for the three and nine months endedSeptember 30, 2012 and 2011. Income tax allocations have been determined based on statutory rates in the applicable geographic segment.

Three Months Ended September 30, 2012:
			Domestic		Malaysia		China		Total
			(In millions)
Oil and gas revenues			$	371	$	228	$	16	$	615
Operating expenses:
	Lease operating			99		27		2		128
	Production and other taxes			17		59		3		79
	Depreciation, depletion and amortization			172		61		4		237
	General and administrative			57		2		—		59
	Other			6		—		—		6
	Allocated income tax			7		30		2
		Net income from oil and
		gas properties	$	13	$	49	$	5
		Total operating expenses								509
Income from operations										106
	Interest expense, net of interest income,
	capitalized interest and other									(52)
	Commodity derivative expense									(98)
Loss before income taxes									$	(44)
Total assets			$	8,235	$	878	$	318	$	9,431
Additions to long-lived assets			$	362	$	61	$	30	$	453

Three Months Ended September 30, 2011:
			Domestic		Malaysia		China		Total
			(In millions)
Oil and gas revenues			$	444	$	159	$	25	$	628
Operating expenses:
	Lease operating			93		21		1		115
	Production and other taxes			19		71		5		95
	Depreciation, depletion and amortization			154		29		6		189
	General and administrative			49		1		1		51
	Allocated income tax			48		14		3
		Net income from oil and
		gas properties	$	81	$	23	$	9
		Total operating expenses								450
Income from operations										178
	Interest expense, net of interest income,
	capitalized interest and other									(16)
	Commodity derivative income									262
Income before income taxes									$	424
Total assets			$	7,879	$	789	$	235	$	8,903
Additions to long-lived assets			$	597	$	81	$	13	$	691

Nine Months Ended September 30, 2012:
			Domestic		Malaysia		China		Total
			(In millions)
Oil and gas revenues			$	1,124	$	724	$	73	$	1,921
Operating expenses:
	Lease operating			305		73		6		384
	Production and other taxes			53		182		15		250
	Depreciation, depletion and amortization			510		175		17		702
	General and administrative			161		4		—		165
	Other			6		—		—		6
	Allocated income tax			33		110		9
		Net income from oil and
		gas properties	$	56	$	180	$	26
		Total operating expenses								1,507
Income from operations										414
	Interest expense, net of interest income,
	capitalized interest and other									(118)
	Commodity derivative income									61
Income before income taxes									$	357
Total assets			$	8,235	$	878	$	318	$	9,431
Additions to long-lived assets			$	1,246	$	130	$	50	$	1,426

Nine Months Ended September 30, 2011:
			Domestic		Malaysia		China		Total
			(In millions)
Oil and gas revenues			$	1,313	$	416	$	65	$	1,794
Operating expenses:
	Lease operating			260		69		4		333
	Production and other taxes			56		173		16		245
	Depreciation, depletion and amortization			440		73		15		528
	General and administrative			128		3		1		132
	Allocated income tax			159		37		7
		Net income from oil and
		gas properties	$	270	$	61	$	22
		Total operating expenses								1,238
Income from operations										556
	Interest expense, net of interest income,
	capitalized interest and other									(61)
	Commodity derivative income									249
Income before income taxes									$	744
Total assets			$	7,879	$	789	$	235	$	8,903
Additions to long-lived assets			$	1,858	$	208	$	48	$	2,114