Divestitures

Onshore US Properties During the first six months of 2015, we sold certain onshore US crude oil and natural gas properties, generating net proceeds of $151 million. Proceeds were primarily applied to the DJ Basin depletable field, with no recognition of gain or loss, other than a de minimis gain in second quarter 2015.

During the first six months of 2014, we sold certain non-core onshore US crude oil and natural gas properties. Gains from asset sales during the second quarter of 2014 were de minimis. The information regarding the assets sold is as follows:



	Six Months Ended June 30,
(millions)	2014
Sales Proceeds	$	110
Less
Net Book Value of Assets Sold	(118		)
Goodwill Allocated to Assets Sold	(6		)
Asset Retirement Obligations Associated with Assets Sold	20
Gain on Divestitures	$	6

China Sale On June 30, 2014, we closed the sale of our China assets. We determined the sale of our China assets did not meet the criteria for discontinued operations presentation. The information regarding the China assets sold is as follows:



	Six Months Ended June 30,
(millions)	2014
Sales Proceeds ⁽¹⁾	$	186
Less
Net Book Value of Assets Sold	(149		)
Other Closing Adjustments	(2		)
Gain on Divestiture	$	35

⁽¹⁾ Includes $150 million cash received on July 2, 2014, which was recorded as accounts receivable at June 30, 2014.