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STATEMENT OF CONSOLIDATED CASH FLOWS (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:      
NET INCOME $ 2,001 $ 4,584 $ 3,032
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion, and amortization 7,109 4,204 3,083
Asset retirement obligation accretion 232 154 111
Provision for deferred income taxes 677 1,246 952
Other 226 46 190
Changes in operating assets and liabilities:      
Receivables 12 (759) (496)
Inventories (59) (37) 35
Drilling advances (343) 26 (28)
Deferred charges and other 61 27 (141)
Accounts payable (100) 241 214
Accrued expenses (1,142) 90 (309)
Deferred credits and noncurrent liabilities (170) 131 83
NET CASH PROVIDED BY OPERATING ACTIVITIES 8,504 9,953 6,726
CASH FLOWS FROM INVESTING ACTIVITIES:      
Additions to oil and gas property (8,781) (6,414) (4,407)
Additions to gas gathering, transmission, and processing facilities (750) (664) (515)
Acquisition of Cordillera Energy Partners III, LLC (2,666)    
Acquisition of Yara Pilbara Holdings Pty Limited (439)    
Acquisition of Devon properties     (1,018)
Acquisition of BP properties and facilities     (6,429)
Mariner Energy, Inc. merger     (787)
Acquisition of Mobil North Sea Limited   (1,246)  
Acquisitions, other (252) (567) (126)
Proceeds from sale of oil and gas properties 27 422  
Other, net (563) (176) (121)
NET CASH USED IN INVESTING ACTIVITIES (13,424) (8,645) (13,403)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Commercial paper, credit facility and bank notes, net 549 (925) (32)
Fixed rate debt borrowings 4,978   2,470
Payments on fixed rate debt (400)   (1,023)
Proceeds from issuance of common stock     2,258
Proceeds from issuance of mandatory convertible preferred stock     1,227
Dividends paid (332) (306) (226)
Other (10) 84 89
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 4,785 (1,147) 4,763
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (135) 161 (1,914)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 295 134 2,048
CASH AND CASH EQUIVALENTS AT END OF PERIOD 160 295 134
SUPPLEMENTARY CASH FLOW DATA:      
Interest paid, net of capitalized interest 146 156 187
Income taxes paid, net of refunds $ 2,590 $ 1,686 $ 1,170