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

6 Months Ended

Jun. 30, 2014

Inventory, Linefill and Base Gas and Long-term Inventory

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

Inventory, linefill and base gas and long-term inventory consisted of the following as of the dates indicated (barrels and natural gas volumes in thousands and carrying value in millions):

	June 30, 2014						December 31, 2013
		Unit of	Carrying		Price/			Unit of	Carrying		Price/
	Volumes	Measure	Value		Unit (1)		Volumes	Measure	Value		Unit (1)
Inventory
Crude oil	6,233	barrels	$	579	$	92.89	6,951	barrels	$	540	$	77.69
NGL	10,591	barrels	444		$	41.92	8,061	barrels	352		$	43.67
Natural gas	10,824	Mcf	50		$	4.62	40,505	Mcf	150		$	3.70
Other	N/A		23		N/A		N/A		23		N/A
Inventory subtotal			1,096						1,065

Linefill and base gas
Crude oil	11,211	barrels	713		$	63.60	10,966	barrels	679		$	61.92
NGL	1,214	barrels	56		$	46.13	1,341	barrels	62		$	46.23
Natural gas	26,612	Mcf	126		$	4.73	16,615	Mcf	57		$	3.43
Linefill and base gas subtotal			895						798

Long-term inventory
Crude oil	2,712	barrels	220		$	81.12	2,498	barrels	202		$	80.86
NGL	1,681	barrels	67		$	39.86	1,161	barrels	49		$	42.20
Long-term inventory subtotal			287						251

Total			$	2,278					$	2,114

(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.