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Derivative Financial Instruments (Tables)

9 Months Ended

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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