XML 45 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
STATEMENT OF CONSOLIDATED OPERATIONS (Unaudited) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Oil and gas production revenues        
Oil and gas production revenues $ 3,708 $ 4,001 $ 7,355 $ 8,022
Derivative instrument gains (losses), net (174) 247 (194) 147
Other (50) 20 (2) 45
Total revenues and other 3,484 4,268 7,159 8,214
Oil and gas property and equipment        
Depreciation, depletion and amortization 1,457 1,350 2,663 2,662
Asset retirement obligation accretion 45 64 89 127
Lease operating expenses 613 781 1,210 1,503
Gathering and transportation 66 77 136 150
Taxes other than income 181 170 362 399
General and administrative 94 126 199 238
Acquisition, divestiture, and separation costs 14   30  
Financing costs, net 35 52 62 107
Total operating expenses 2,505 2,620 4,751 5,186
NET INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 979 1,648 2,408 3,028
Current income tax provision 325 284 741 781
Deferred income tax provision 41 327 203 432
NET INCOME (LOSS) FROM CONTINUING OPERATIONS INCLUDING NONCONTROLLING INTEREST 613 1,037 1,464 1,815
Net loss from discontinued operations, net of tax 0 (2) (517) (63)
NET INCOME INCLUDING NONCONTROLLING INTEREST 613 1,035 947 1,752
Preferred stock dividends 0 19 0 38
Net income attributable to noncontrolling interest 108   206  
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK 505 1,016 741 1,714
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS:        
Net income from continuing operations attributable to common shareholders 505 1,018 1,258 1,777
Net loss from discontinued operations 0 (2) (517) (63)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK 505 1,016 741 1,714
NET INCOME PER COMMON SHARE:        
Basic net income from continuing operations per share $ 1.31 $ 2.60 $ 3.23 $ 4.53
Basic net loss from discontinued operations per share $ 0.00 $ (0.01) $ (1.33) $ (0.16)
Basic net income per share $ 1.31 $ 2.59 $ 1.90 $ 4.37
DILUTED NET INCOME PER COMMON SHARE:        
Diluted net income from continuing operations per share $ 1.31 $ 2.54 $ 3.21 $ 4.45
Diluted net loss from discontinued operations per share $ 0.00   $ (1.32) $ (0.15)
Diluted net income per share $ 1.31 $ 2.54 $ 1.89 $ 4.30
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:        
Basic 385 392 390 392
Diluted 387 408 392 408
DIVIDENDS DECLARED PER COMMON SHARE $ 0.25 $ 0.20 $ 0.50 $ 0.40
Other Assets [Member]
       
Oil and gas property and equipment        
Depreciation, depletion and amortization 99 92 196 194
Oil And Gas Property And Equipment Recurring [Member]
       
Oil and gas property and equipment        
Depreciation, depletion and amortization 1,155 1,258 2,264 2,468
Oil And Gas Property And Equipment Additional [Member]
       
Oil and gas property and equipment        
Depreciation, depletion and amortization 203   203  
Oil Reserves [Member]
       
Oil and gas production revenues        
Revenues 2,950 3,130 5,765 6,322
Natural Gas [Member]
       
Oil and gas production revenues        
Revenues 589 721 1,235 1,402
Natural Gas Liquids Revenues [Member]
       
Oil and gas production revenues        
Revenues $ 169 $ 150 $ 355 $ 298