Segment Information

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Segment Information [Text Block]

Segment Information

  We are a global energy company with operations in North America, Europe and Africa. Each of our three reportable operating segments is organized and managed based upon both geographic location and the nature of the products and services it offers.

• North America E&P ("N.A. E&P") – explores for, produces and markets crude oil and condensate, natural gas liquids ("NGLs") and natural gas in North America;

• International E&P ("Int'l E&P") – explores for, produces and markets crude oil and condensate, NGLs and natural gas outside of North America and produces and markets products manufactured from natural gas, such as liquefied natural gas ("LNG") and methanol, in Equatorial Guinea ("E.G."); and

• Oil Sands Mining (“OSM”) – mines, extracts and transports bitumen from oil sands deposits in Alberta, Canada, and upgrades the bitumen to produce and market synthetic crude oil and vacuum gas oil.

Information regarding assets by segment is not presented because it is not reviewed by the chief operating decision maker (“CODM”).  Segment income represents income from continuing operations excluding certain items not allocated to segments, net of income taxes attributable to the operating segments. Our corporate and operations support general and administrative costs are not allocated to the operating segments. These costs primarily consist of employment costs (including pension effects), professional services, facilities and other costs associated with corporate and operations support activities. Gains or losses on dispositions, certain impairments, change in tax expense associated with a tax rate change, unrealized gains or losses on crude oil derivative instruments, or other items that affect comparability also are not allocated to operating segments.

As discussed in Note 5, as a result of the sale of our Angola assets and our Norway business in 2014, both are reflected as discontinued operations and excluded from the International E&P segment for 2014.

	Three Months Ended June 30, 2015
									Not Allocated
(In millions)	N.A. E&P			Int'l E&P		OSM			to Segments				Total
Sales and other operating revenues	$	993		$	211	$	147		$	(44	)	(c)	$	1,307
Marketing revenues	110			30		43			—				183
Total revenues	1,103			241		190			(44		)		1,490
Income from equity method investments	—			26		—			—				26
Net gain on disposal of assets and other income	11			4		—			—				15
Less:
Production expenses	179			64		207			—				450
Marketing costs	112			29		41			—				182
Exploration expenses	91			20		—			—				111
Depreciation, depletion and amortization	634			71		35			11				751
Impairments	—			—		—			44			(d)	44
Other expenses (a)	99			19		9			122			(e)	249
Taxes other than income	67			—		5			6				78
Net interest and other	—			—		—			58				58
Income tax provision (benefit)	(23		)	27		(30		)	20			(f)	(6		)
Segment income (loss) /Loss from continuing operations	$	(45	)	$	41	$	(77	)	$	(305	)		$	(386	)
Capital expenditures (b)	$	551		$	99	$	16		$	12			$	678

^(a)  Includes other operating expenses and general and administrative expenses.

^(b)  Includes accruals.

^(c)  Unrealized loss on crude oil derivative instruments.

^(d)  Proved property impairment (See Note 12).

^(e)  Includes pension settlement loss of $64 million (see Note 7).

^(f)  Includes $135 million of deferred tax expense related to Alberta provincial corporate tax rate increase (see Note 8).

	Three Months Ended June 30, 2014
							Not Allocated
(In millions)	N.A. E&P		Int'l E&P		OSM		to Segments				Total
Sales and other operating revenues	$	1,540	$	347	$	383	$	—			$	2,270
Marketing revenues	540		61		17		—				618
Total revenues	2,080		408		400		—				2,888
Income from equity method investments	—		120		—		—				120
Net gain (loss) on disposal of assets and other income	15		15		1		(98		)	(c)	(67		)
Less:
Production expenses	217		99		246		—				562
Marketing costs	537		60		17		—				614
Exploration expenses	82		63		—		—				145
Depreciation, depletion and amortization	550		75		45		10				680
Impairments	4		—		—		—				4
Other expenses (a)	126		34		13		67			(d)	240
Taxes other than income	102		—		6		1				109
Net interest and other	—		—		—		76				76
Income tax provision (benefit)	175		52		19		(95		)		151
Segment income/Income from continuing operations	$	302	$	160	$	55	$	(157	)		$	360
Capital expenditures (b)	$	1,102	$	115	$	55	$	10			$	1,282

^(a)  Includes other operating expenses and general and administrative expenses.

^(b)  Includes accruals.

^(c)  Primarily related to the sale of non-core acreage (see Note 5).

^(d)  Includes pension settlement loss of $8 million (see Note 7).

	Six Months Ended June 30, 2015
									Not Allocated
(In millions)	N.A. E&P			Int'l E&P		OSM			to Segments				Total
Sales and other operating revenues	$	1,843		$	393	$	372		$	(21	)	(c)	$	2,587
Marketing revenues	288			56		43			—				387
Total revenues	2,131			449		415			(21		)		2,974
Income from equity method investments	—			62		—			—				62
Net gain on disposal of assets and other income	11			14		1			1				27
Less:
Production expenses	381			131		382			—				894
Marketing costs	292			54		41			—				387
Exploration expenses	126			75		—			—				201
Depreciation, depletion and amortization	1,317			135		97			23				1,572
Impairments	—			—		—			44			(d)	44
Other expenses (a)	216			42		18			251			(e)	527
Taxes other than income	128			—		10			7				145
Net interest and other	—			—		—			105				105
Income tax provision (benefit)	(112		)	24		(36		)	(26		)	(f)	(150		)
Segment income (loss) /Loss from continuing operations	$	(206	)	$	64	$	(96	)	$	(424	)		$	(662	)
Capital expenditures (b)	$	1,484		$	245	$	37		$	14			$	1,780

^(a)  Includes other operating expenses and general and administrative expenses.

^(b)  Includes accruals.

^(c)  Unrealized loss on crude oil derivative instruments.

^(d)  Proved property impairment (See Note 12).

^(e)  Includes $43 million of severance related expenses associated with a workforce reduction and a pension settlement loss of $81 million (see Note 7).

^(f)  Includes $135 million of deferred tax expense related to Alberta provincial corporate tax rate increase (see Note 8).

	Six Months Ended June 30, 2014
							Not Allocated
(In millions)	N.A. E&P		Int'l E&P		OSM		to Segments				Total
Sales and other operating revenues	$	2,932	$	727	$	760	$	—			$	4,419
Marketing revenues	980		131		48		—				1,159
Total revenues	3,912		858		808		—				5,578
Income from equity method investments	—		257		—		—				257
Net gain (loss) on disposal of assets and other income	18		32		3		(98		)	(c)	(45		)
Less:
Production expenses	428		199		477		—				1,104
Marketing costs	977		131		48		—				1,156
Exploration expenses	139		79		—		—				218
Depreciation, depletion and amortization	1,065		146		90		22				1,323
Impairments	21		—		—		—				21
Other expenses (a)	236		72		26		196			(d)	530
Taxes other than income	192		—		11		1				204
Net interest and other	—		—		—		125				125
Income tax provision (benefit)	328		139		40		(156		)		351
Segment income /Income from continuing operations	$	544	$	381	$	119	$	(286	)		$	758
Capital expenditures (b)	$	1,969	$	220	$	123	$	13			$	2,325

^(a)  Includes other operating expenses and general and administrative expenses.

^(b)  Includes accruals.

^(c)  Primarily related to the sale of non-core acreage (see Note 5).

^(d)  Includes pension settlement loss of $71 million (see Note 7).