Derivatives (Tables)

6 Months Ended

Jun. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives as they appear on the balance sheet [Table Text Block]

The following tables present the gross fair values of derivative instruments and the reported net amounts where they appear on the consolidated balance sheets.

	June 30, 2016
(In millions)	Asset		Liability		Net Asset		Balance Sheet Location
Fair Value Hedges
Interest rate	$	12	$	—	$	12	Other noncurrent assets
Total Designated Hedges	$	12	$	—	$	12
	June 30, 2016
(In millions)	Asset		Liability		Net Liability		Balance Sheet Location
Not Designated as Hedges
Commodity	$	6	$	39	$	33	Other current liabilities
Commodity	—		31		31		Deferred credits and other liabilities
Total Not Designated as Hedges	$	6	$	70	$	64

	December 31, 2015
(In millions)	Asset		Liability		Net Asset		Balance Sheet Location
Fair Value Hedges
Interest rate	$	8	$	—	$	8	Other noncurrent assets
Not Designated as Hedges
Commodity	$	51	$	1	$	50	Other current assets

Schedule of Interest Rate Derivatives [Table Text Block]

The following table presents, by maturity date, information about our interest rate swap agreements, including the weighted average, London Interbank Offer Rate (“LIBOR”)-based, floating rate.

	June 30, 2016				December 31, 2015
	Aggregate Notional Amount		Weighted Average, LIBOR-Based,		Aggregate Notional Amount		Weighted Average, LIBOR-Based,
Maturity Dates	(in millions)		Floating Rate		(in millions)		Floating Rate
October 1, 2017	$	600	4.94	%	$	600	4.73	%
March 15, 2018	$	300	4.77	%	$	300	4.66	%

Effects of derivatives designated as fair value hedges [Table Text Block]

		Gain (Loss)
		Three Months Ended June 30,					Six Months Ended June 30,
(In millions)	Income Statement Location	2016		2015			2016			2015
Derivative
Interest rate	Net interest and other	$	—	$	(2	)	$	4		$	3
Hedged Item
Long-term debt	Net interest and other	$	—	$	2		$	(4	)	$	(3	)

Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

These commodity derivatives were not designated as hedges. The following table sets forth outstanding derivative contracts as of June 30, 2016 and the weighted average prices for those contracts:

Crude Oil
			Year Ending December 31,
	Third Quarter	Fourth Quarter	2017
Three-Way Collars
Volume (Bbls/day)	47,000	47,000	—
Price per Bbl:
Ceiling	$55.37	$55.37	—
Floor	$50.23	$50.23	—
Sold put	$40.96	$40.96	—
Sold call options (a)
Volume (Bbls/day)	10,000	10,000	35,000
Price per Bbl	$72.39	$72.39	$61.91
Two-way Collars
Volume (Bbls/day)	10,000	10,000	—
Price per Bbl:			—
Ceiling	$50.00	$50.00
Floor	$41.55	$41.55

^(a)  Call options settle monthly.

Natural Gas
			Year Ending December 31,
	Third Quarter	Fourth Quarter	2017
Three-Way Collars (a)
Volume (MMBtu/day)	20,000	20,000	40,000
Price per MMBtu
Ceiling	$2.93	$2.93	$3.28
Floor	$2.50	$2.50	$2.75
Sold put	$2.00	$2.00	$2.25

^(a)  On our 2016 collars, the counterparty has the option to execute fixed-price swaps (swaptions) at a weighted average price of $2.93 per MMBtu indexed to NYMEX Henry Hub, which is exercisable on December 22, 2016. If counterparty exercises, the term of the fixed-price swaps would be for the calendar year 2017 and, if all such options are exercised, 20,000 MMBtu per day.