BUSINESS SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2019

Financial information for each segment is presented below:



	Egypt⁽¹⁾		North Sea		U.S.			Altus			Intersegment Eliminations & Other			Total⁽²⁾
	Upstream							Midstream
	(In millions)
For the Quarter Ended September 30, 2019
Oil revenues	$	472	$	231	$	504		$	—		$	—		$	1,207
Natural gas revenues	72		14		50			—			—			136
Natural gas liquids revenues	2		5		88			—			—			95
Oil and gas production revenues	546		250		642			—			—			1,438
Midstream service affiliate revenues	—		—		—			34			(34		)	—

Operating Expenses:
Lease operating expenses	115		76		159			—			—			350
Gathering, processing, and transmission	9		9		69			13			(34		)	66
Taxes other than income	—		—		40			4			—			44
Exploration	27		—		25			—			4			56
Depreciation, depletion, and amortization	177		71		452			11			—			711
Asset retirement obligation accretion	—		19		8			—			—			27
Impairments	—		—		—			9			—			9
	328		175		753			37			(30		)	1,263
Operating Income (Loss)⁽³⁾	$	218	$	75	$	(111	)	$	(3	)	$	(4	)	175
Other Income (Expense):
Derivative instrument losses, net														(2		)
Other⁽⁴⁾														41
General and administrative														(98		)
Transaction, reorganization, and separation														(7		)
Financing costs, net														(95		)
Income Before Income Taxes														$	14



	Egypt⁽¹⁾		North Sea		U.S.			Altus		Intersegment Eliminations & Other			Total⁽²⁾
	Upstream							Midstream
	(In millions)
For the Nine Months Ended September 30, 2019
Oil revenues	$	1,509	$	868	$	1,537		$	—	$	—		$	3,914
Natural gas revenues	223		64		203			—		—			490
Natural gas liquids revenues	9		16		261			—		—			286
Oil and gas production revenues	1,741		948		2,001			—		—			4,690
Midstream service affiliate revenues	—		—		—			92		(92		)	—

Operating Expenses:
Lease operating expenses	365		240		501			—		(2		)	1,104
Gathering, processing, and transmission	31		32		214			43		(90		)	230
Taxes other than income	—		—		131			10		—			141
Exploration	89		2		117			—		12			220
Depreciation, depletion, and amortization	538		269		1,125			27		—			1,959
Asset retirement obligation accretion	—		56		23			1		—			80
Impairments	—		—		240			9		—			249
	1,023		599		2,351			90		(80		)	3,983
Operating Income (Loss)⁽³⁾	$	718	$	349	$	(350	)	$	2	$	(12	)	707
Other Income (Expense):
Gain on divestitures													20
Derivative instrument losses, net													(40		)
Other⁽⁴⁾													45
General and administrative													(323		)
Transaction, reorganization, and separation													(17		)
Financing costs, net													(365		)
Income Before Income Taxes													$	27

Total Assets⁽⁵⁾	$	3,851	$	2,529	$	12,288		$	2,649	$	88		$	21,405

For the Quarter Ended September 30, 2018
Oil revenues	$	669	$	303	$	583		$	—	$	—		$	1,555
Natural gas revenues	86		30		125			—		—			241
Natural gas liquids revenues	4		5		171			—		—			180
Oil and gas production revenues	759		338		879			—		—			1,976
Midstream service affiliate revenues	—		—		—			25		(25		)	—

Operating Expenses:
Lease operating expenses	112		92		178			—		—			382
Gathering, processing, and transmission	12		12		76			17		(25		)	92
Taxes other than income	—		—		57			1		—			58
Exploration	10		2		86			—		1			99
Depreciation, depletion, and amortization	187		89		329			5		—			610
Asset retirement obligation accretion	—		19		8			—		—			27
Impairments	—		10		—			—		—			10
	321		224		734			23		(24		)	1,278
Operating Income (Loss)⁽³⁾	$	438	$	114	$	145		$	2	$	(1	)	698
Other Income (Expense):
Gain on divestitures													1
Derivative instrument losses, net													(23		)
Other⁽⁴⁾													29
General and administrative													(99		)
Transaction, reorganization, and separation													(8		)
Financing costs, net													(192		)
Income Before Income Taxes													$	406



	Egypt⁽¹⁾		North Sea		U.S.		Altus			Intersegment Eliminations & Other			Total⁽²⁾
	Upstream						Midstream
	(In millions)
For the Nine Months Ended September 30, 2018
Oil revenues	$	1,887	$	894	$	1,743	$	—		$	—		$	4,524
Natural gas revenues	263		81		331		—			—			675
Natural gas liquids revenues	11		14		421		—			—			446
Oil and gas production revenues	2,161		989		2,495		—			—			5,645
Midstream service affiliate revenues	—		—		—		50			(50		)	—

Operating Expenses:
Lease operating expenses	316		264		507		—			—			1,087
Gathering, processing, and transmission	35		32		204		39			(50		)	260
Taxes other than income	—		—		156		6			—			162
Exploration	70		19		159		—			3			251
Depreciation, depletion, and amortization	564		281		913		13			—			1,771
Asset retirement obligation accretion	—		56		24		1			—			81
Impairments	—		10		—		—			—			10
	985		662		1,963		59			(47		)	3,622
Operating Income (Loss)⁽³⁾	$	1,176	$	327	$	532	$	(9	)	$	(3	)	2,023
Other Income (Expense):
Gain on divestitures													10
Derivative instrument losses, net													(46		)
Other⁽⁴⁾													50
General and administrative													(330		)
Transaction, reorganization, and separation													(20		)
Financing costs, net													(385		)
Income Before Income Taxes													$	1,302

Total Assets⁽⁵⁾	$	4,404	$	3,033	$	13,335	$	1,054		$	44		$	21,870


(1)	Includes revenue from non-customers for the third quarters and nine-month periods of 2019 and 2018 of:



	For the Quarter Ended September 30,				For the Nine Months Ended September 30,
	2019		2018		2019		2018
	(In millions)
Oil	$	98	$	181	$	316	$	485
Natural gas	9		16		30		47
Natural gas liquids	—		1		1		2


(2)	Includes a noncontrolling interest in Egypt for the 2019 and 2018 periods, and Altus for the 2019 period.

(3)

The operating income (loss) of Altus Midstream, U.S., and Egypt includes leasehold and other asset impairments totaling $9 million, $10 million, and $2 million, respectively, for the third quarter of 2019. The operating income of Altus Midstream, U.S., and Egypt includes leasehold and other asset impairments totaling $9 million, $308 million, and $6 million, respectively, for the first nine months of 2019. The operating income (loss) of U.S. and North Sea includes leasehold and unproved impairments totaling $39 million and $10 million, respectively, for the third quarter of 2018. The operating income of U.S. and North Sea includes leasehold and unproved impairments totaling $76 million and $10 million, respectively, for the first nine months of 2018.


(4)	Included in Other are sales proceeds related to U.S. third-party purchased oil and gas volumes which are determined to be revenue from customers. Proceeds for these volumes totaled $30 million and $124 million for the third quarters of 2019 and 2018, respectively, and $71 million and $326 million for the first nine months of 2019 and 2018, respectively.

(5)

Intercompany balances are excluded from total assets.