Acquisitions and Divestitures (Tables)

9 Months Ended

Sep. 30, 2014

Acquisitions and Divestitures [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]

The following table represents the components of the Company's discontinued operations for the three and nine months ended September 30, 2014 and 2013:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
	(in millions)
Revenues and other income:
Oil and gas	$	49		$	89		$	198		$	246
Interest and other (a)	1			13			31			39
Gain on disposition of assets, net	—			—			5			9
	50			102			234			294
Costs and expenses:
Oil and gas production	16			32			59			90
Production and ad valorem taxes	3			5			12			15
Depletion, depreciation and amortization	2			34			11			87
Impairment of oil and gas properties	80			—			305			—
Exploration and abandonments	1			2			3			18
General and administrative	—			2			3			4
Accretion of discount on asset retirement obligations	—			—			1			1
Other	6			(2		)	14			(2		)
	108			73			408			213
Income (loss) from discontinued operations before income taxes	(58		)	29			(174		)	81
Current tax provision	—			—			(1		)	(4		)
Deferred tax (provision) benefit	21			(10		)	62			(25		)
Income (loss) from discontinued operations	$	(37	)	$	19		$	(113	)	$	52

 ____________________

(a) Primarily comprised of cash received associated with Alaskan Petroleum Production Tax credits on qualifying capital expenditures.

Discontinued Operations Assets and Liabilities Included in Assets and Liabilities Held for Sale [Table Text Block]

As of December 31, 2013, the carrying values of the Company's ownership in Pioneer Alaska, the Barnett Shale field and Sendero were included in assets and liabilities held for sale in the accompanying consolidated balance sheet and were comprised of the following (the Company had no assets held for sale at September 30, 2014):

	December 31, 2013
	(in millions)
Composition of assets included in assets held for sale:
Current assets	$	58
Property, plant and equipment	526
Total assets	$	584
Composition of liabilities included in liabilities held for sale:
Current liabilities	$	29
Other liabilities	10
Total liabilities	$	39