Rosetta Merger Rosetta Merger (Tables)

6 Months Ended

Jun. 30, 2015

Business Combinations [Abstract]

Unsettled Derivative Instruments

rude Oil Derivative Instruments

				Swaps		Collars
Settlement Period	Type of Contract	Index (1)	Bbls Per Day	Weighted Average Fixed Price		Weighted Average  Short Put  Price		Weighted Average Floor Price		Weighted Average  Ceiling Price
Instruments Entered Into as of July 20, 2015
2015	Two-Way Collars	–	8,000	$	—	$	—	$	55.00	$	84.80
2015	Swaps	–	12,000	89.81		—		—		—
2016	Swaps	–	6,000	90.28		—		—		—

⁽¹⁾ Includes a combination of NYMEX WTI and Argus LLS indices.

Natural Gas Derivative Instruments

				Swaps		Collars
Settlement Period	Type of Contract	Index (1)	MMBtu Per Day	Weighted Average Fixed Price		Weighted Average  Short Put  Price		Weighted Average Floor Price		Weighted Average  Ceiling Price
Instruments Entered Into as of July 20, 2015
2015	Swaps	–	50,000	$	4.13	$	—	$	—	$	—
2015	Two-Way Collars	–	50,000	—		—		3.60		5.04
2016	Swaps	–	30,000	4.04		—		—		—
2016	Two-Way Collars	–	30,000	—		—		3.50		5.60

⁽¹⁾ Includes a combination of HSC (Houston Ship Channel) and TENNZ0 (Tennessee Zone 0) indices.

NGL Derivative Instruments

				Swaps		Collars
Settlement Period	Type of Contract	Index	Bbls Per Day	Weighted Average Fixed Price		Weighted Average  Short Put  Price		Weighted Average Floor Price		Weighted Average  Ceiling Price
Instruments Entered Into as of July 20, 2015
2015	Swaps	NGL-Ethane	2,476	$	11.18	$	—	$	—	$	—
2015	Swaps	NGL-Propane	1,750	43.35		—		—		—
2015	Swaps	NGL-Isobutane	617	53.05		—		—		—
2015	Swaps	NGL-Normal Butane	579	52.53		—		—		—
2015	Swaps	NGL-Pentanes Plus	579	77.72		—		—		—

Unsettled Commodity Derivative Instruments   As of June 30, 2015, we had entered into the following crude oil derivative instruments: 

				Swaps		Collars
Settlement Period	Type of Contract	Index	Bbls Per Day	Weighted Average Fixed Price		Weighted Average  Short Put  Price		Weighted Average Floor Price		Weighted Average  Ceiling Price
Instruments Entered Into as of June 30, 2015
2015	Swaps	NYMEX WTI	27,000	$	88.80	$	—	$	—	$	—
2015	Swaps	Dated Brent	8,000	100.31		—		—		—
2015	Two-Way Collars	NYMEX WTI	5,000	—		—		50.00		64.94
2015	Three-Way Collars	NYMEX WTI	20,000	—		70.50		87.55		94.41
2015	Three-Way Collars	Dated Brent	13,000	—		76.92		96.00		108.49
2016	Swaps	NYMEX WTI	9,000	80.30		—		—		—
2016	Swaps	Dated Brent	9,000	97.96		—		—		—
2016	Two -Way Collars	NYMEX WTI	1,000	—		—		60.00		70.00
2016	Three-Way Collars	NYMEX WTI	6,000	—		61.00		72.50		86.37
2016	Three-Way Collars	Dated Brent	8,000	—		72.50		86.25		101.79

As of June 30, 2015, we had entered into the following natural gas derivative instruments:

				Swaps		Collars
Settlement Period	Type of Contract	Index	MMBtu Per Day	Weighted Average Fixed Price		Weighted Average Short Put  Price		Weighted Average Floor Price		Weighted Average Ceiling Price
Instruments Entered Into as of June 30, 2015
2015	Swaps	NYMEX HH	140,000	$	4.30	$	—	$	—	$	—
2015	Three-Way Collars	NYMEX HH	150,000	—		3.58		4.25		5.04
2016	Swaps (1)	NYMEX HH	40,000	3.60		—		—		—
2016	Two-Way Collars	NYMEX HH	30,000	—		—		3.00		3.50
2016	Three-Way Collars	NYMEX HH	90,000	—		2.83		3.42		3.90

Schedule of debt

In connection with the Rosetta Merger, we assumed the following outstanding debt:

	July 20, 2015
(millions, except percentages)	Debt		Interest Rate
Credit Facility, due April 12, 2018	$	70	—	%
5.625% Senior Notes, due May 1, 2021	700		5.625	%
5.875% Senior Notes, due June 1, 2022	600		5.875	%
5.875% Senior Notes, due June 1, 2024	500		5.875	%
Total	$	1,870

Debt consists of the following:

	June 30, 2015					December 31, 2014
(millions, except percentages)	Debt			Interest Rate		Debt			Interest Rate
Credit Facility, due October 3, 2018	$	—		—	%	$	—		—	%
Capital Lease Obligations	414			—	%	413			—	%
8.25% Senior Notes, due March 1, 2019	1,000			8.25	%	1,000			8.25	%
4.15% Senior Notes, due December 15, 2021	1,000			4.15	%	1,000			4.15	%
7.25% Senior Notes, due October 15, 2023	100			7.25	%	100			7.25	%
3.90% Senior Notes, due November 15, 2024	650			3.90	%	650			3.90	%
8.00% Senior Notes, due April 1, 2027	250			8.00	%	250			8.00	%
6.00% Senior Notes, due March 1, 2041	850			6.00	%	850			6.00	%
5.25% Senior Notes, due November 15, 2043	1,000			5.25	%	1,000			5.25	%
5.05% Senior Notes, due November 15, 2044	850			5.05	%	850			5.05	%
7.25% Senior Debentures, due August 1, 2097	84			7.25	%	84			7.25	%
Total	6,198					6,197
Unamortized Discount	(25		)			(26		)
Total Debt, Net of Discount	6,173					6,171
Less Amounts Due Within One Year
Capital Lease Obligations	(61		)			(68		)
Long-Term Debt Due After One Year	$	6,112				$	6,103