BUSINESS SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of Financial Segment Information

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 June 30, 2020
Revenues:
Oil revenues	$	187		$	128		$	198		$	—	$	—		$	513
Natural gas revenues	70			7			53			—		—			130
Natural gas liquids revenues	1			3			50			—		—			54
Oil, natural gas, and natural gas liquids production revenues	258			138			301			—		—			697
Purchased oil and gas sales	—			—			54			1		—			55
Midstream service affiliate revenues	—			—			—			31		(31		)	—
	258			138			355			32		(31		)	752
Operating Expenses:
Lease operating expenses	98			75			90			—		1			264
Gathering, processing, and transmission	13			11			70			10		(32		)	72
Purchased oil and gas costs	—			—			46			—		—			46
Taxes other than income	—			—			20			3		—			23
Exploration	22			15			31			—		4			72
Depreciation, depletion, and amortization	158			79			178			3		—			418
Asset retirement obligation accretion	—			18			8			1		—			27
Impairments	20			—			—			—		—			20
	311			198			443			17		(27		)	942
Operating Income (Loss)⁽³⁾	$	(53	)	$	(60	)	$	(88	)	$	15	$	(4	)	(190		)
Other Income (Expense):
Derivative instrument losses, net															(175		)
Other, net															19
General and administrative															(94		)
Transaction, reorganization, and separation															(10		)
Financing costs, net															34
Loss Before Income Taxes															$	(416	)



	Egypt⁽¹⁾			North Sea		U.S.			Altus		Intersegment Eliminations & Other			Total⁽²⁾
	Upstream								Midstream
	(In millions)
For the Six Months Ended June 30, 2020
Revenues:
Oil revenues	$	520		$	399	$	626		$	—	$	—		$	1,545
Natural gas revenues	135			26		92			—		—			253
Natural gas liquids revenues	4			10		121			—		—			135
Oil, natural gas, and natural gas liquids production revenues	659			435		839			—		—			1,933
Purchased oil and gas sales	—			—		162			1		—			163
Midstream service affiliate revenues	—			—		—			72		(72		)	—
	659			435		1,001			73		(72		)	2,096

Operating Expenses:
Lease operating expenses	210			156		233			—		—			599
Gathering, processing, and transmission	23			27		145			20		(72		)	143
Purchased oil and gas costs	—			—		131			1		—			132
Taxes other than income	—			—		49			7		—			56
Exploration	40			17		66			—		6			129
Depreciation, depletion, and amortization	319			188		471			6		—			984
Asset retirement obligation accretion	—			36		16			2		—			54
Impairments	529			7		3,956			—		—			4,492
	1,121			431		5,067			36		(66		)	6,589
Operating Income (Loss)⁽³⁾	$	(462	)	$	4	$	(4,066	)	$	37	$	(6	)	(4,493		)
Other Income (Expense):
Gain on divestitures														25
Derivative instrument losses, net														(278		)
Other														32
General and administrative														(162		)
Transaction, reorganization, and separation														(37		)
Financing costs, net														(69		)
Loss Before Income Taxes														$	(4,982	)

Total Assets⁽⁴⁾	$	3,098		$	2,339	$	5,821		$	1,627	$	114		$	12,999



	Egypt⁽¹⁾		North Sea		U.S.			Altus			Intersegment Eliminations & Other			Total⁽²⁾
	Upstream							Midstream
	(In millions)
For the Quarter Ended June 30, 2019
Revenues:
Oil revenues	$	523	$	337	$	537		$	—		$	—		$	1,397
Natural gas revenues	70		18		30			—			—			118
Natural gas liquids revenues	3		5		75			—			—			83
Oil, natural gas, and natural gas liquids production revenues	596		360		642			—			—			1,598
Purchased oil and gas sales	—		—		18			—			—			18
Midstream service affiliate revenues	—		—		—			24			(24		)	—
	596		360		660			24			(24		)	1,616

Operating Expenses:
Lease operating expenses	132		92		166			—			(1		)	389
Gathering, processing, and transmission	10		11		64			14			(23		)	76
Purchased oil and gas costs	—		—		15			—			—			15
Taxes other than income	—		—		42			4			—			46
Exploration	30		1		59			—			5			95
Depreciation, depletion, and amortization	174		99		320			9			—			602
Asset retirement obligation accretion	—		18		8			—			—			26
Impairments	—		—		240			—			—			240
	346		221		914			27			(19		)	1,489
Operating Income (Loss)⁽³⁾	$	250	$	139	$	(254	)	$	(3	)	$	(5	)	127
Other Income (Expense):
Gain on divestitures														17
Derivative instrument losses, net														(8		)
Other														(7		)
General and administrative														(102		)
Transaction, reorganization, and separation														(6		)
Financing costs, net														(173		)
Loss Before Income Taxes														$	(152	)



	Egypt⁽¹⁾		North Sea		U.S.			Altus		Intersegment Eliminations & Other			Total⁽²⁾
	Upstream							Midstream
	(In millions)
For the Six Months Ended June 30, 2019
Revenues:
Oil revenues	$	1,037	$	637	$	1,033		$	—	$	—		$	2,707
Natural gas revenues	151		50		153			—		—			354
Natural gas liquids revenues	7		11		173			—		—			191
Oil, natural gas, and natural gas liquids production revenues	1,195		698		1,359			—		—			3,252
Purchased oil and gas sales	—		—		42			—		—			42
Midstream service affiliate revenues	—		—		—			58		(58		)	—
	1,195		698		1,401			58		(58		)	3,294
Operating Expenses:
Lease operating expenses	250		164		342			—		(2		)	754
Gathering, processing, and transmission	22		23		145			30		(56		)	164
Purchased oil and gas costs	—		—		37			—		—			37
Taxes other than income	—		—		91			6		—			97
Exploration	62		2		92			—		8			164
Depreciation, depletion, and amortization	361		198		673			16		—			1,248
Asset retirement obligation accretion	—		37		15			1		—			53
Impairments	—		—		240			—		—			240
	695		424		1,635			53		(50		)	2,757
Operating Income (Loss)⁽³⁾	$	500	$	274	$	(234	)	$	5	$	(8	)	537
Other Income (Expense):
Gain on divestitures, net													20
Derivative instrument losses, net													(38		)
Other, net													(1		)
General and administrative													(225		)
Transaction, reorganization, and separation													(10		)
Financing costs, net													(270		)
Income Before Income Taxes													$	13

Total Assets⁽⁴⁾	$	4,035	$	2,568	$	12,710		$	2,434	$	59		$	21,806


(1)	Includes revenue from non-customers of:



	For the Quarter Ended June 30,					For the Six Months Ended June 30,
	2020			2019		2020		2019
	(In millions)
Oil	$	(18	)	$	111	$	27	$	218
Natural gas	—			9		3		21
Natural gas liquids	—			—		—		1


(2)	Includes a noncontrolling interest in Egypt and Altus.

(3)

The operating income (loss) of U.S. and Egypt includes leasehold and other asset impairments totaling $29 million and $22 million, respectively, for the second quarter of 2020. The operating income of U.S., Egypt, and North Sea includes leasehold and other asset impairments totaling $4.0 billion, $533 million, and $7 million, respectively, for the first six months of 2020. The operating income of U.S. and Egypt includes leasehold and other asset impairments totaling $277 million and $2 million, respectively, for the second quarter of 2019. The operating income of U.S. and Egypt includes leasehold and other asset impairments totaling $298 million and $4 million, respectively, for the first six months of 2019.

(4)

Intercompany balances are excluded from total assets.