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Inventory, Linefill and Long-term Inventory (Tables)

3 Months Ended

Mar. 31, 2023

Inventory Disclosure [Abstract]

Schedule of inventory

Inventory, linefill and long-term inventory consisted of the following (barrels in thousands and carrying value in millions):

			March 31, 2023																											December 31, 2022
			Volumes						Unit of Measure						Carrying Value						Price/ Unit (1)									Volumes						Unit of Measure						Carrying Value						Price/ Unit (1)
Inventory
Crude oil			5,373						barrels						$	342					$	63.65								6,713						barrels						$	452					$	67.33
NGL			3,427						barrels						111						$	32.39								7,285						barrels						270						$	37.06
Other			N/A												10						N/A									N/A												7						N/A
Inventory subtotal															463																											729
Linefill
Crude oil			15,459						barrels						907						$	58.67								15,480						barrels						906						$	58.53
NGL			1,865						barrels						55						$	29.49								1,876						barrels						55						$	29.32
Linefill subtotal															962																											961
Long-term inventory
Crude oil			3,136						barrels						227						$	72.39								3,102						barrels						246						$	79.30
NGL			1,063						barrels						30						$	28.22								1,066						barrels						38						$	35.65
Long-term inventory subtotal															257																											284
Total															$	1,682																										$	1,974

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

Schedule of linefill and long-term inventory

Inventory, linefill and long-term inventory consisted of the following (barrels in thousands and carrying value in millions):

			March 31, 2023																											December 31, 2022
			Volumes						Unit of Measure						Carrying Value						Price/ Unit (1)									Volumes						Unit of Measure						Carrying Value						Price/ Unit (1)
Inventory
Crude oil			5,373						barrels						$	342					$	63.65								6,713						barrels						$	452					$	67.33
NGL			3,427						barrels						111						$	32.39								7,285						barrels						270						$	37.06
Other			N/A												10						N/A									N/A												7						N/A
Inventory subtotal															463																											729
Linefill
Crude oil			15,459						barrels						907						$	58.67								15,480						barrels						906						$	58.53
NGL			1,865						barrels						55						$	29.49								1,876						barrels						55						$	29.32
Linefill subtotal															962																											961
Long-term inventory
Crude oil			3,136						barrels						227						$	72.39								3,102						barrels						246						$	79.30
NGL			1,063						barrels						30						$	28.22								1,066						barrels						38						$	35.65
Long-term inventory subtotal															257																											284
Total															$	1,682																										$	1,974

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

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Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
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