ACQUISITIONS AND DIVESTITURES (Tables)

9 Months Ended

Sep. 30, 2012

Two Thousand Eleven Acquisitions [Member]

Assets Acquired and Liabilities Assumed as of Acquisition Date

The final determination of fair value for certain assets and liabilities will be completed as soon as the information necessary to complete the analysis is obtained, but no later than one year from the acquisition date.

	(In millions)
Current assets	$	208
Proved properties		2,341
Unproved properties		476
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.

Two Thousand Twelve Acquisitions [Member]

Assets Acquired and Liabilities Assumed as of Acquisition Date

The final determination of fair value for certain assets and liabilities will be completed as soon as the information necessary to complete the analysis is obtained, but no later than one year from the acquisition date.

	(In millions)
Current assets	$	56
Proved properties		1,040
Unproved properties		2,288
Gathering, transmission and processing facilities		1
Total assets acquired	$	3,385
Current liabilities		86
Non-current obligations		5
Total liabilities assumed	$	91
Net assets acquired	$	3,294