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LAWSUITS, CLAIMS, COMMITMENTS AND CONTINGENCIES | 12 Months Ended
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Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract] |
LAWSUITS, CLAIMS, COMMITMENTS AND CONTINGENCIES | LAWSUITS, CLAIMS, COMMITMENTS AND CONTINGENCIES We, or certain of our subsidiaries, are involved, in the normal course of business, in lawsuits, environmental and other claims and other contingencies that seek, among other things, compensation for alleged personal injury, breach of contract, property damage or other losses, punitive damages, civil penalties, or injunctive or declaratory relief. We accrue reserves for currently outstanding lawsuits, claims and proceedings when it is probable that a liability has been incurred and the liability can be reasonably estimated. Reserve balances at December 31, 2020 and 2019 were not material to our consolidated balance sheets as of such dates. In October 2020, Signal Hill Services, Inc. defaulted on its decommissioning obligations associated with two offshore platforms. The Bureau of Safety and Environmental Enforcement determined that former lessees, including our former parent, Occidental Petroleum Corporation (Oxy) with an approximately 35% share, are responsible for accrued decommissioning obligations associated with these offshore platforms. Oxy notified us of the claim under the indemnification provisions of the Separation and Distribution Agreement between us and Oxy. We are currently evaluating this claim. We also evaluate the amount of reasonably possible losses that we could incur as a result of these matters. We believe that reasonably possible losses that we could incur in excess of reserves cannot be accurately determined. We have certain commitments under contracts, including purchase commitments for goods and services used in the normal course of business such as pipeline capacity, land easements and field equipment. At December 31, 2020, total purchase obligations on a discounted basis were as follows:
| December 31, 2020
| (in millions)
2021 | $ | 42 |
2022 | 50 |
2023 | 35 |
2024 | 6 |
2025 | 6 |
Thereafter | 47 |
Total | 186 |
Less: Interest | (28) |
Present value of purchase obligations | $ | 158 |
We remain subject to audit by the Internal Revenue Service for calendar years 2017 through 2019 as well as 2016 through 2019 by the state of California.

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