Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2017

Derivative [Line Items]

Schedule Of Derivative Financial Instruments Included In Consolidated Comprehensive Statements Of Earnings And Consolidated Balance Sheets

The following table presents the net gains and losses by derivative financial instrument type followed by the corresponding individual consolidated comprehensive statements of earnings caption.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
	(Millions)
Commodity derivatives:
Oil, gas and NGL derivatives	$	(144	)	$	79		$	214		$	(30	)
Marketing and midstream revenues		(5	)		(1	)		3			(7	)
Interest rate derivatives:
Other nonoperating items		(4	)		(20	)		(19	)		(163	)
Foreign currency derivatives:
Other nonoperating items		—			—			—			(159	)
Net gains (losses) recognized	$	(153	)	$	58		$	198		$	(359	)

The following table presents the derivative fair values by derivative financial instrument type followed by the corresponding individual consolidated balance sheet caption.

	September 30, 2017		December 31, 2016
	(Millions)
Commodity derivative assets:
Other current assets	$	39	$	9
Other long-term assets		4		1
Interest rate derivative assets:
Other current assets		1		1
Total derivative assets	$	44	$	11
Commodity derivative liabilities:
Other current liabilities	$	53	$	187
Other long-term liabilities		7		16
Interest rate derivative liabilities:
Other current liabilities		1		—
Other long-term liabilities		61		41
Total derivative liabilities	$	122	$	244

Interest Rate Derivatives [Member]

Derivative [Line Items]

Schedule Of Open Derivative Positions

Notional		Rate Received		Rate Paid		Expiration
(Millions)
$	750	Three Month LIBOR			2.98%	December 2048 (1)
$	100		1.76%	Three Month LIBOR		January 2019

(1) Mandatory settlement in December 2018.

Open Oil Derivative Positions [Member]

Derivative [Line Items]

Schedule Of Open Derivative Positions

	Price Swaps				Price Collars
Period	Volume (Bbls/d)		Weighted Average Price ($/Bbl)		Volume (Bbls/d)		Weighted Average Floor Price ($/Bbl)		Weighted Average Ceiling Price ($/Bbl)
Q4 2017		82,167	$	53.87		79,200	$	45.51	$	57.41
Q1-Q4 2018		22,792	$	51.13		34,121	$	45.71	$	55.71
Q1-Q4 2019		1,356	$	49.79		2,096	$	44.10	$	54.10

	Oil Basis Swaps
Period	Index	Volume (Bbls/d)		Weighted Average Differential to WTI ($/Bbl)
Q4 2017	Midland Sweet		20,000	$	(0.41	)
Q4 2017	Western Canadian Select		87,304	$	(14.57	)
Q1-Q4 2018	Midland Sweet		23,000	$	(1.02	)
Q1-Q4 2018	Western Canadian Select		59,718	$	(14.85	)
Q1-Q4 2019	Midland Sweet		1,000	$	(0.80	)

Open Natural Gas Derivative Positions [Member]

Derivative [Line Items]

Schedule Of Open Derivative Positions

	Price Swaps				Price Collars
Period	Volume (MMBtu/d)		Weighted Average Price ($/MMBtu)		Volume (MMBtu/d)		Weighted Average Floor Price ($/MMBtu)		Weighted Average Ceiling Price ($/MMBtu)
Q4 2017		331,196	$	3.21		455,000	$	3.03	$	3.41
Q1-Q4 2018		261,888	$	3.09		149,982	$	2.99	$	3.30
Q1-Q4 2019		6,164	$	3.08		8,630	$	2.92	$	3.22

	Natural Gas Basis Swaps
Period	Index	Volume (MMBtu/d)		Weighted Average Differential to Henry Hub ($/MMBtu)
Q4 2017	Panhandle Eastern Pipe Line		150,000	$	(0.34	)
Q4 2017	El Paso Natural Gas		80,000	$	(0.13	)
Q4 2017	Houston Ship Channel		35,000	$	0.06
Q4 2017	Transco Zone 4		205,000	$	0.03
Q1-Q4 2018	Panhandle Eastern Pipe Line		50,000	$	(0.29	)

Open NGL Derivative Positions [Member]

Derivative [Line Items]

Schedule Of Open Derivative Positions

		Price Swaps				Price Collars
Period	Product	Volume (Bbls/d)		Weighted Average Price ($/Bbl)		Volume (Bbls/d)		Weighted Average Floor Price ($/Bbl)		Weighted Average Ceiling Price ($/Bbl)
Q4 2017	Propane		2,663	$	31.98		1,000	$	28.35	$	30.45

Gas Processing And Fractionation Open Positions [Member] | EnLink [Member]

Derivative [Line Items]

Schedule Of Open Derivative Positions

Period	Product	Volume (Total)			Weighted Average Price Paid	Weighted Average Price Received
Q4 2017-Q3 2018	Propane		537	MBbls	Index	$0.66/gal
Q4 2017-Q3 2018	Normal Butane		344	MBbls	Index	$0.77/gal