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Derivative Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2015
Derivative [Line Items] |
Schedule Of Derivative Financial Instruments Included In Consolidated Statements Of Earnings And Consolidated Balance Sheets | The following table presents the net gains and losses by derivative financial instrument type followed by the corresponding individual comprehensive statements of earnings caption.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2015 |  | 2014 |  | 2015 |  | 2014
Commodity derivatives: |  | (Millions)
Oil, gas and NGL derivatives |  | $ | 414 |  | $ | 748 |  | $ | 426 |  | $ | 29
Marketing and midstream revenues |  |  | 6 |  |  | 1 |  |  | 8 |  |  | (2)
Interest rate derivatives: |  |  |  |  |  |  |  |  |  |  |  |
Other nonoperating items |  |  | (30) |  |  | — |  |  | (28) |  |  | 1
Foreign currency derivatives: |  |  |  |  |  |  |  |  |  |  |  |
Other nonoperating items |  |  | 91 |  |  | 55 |  |  | 200 |  |  | 15
Net gains recognized |  | $ | 481 |  | $ | 804 |  | $ | 606 |  | $ | 43
The following table presents the derivative fair values by derivative financial instrument type followed by the corresponding individual consolidated balance sheet caption.
|  |  | September 30, 2015 |  | December 31, 2014
|  |  | (Millions)
Commodity derivative assets: |  |  |  |  |  |  |
Derivatives, at fair value |  |  | $ | 687 |  | $ | 1,984
Other long-term assets |  |  |  | 4 |  |  | 11
Interest rate derivative assets: |  |  |  |  |  |  |
Derivatives, at fair value |  |  |  | 1 |  |  | 1
Other long-term assets |  |  |  | 1 |  |  | —
Foreign currency derivative assets: |  |  |  |  |  |  |
Derivatives, at fair value |  |  |  | 2 |  |  | 8
Total derivative assets |  |  | $ | 695 |  | $ | 2,004
Commodity derivative liabilities: |  |  |  |  |  |  |
Other current liabilities |  |  | $ | 19 |  | $ | 28
Other long-term liabilities |  |  |  | 5 |  |  | 28
Interest rate derivative liabilities: |  |  |  |  |  |  |
Other current liabilities |  |  |  | 1 |  |  | 1
Other long-term liabilities |  |  |  | 30 |  |  | —
Total derivative liabilities |  |  | $ | 55 |  | $ | 57
Open Oil Derivative Positions [Member] |
Derivative [Line Items] |
Schedule Of Open Derivative Positions |
|  | Price Swaps |  | Price Collars |  | Call Options Sold
Period |  | Volume (Bbls/d) |  | Weighted Average Price ($/Bbl) |  | Volume (Bbls/d) |  | Weighted Average Floor Price ($/Bbl) |  | Weighted Average Ceiling Price ($/Bbl) |  | Volume (Bbls/d) |  | Weighted Average Price ($/Bbl)
Q4 2015 |  | 107,000 |  | $ | 90.61 |  | 44,000 |  | $ | 81.36 |  | $ | 88.63 |  | 28,000 |  | $ | 116.43
Q1-Q4 2016 |  | - |  | $ | - |  | - |  | $ | - |  | $ | - |  | 18,500 |  | $ | 89.05
|  | Oil Basis Swaps
Period |  | Index |  | Volume (Bbls/d) |  | Weighted Average Differential to WTI ($/Bbl)
Q4 2015 |  | Western Canadian Select |  | 40,000 |  | $ | (15.58)
Q4 2015 |  | West Texas Sour |  | 8,000 |  | $ | (3.68)
Q4 2015 |  | Midland Sweet |  | 16,000 |  | $ | (2.86)
Q1-Q4 2016 |  | West Texas Sour |  | 5,000 |  | $ | (0.53)
Q1-Q4 2016 |  | Midland Sweet |  | 13,000 |  | $ | 0.25
Open Natural Gas Derivative Positions [Member] |
Derivative [Line Items] |
Schedule Of Open Derivative Positions |
|  | Price Swaps |  | Price Collars |  | Call Options Sold
Period |  | Volume (MMBtu/d) |  | Weighted Average Price ($/MMBtu) |  | Volume (MMBtu/d) |  | Weighted Average Floor Price ($/MMBtu) |  | Weighted Average Ceiling Price ($/MMBtu) |  | Volume (MMBtu/d) |  | Weighted Average Price ($/MMBtu)
Q4 2015 |  | 250,000 |  | $ | 4.32 |  | 480,000 |  | $ | 3.52 |  | $ | 3.83 |  | 550,000 |  | $ | 5.09
Q1-Q4 2016 |  | 24,863 |  | $ | 3.17 |  | - |  | $ | - |  | $ | - |  | 400,000 |  | $ | 4.73
|  | Natural Gas Basis Swaps
Period |  | Index |  | Volume (MMBtu/d) |  | Weighted Average Differential to Henry Hub ($/MMBtu)
Q4 2015 |  | Panhandle Eastern Pipe Line |  | 100,000 |  | $ | (0.28)
Q4 2015 |  | El Paso Natural Gas |  | 70,000 |  | $ | (0.11)
Q4 2015 |  | Houston Ship Channel |  | 200,000 |  | $ | 0.01
Q1-Q4 2016 |  | Panhandle Eastern Pipe Line |  | 175,000 |  | $ | (0.34)
Q1-Q4 2016 |  | El Paso Natural Gas |  | 15,000 |  | $ | (0.13)
Q1-Q4 2016 |  | Houston Ship Channel |  | 30,000 |  | $ | 0.11
Q1-Q4 2016 |  | Transco Zone 4 |  | 60,000 |  | $ | 0.01
Q1-Q4 2017 |  | Panhandle Eastern Pipe Line |  | 60,000 |  | $ | (0.34)
Q1-Q4 2017 |  | El Paso Natural Gas |  | 30,000 |  | $ | (0.14)
Q1-Q4 2017 |  | Houston Ship Channel |  | 35,000 |  | $ | 0.06
Q1-Q4 2017 |  | Transco Zone 4 |  | 85,000 |  | $ | 0.04
Gas Processing And Fractionation Open Positions [Member] | EnLink [Member] |
Derivative [Line Items] |
Schedule Of Open Derivative Positions |
Period |  | Product |  | Volume (Total) |  |  | Weighted Average Price Paid |  |  | Weighted Average Price Received
Q4 2015-Q4 2016 |  | Ethane |  | 817 | MBbls |  | $ | 0.28/gal |  |  | Index
Q4 2015-Q4 2016 |  | Propane |  | 908 | MBbls |  |  | Index |  | $ | 0.88/gal
Q4 2015-Q3 2016 |  | Normal Butane |  | 74 | MBbls |  |  | Index |  | $ | 0.63/gal
Q4 2015-Q3 2016 |  | Natural Gasoline |  | 63 | MBbls |  |  | Index |  | $ | 1.30/gal
Q4 2015-Q3 2016 |  | Natural Gas |  | 2,497 | MMBtu/d |  | $ | 3.13/MMBtu |  |  | Index
Interest Rate Derivatives [Member] |
Derivative [Line Items] |
Schedule Of Open Derivative Positions |
Notional |  | Rate Received |  | Rate Paid |  | Expiration
(Millions) |  |  |  |  |  |
$ | 100 |  | Three Month LIBOR |  | 0.92% |  | December 2016
$ | 100 |  | 1.76% |  | Three Month LIBOR |  | January 2019
$ | 750 |  | Three Month LIBOR |  | 2.98% |  | December 2048
Foreign Currency Derivatives [Member] |
Derivative [Line Items] |
Schedule Of Open Derivative Positions |
Forward Contract
Currency |  | Contract Type |  | CAD Notional |  | Weighted Average Fixed Rate Received |  | Expiration
|  |  |  | (Millions) |  | (CAD-USD) |  |
Canadian Dollar |  | Sell |  | $ | 1,884 |  | 0.752 |  | December 2015

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