Acquisitions and Divestitures (Tables)

3 Months Ended

Mar. 31, 2012

Acquisitions and Divestitures [Abstract]

Assets acquired and liabilities assumed as of the acquisition date

	(In millions)
Current assets	$	208
Oil and gas properties		2,817
Gathering, transmission and processing facilities		338
Goodwill (1)		82
Total assets acquired	$	3,445
Current liabilities		148
Asset retirement obligation		517
Deferred income tax liabilities		1,533
Other long-term obligations		1
Total liabilities assumed	$	2,199
Net assets acquired	$	1,246

⁽¹⁾  Goodwill was the excess of the consideration transferred over the net assets recognized and represents the future economic benefits arising from assets acquired that could not be individually identified and separately recognized. Goodwill is not deductible for tax purposes.