Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities measured at fair value on a recurring basis

The following table presents the Company's assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2014 for each of the fair value hierarchy levels:

	Fair Value Measurement at the End of the Reporting Period Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value at September 30, 2014
	(in millions)
Recurring fair value measurements
Assets:
Commodity derivatives	$	—	$	185	$	—	$	185
Deferred compensation plan assets	70		—		—		70
Total assets	70		185		—		255
Liabilities:
Commodity derivatives	—		1		—		1
Total liabilities	—		1		—		1
Total recurring fair value measurements	$	70	$	184	$	—	$	254

Fair Value of Assets Classified as Held for Sale [Table Text Block]

The following table presents the fair value adjustments made by the Company during 2014 related to assets associated with divestitures:

			Fair Value Adjustment
	Sales Value Less Costs to Sell		Three Months Ended September 30, 2014			Nine Months Ended September 30, 2014
	(in millions)
Hugoton field	$	328	$	(34	)	$	(34	)
Barnett Shale field	$	149	$	(46	)	$	(174	)
Pioneer Alaska	$	253	$	—		$	(97	)

Schedule of carrying values and financial instruments not carried at fair value

Carrying values and fair values of financial instruments that are not carried at fair value in the consolidated balance sheets as of September 30, 2014 and December 31, 2013 are as follows:

	September 30, 2014				December 31, 2013
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(in millions)
Long-term debt	$	2,662	$	3,025	$	2,653	$	3,019