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Quarterly Results of Operations
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information Text Block
Quarterly Results of Operations (Unaudited)

The results of operations by quarter for the indicated periods are as follows: 
 
 
2016 Quarter Ended
 
 
March 31
 
June 30
 
September 30
 
December 31
 
 
(In millions, except per share data)
Oil, gas and NGL revenues
 
$
284

 
$
381

 
$
392

 
$
415

Ceiling test and other impairments
 
506

 
522

 
—

 
—

Income (loss) from operations(2)
 
(578
)
 
(498
)
 
45

 
112

Net income (loss)(2)
 
(624
)
 
(667
)
 
48

 
13

Basic earnings (loss) per share(1)
 
(3.52
)
 
(3.36
)
 
0.24

 
0.07

Diluted earnings (loss) per share(1)
 
(3.52
)
 
(3.36
)
 
0.24

 
0.07

 
 
 
2015 Quarter Ended
 
 
March 31
 
June 30
 
September 30
 
December 31
 
 
(In millions, except per share data)
Oil, gas and NGL revenues
 
$
349

 
$
469

 
$
377

 
$
362

Ceiling test and other impairments
 
792

 
1,521

 
1,889

 
702

Income (loss) from operations
 
(884
)
 
(1,496
)
 
(1,951
)
 
(730
)
Net income (loss)
 
(480
)
 
(992
)
 
(1,227
)
 
(663
)
Basic earnings (loss) per share(1)
 
(3.30
)
 
(6.09
)
 
(7.52
)
 
(4.06
)
Diluted earnings (loss) per share(1)
 
(3.30
)
 
(6.09
)
 
(7.52
)
 
(4.06
)
 _________________
(1)
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.
(2)
Income (loss) from operations and Net income (loss) for the third quarter of 2016 include a legal settlement of $18 million. See Note 12, "Commitments and Contingencies — Litigation" for additional information.