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Quarterly Results of Operations (Tables)
 12 Months Ended
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information Table
The results of operations by quarter for the indicated periods are as follows: 
 
 
2013 Quarter Ended
 
 
March 31
 
June 30
 
September 30
 
December 31
 
 
(In millions, except per share data)
Oil, gas and NGL revenues(1)
 
$
370

 
$
435

 
$
486

 
$
498

Income (loss) from operations(1)
 
78

 
89

 
131

 
121

 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations, net of tax
 
(25
)
 
106

 
(4
)
 
31

Income (loss) from discontinued operations, net of tax
 
17

 
5

 
31

 
(14
)
Net income (loss)
 
$
(8
)
 
$
111

 
$
27

 
$
17

Basic earnings (loss) per common share(2)
 


 


 


 


Income (loss) from continuing operations
 
$
(0.19
)
 
$
0.78

 
$
(0.03
)
 
$
0.23

Income (loss) from discontinued operations
 
0.13

 
0.04

 
0.08

 
(0.10
)
Basic earnings (loss) per share
 
$
(0.06
)
 
$
0.82

 
$
0.05

 
$
0.13

Diluted earnings (loss) per common share(2)
 


 


 


 


Income (loss) from continuing operations
 
$
(0.19
)
 
$
0.78

 
$
(0.03
)
 
$
0.23

Income (loss) from discontinued operations
 
0.13

 
0.04

 
0.08

 
(0.10
)
Diluted earnings (loss) per share
 
$
(0.06
)
 
$
0.82

 
$
0.05

 
$
0.13

 
 
 
2012 Quarter Ended
 
 
March 31
 
June 30
 
September 30
 
December 31
 
 
(In millions, except per share data)
Oil, gas and NGL revenues(1)
 
$
403

 
$
350

 
$
371

 
$
352

Income (loss) from operations(1)(3)
 
69

 
1

 
19

 
(1,483
)
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations, net of tax
 
39

 
64

 
(82
)
 
(923
)
Income (loss) from discontinued operations, net of tax
 
77

 
71

 
49

 
(479
)
Net income (loss)
 
$
116

 
$
135

 
$
(33
)
 
$
(1,402
)
Basic earnings (loss) per common share(2)
 


 


 


 


Income (loss) from continuing operations
 
$
0.29

 
$
0.47

 
$
(0.61
)
 
$
(6.86
)
Income (loss) from discontinued operations
 
0.57

 
0.53

 
0.37

 
(3.53
)
Basic earnings (loss) per share
 
$
0.86

 
$
1.00

 
$
(0.24
)
 
$
(10.39
)
Diluted earnings (loss) per common share(2)
 


 


 


 


Income (loss) from continuing operations
 
$
0.29

 
$
0.47

 
$
(0.61
)
 
$
(6.86
)
Income (loss) from discontinued operations
 
0.57

 
0.53

 
0.37

 
(3.53
)
Diluted earnings (loss) per share
 
$
0.86

 
$
1.00

 
$
(0.24
)
 
$
(10.39
)
 _________________
(1)
Oil, gas and NGL revenues and Income (loss) from operations are specific to our continuing operations.
(2)
The sum of the individual quarterly earnings (loss) per share may not agree with year-to-date earnings (loss) per share as each quarterly computation is based on the income or loss for that quarter and the weighted-average number of shares outstanding during that quarter.
(3)
Income (loss) from operations for the fourth quarter of 2012 includes a full cost ceiling test writedown of $1.5 billion.