Inventory, Linefill and Long-term Inventory (Tables)

6 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

Schedule of inventory

Inventory, linefill and long-term inventory consisted of the following (barrels in thousands and carrying value in millions):

	June 30, 2023						December 31, 2022
	Volumes	Unit of Measure	Carrying Value		Price/ Unit (1)		Volumes	Unit of Measure	Carrying Value		Price/ Unit (1)
Inventory
Crude oil	3,150	barrels	$	213	$	67.62	6,713	barrels	$	452	$	67.33
NGL	5,084	barrels	144		$	28.32	7,285	barrels	270		$	37.06
Other	N/A		10		N/A		N/A		7		N/A
Inventory subtotal			367						729
Linefill
Crude oil	15,226	barrels	898		$	58.98	15,480	barrels	906		$	58.53
NGL	2,168	barrels	68		$	31.37	1,876	barrels	55		$	29.32
Linefill subtotal			966						961
Long-term inventory
Crude oil	3,254	barrels	224		$	68.84	3,102	barrels	246		$	79.30
NGL	1,327	barrels	46		$	34.66	1,066	barrels	38		$	35.65
Long-term inventory subtotal			270						284
Total			$	1,603					$	1,974

(1)Price per unit of measure is comprised of a weighted average associated with various grades, qualities and locations. Accordingly, these prices may not coincide with any published benchmarks for such products.

Schedule of linefill and long-term inventory

Inventory, linefill and long-term inventory consisted of the following (barrels in thousands and carrying value in millions):

	June 30, 2023						December 31, 2022
	Volumes	Unit of Measure	Carrying Value		Price/ Unit (1)		Volumes	Unit of Measure	Carrying Value		Price/ Unit (1)
Inventory
Crude oil	3,150	barrels	$	213	$	67.62	6,713	barrels	$	452	$	67.33
NGL	5,084	barrels	144		$	28.32	7,285	barrels	270		$	37.06
Other	N/A		10		N/A		N/A		7		N/A
Inventory subtotal			367						729
Linefill
Crude oil	15,226	barrels	898		$	58.98	15,480	barrels	906		$	58.53
NGL	2,168	barrels	68		$	31.37	1,876	barrels	55		$	29.32
Linefill subtotal			966						961
Long-term inventory
Crude oil	3,254	barrels	224		$	68.84	3,102	barrels	246		$	79.30
NGL	1,327	barrels	46		$	34.66	1,066	barrels	38		$	35.65
Long-term inventory subtotal			270						284
Total			$	1,603					$	1,974

(1)Price per unit of measure is comprised of a weighted average associated with various grades, qualities and locations. Accordingly, these prices may not coincide with any published benchmarks for such products.