Asset Acquisitions and Dispositions	3 Months Ended
Mar. 31, 2020
Asset Acquisitions and Dispositions [Abstract]
Asset Acquisitions and Dispositions [Text Block]	Note 4—Asset Acquisitions and Dispositions Assets Held for Sale In October 2019, we entered into an agreement to sell the subsidiaries that hold our Australia-West assets and operations to Santos for $ 1.39 billion, plus customary adjustments, with an effective date of January 1, 2019, plus a payment of $ 75 million upon final investment decision of the Barossa development project. These subsidiaries hold our 37.5 percent interest in the Barossa Project and Caldita Field, our 56.9 percent interest in the Darwin LNG Facility and Bayu-Undan Field, our 40 percent interest in the Greater Poseidon Fields, and our 50 percent interest in the Athena Field. The transaction is expected to close in the second quarter of 2020. At March 31, 2020, the net carrying value of the subsidiaries to be sold was approximately $ 0.7 billion, consisting primarily of $ 1.3 billion of PP&E and $ 0.4 billion of cash and working capital, offset by $ 0.7 billion of ARO and $ 0.3 billion of deferred tax liabilities. The assets met held for sale criteria in the fourth quarter of 2019, and as of March 31, 2020, $ 1.3 billion of PP&E is classified as “Prepaid expenses and other current assets” and $ 0.7 billion of noncurrent ARO is classified as “Other accruals” on our consolidated balance sheet. The before-tax earnings associated with our Australia-West subsidiaries to be sold were $ 192 million and $ 115 million for the three-month period ended March 31, 2020 and 2019, respectively. This transaction is expected to be completed in the second quarter of 2020, subject to regulatory approvals and other conditions precedent. Results of operations for the subsidiaries to be sold are reported in our Asia Pacific and Middle East segment. Assets Sold In February 2020, we sold our Waddell Ranch interests in the Permian Basin for $ 184 million after customary adjustments. No gain or loss was recognized on the sale. In March 2020, we completed the sale of our Niobrara interests for approximately $ 359 million after customary adjustments and recognized a before-tax loss on disposition of $ 38 million. At the time of disposition, our interest in Niobrara had a net carrying value of $ 397 million, consisting primarily of $ 433 million of PP&E and $ 34 million of ARO. The before-tax earnings associated with our interests in Niobrara, including the loss on disposition, were a loss of $ 27 million and income of less than $ 1 million for the three- month periods ended March 31, 2020 and 2019, respectively. Production from these non-core Lower 48 properties averaged 15 MBOED in 2019

Note 4—Asset Acquisitions and Dispositions

Assets Held for Sale

In October 2019, we entered into an agreement to sell

the subsidiaries that hold our Australia-West assets and

operations to Santos for $

1.39

billion, plus customary adjustments, with an effective

date of January 1, 2019,

plus a payment of $

million upon final investment decision

of the Barossa development project.

These

subsidiaries hold our

37.5

percent interest in the Barossa Project and

Caldita Field, our

56.9

percent interest in

the Darwin LNG Facility and Bayu-Undan Field,

our

percent interest in the Greater Poseidon Fields, and

our

percent interest in the Athena Field.

The transaction is expected to close in the second

quarter of 2020.

At March 31, 2020, the net carrying value of the

subsidiaries to be sold was approximately

0.7

billion,

consisting primarily of $

1.3

billion of PP&E and $

0.4

billion of cash and working capital, offset by $

0.7

billion

of ARO and $

0.3

billion of deferred tax liabilities.

The assets met held for sale criteria in the fourth

quarter of

2019, and as of March 31, 2020, $

1.3

billion of PP&E is classified as “Prepaid expenses

and other current

assets” and $

0.7

billion of noncurrent ARO is classified as

“Other accruals” on our consolidated balance sheet.

The before-tax earnings associated with our

Australia-West subsidiaries to be sold were $

192

million and $

115

million for the three-month period ended March 31,

2020 and 2019, respectively.

This transaction is expected

to be completed in the second quarter of 2020, subject

to regulatory approvals and other conditions precedent.

Results of operations for the subsidiaries

to be sold are reported in our Asia Pacific and Middle

East segment.

Assets Sold

In February 2020, we sold our Waddell Ranch interests in the Permian Basin for $

184

million after customary

adjustments.

No gain or loss was recognized on the sale.

In March 2020, we completed the sale of our

Niobrara interests for approximately $

359

million after

customary adjustments and recognized a before-tax

loss on disposition of $

million.

At the time of

disposition, our interest in Niobrara had a net carrying

value of $

397

million, consisting primarily of $

433

million of PP&E and $

million of ARO.

The before-tax earnings associated with our

interests in Niobrara,

including the loss on disposition, were a loss of $

million and income of less than $

million for the three-

month periods ended March 31, 2020 and 2019,

respectively.

Production from these non-core Lower 48 properties

averaged

MBOED in 2019