Inventory, Linefill, Base Gas and Long-term Inventory (Tables)

12 Months Ended

Dec. 31, 2012

Inventory, Linefill, Base Gas and Long-term Inventory

Components of inventory, linefill, base gas and long-term inventory

	December 31, 2012						December 31, 2011
	Volumes	Unit of Measure	Carrying Value		Price/ Unit (1)		Volumes	Unit of Measure	Carrying Value		Price/ Unit (1)
Inventory
Crude oil	9,492	barrels	$	737	$	77.64	5,361	barrels	$	483	$	90.10
NGL	9,472	barrels	388		$	40.96	6,885	barrels	438		$	63.62
Natural gas (2)	20,374	Mcf	60		$	2.94	16,170	Mcf	51		$	3.15
Other	N/A		24		N/A		N/A		6		N/A
Inventory subtotal			1,209						978

Linefill and base gas
Crude oil	9,919	barrels	583		$	58.78	9,366	barrels	514		$	54.88
NGL	1,400	barrels	70		$	50.00	31	barrels	2		$	64.52
Natural gas (2)	15,755	Mcf	54		$	3.43	14,105	Mcf	48		$	3.40
Linefill and base gas subtotal			707						564

Long-term inventory
Crude oil	1,962	barrels	149		$	75.94	1,714	barrels	127		$	74.10
NGL	3,238	barrels	125		$	38.60	150	barrels	8		$	53.33
Long-term inventory subtotal			274						135

Total			$	2,190					$	1,677

(1) Price per unit of measure represents a weighted average associated with various grades, qualities and locations. Accordingly, these prices may not coincide with any published benchmarks for such products.

(2) The volumetric ratio of Mcf of natural gas to crude Btu equivalent is 6:1; thus, natural gas volumes can be approximately converted to barrels by dividing by 6.