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FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Dec. 31, 2016
FAIR VALUE MEASUREMENTS |
Assets and liabilities measured at fair value on a recurring basis |
(in millions) |  | Fair Value Measurements at December 31, 2016 Using |  | Netting and Collateral |  | Total Fair Value
Description |  |  |  | Level 1 |  | Level 2 |  | Level 3 |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Embedded derivative |  | Accrued liabilities |  | $ | — |  |  | $ | 43 |  |  | $ | — |  |  | $ | — |  |  | $ | 43 |
| Deferred credits and liabilities |  | $ | — |  |  | $ | 178 |  |  | $ | — |  |  | $ | — |  |  | $ | 178 |
(in millions) |  | Fair Value Measurements at December 31, 2015 Using |  | Netting and Collateral |  | Total Fair Value
Description |  |  |  | Level 1 |  | Level 2 |  | Level 3 |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Available for sale investment |  |  |  | $ | 167 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 167 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Embedded derivative |  | Accrued liabilities |  | $ | — |  |  | $ | 47 |  |  | $ | — |  |  | $ | — |  |  | $ | 47 |
| Deferred credits and liabilities |  | $ | — |  |  | $ | 267 |  |  | $ | — |  |  | $ | — |  |  | $ | 267 |
Schedule of fair value measurement for proved domestic and international oil and gas properties that are measured on a nonrecurring basis |
(in millions) |  | Fair Value Measurements at December 31, 2015 Using |  | Net Book Value (a) |  | Total Pre-tax (Non-cash) Impairment Loss
Description |  | Level 1 |  | Level 2 |  | Level 3 |  |
Assets: |  |  |  |  |  |  |  |  |  |
Impaired proved oil and gas assets - international |  | $ | — |  |  | $ | — |  |  | $ | 2,666 |  |  | $ | 7,359 |  |  | $ | 4,693 |
Impaired proved oil and gas assets - domestic |  | $ | — |  |  | $ | — |  |  | $ | 625 |  |  | $ | 1,655 |  |  | $ | 1,030 |
Impaired Midstream assets |  | $ | — |  |  | $ | — |  |  | $ | 50 |  |  | $ | 891 |  |  | $ | 841 |
Impaired Chemical property, plant, and equipment |  | $ | — |  |  | $ | — |  |  | $ | 3 |  |  | $ | 124 |  |  | $ | 121 |
(in millions) |  | Fair Value Measurements at September 30, 2015 Using |  | Net Book Value (a) |  | Total Pre-tax (Non-cash) Impairment Loss
Description |  | Level 1 |  | Level 2 |  | Level 3 |  |
Williston proved oil and gas assets (b) |  | $ | — |  |  | $ | — |  |  | $ | 615 |  |  | $ | 1,378 |  |  | $ | 763 |
(a) Amount represents net book value at date of assessment. (b) Williston assets sold in November 2015, classified as held for sale and written down to the sales price at September 30, 2015.

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
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