XML 74 R38.htm IDEA: XBRL DOCUMENT v2.4.0.8
Financial Instruments (Unaudited) Oil and Gas (Details) (USD $)
In Millions, unless otherwise specified
 6 Months Ended 6 Months Ended
Jun. 30, 2014
Dec. 31, 2013
Jun. 30, 2014
Derivatives not designated as hedging instruments [Member]
Natural gas swaps [Member]
MMBTU
Jun. 30, 2014
2014 Positions [Member]
Derivatives not designated as hedging instruments [Member]
Crude Oil Options [Member]
MMBTU
Jun. 30, 2014
2014 Positions [Member]
Derivatives not designated as hedging instruments [Member]
Crude Oil Options [Member]
5 MBbls [Member]
Put Option [Member]
MBbls
Jun. 30, 2014
2014 Positions [Member]
Derivatives not designated as hedging instruments [Member]
Crude Oil Options [Member]
30 MBbls [Member]
Put Option [Member]
MBbls
Jun. 30, 2014
2014 Positions [Member]
Derivatives not designated as hedging instruments [Member]
Crude Oil Options [Member]
75 MBbls [Member]
Put Option [Member]
MBbls
Jun. 30, 2014
2014 Positions [Member]
Derivatives not designated as hedging instruments [Member]
Natural gas swaps [Member]
MMBTU
Jun. 30, 2014
2015 Positions [Member]
Derivatives not designated as hedging instruments [Member]
Crude Oil Options [Member]
MMBTU
Jun. 30, 2014
2015 Positions [Member]
Derivatives not designated as hedging instruments [Member]
Crude Oil Options [Member]
84 MBbls [Member]
Put Option [Member]
MBbls
Jun. 30, 2014
Deferred Option Premiums and Accrued Interest [Member]
Dec. 31, 2013
Deferred Option Premiums and Accrued Interest [Member]
Jun. 30, 2014
Weighted Average [Member]
Crude Oil Options [Member]
Jun. 30, 2014
Weighted Average [Member]
2014 Positions [Member]
Derivatives not designated as hedging instruments [Member]
Crude Oil Options [Member]
5 MBbls [Member]
Put Option [Member]
Jun. 30, 2014
Weighted Average [Member]
2014 Positions [Member]
Derivatives not designated as hedging instruments [Member]
Crude Oil Options [Member]
30 MBbls [Member]
Put Option [Member]
Jun. 30, 2014
Weighted Average [Member]
2014 Positions [Member]
Derivatives not designated as hedging instruments [Member]
Crude Oil Options [Member]
75 MBbls [Member]
Put Option [Member]
Jun. 30, 2014
Weighted Average [Member]
2015 Positions [Member]
Derivatives not designated as hedging instruments [Member]
Crude Oil Options [Member]
84 MBbls [Member]
Put Option [Member]
Derivative [Line Items]                                  
Derivative Liability $ 317 $ 320                 $ 329 $ 444          
Daily Volumes (Bbls)     18,000,000 20,000,000 75 [1] 30 [1] 5 [1] 100,000 31,000,000 84 [1]              
Derivative, Average Floor Price         90 [1],[2] 95 [1],[2] 100 [1],[2]     90 [1],[2]              
Derivative, Average Floor Price Limit         70 [1],[2] 75 [1],[2] 80 [1],[2]     70 [1],[2]              
Deferred Premium Price                         6.49 5.74 [1] 6.09 [1] 7.11 [1] 6.89 [1]
Derivative, Underlying Basis         Brent [1] Brent [1] Brent [1]     Brent [1]              
Derivative Latest Maturity Period               December 2014                  
Maximum Price Limit per Barrel 20                                
Derivative, Swap Type, Fixed Price               4.09                  
[1] If the index price is less than the per barrel floor, FCX receives the difference between the per barrel floor and the index price up to a maximum of $20 per barrel less the option premium. If the index price is at or above the per barrel floor, FCX pays the option premium and no cash settlement is received.
[2] The average strike prices do not reflect any premiums to purchase the put options.