Investment in Cenovus Energy	6 Months Ended
Jun. 30, 2020
Investment In Cenovus Energy [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	Note 6—Investment in Cenovus Energy On May 17, 2017, we completed the sale of our 50 percent nonoperated interest in the FCCL Partnership, as well as the majority of our western Canada gas assets, to Cenovus Energy. Consideration for the transaction included 208 million Cenovus Energy common shares, which, at closing, approximated 16.9 percent of issued and outstanding Cenovus Energy common stock. The fair value and cost basis of our investment in 208 million Cenovus Energy common shares was $ 1.96 billion based on a price of $ 9.41 per share on the NYSE on the closing date. At June 30, 2020, the investment included on our consolidated balance sheet was $ 971 million and is carried at fair value. The fair value of the 208 million Cenovus Energy common shares reflects the closing price of $ 4.67 per share on the NYSE on the last trading day of the quarter, a decrease of $ 1.14 billion from its fair value of $ 2.11 billion at year-end 2019. For the three- and six-month periods ended June 30, 2020, we recorded an unrealized gain of $ 551 million and an unrealized loss of $ 1.14 billion, respectively. For the three- and six-month periods ended June 30, 2019, we recorded an unrealized gain of $ 30 million and $ 373 million, respectively. The unrealized gains and losses are recorded within the “Other income (loss)” line of our consolidated income statement and are related to the shares held at the reporting date. See Note 14—Fair Value Measurement, for additional information. Subject to market conditions, we intend to decrease our investment over time through market transactions, private agreements or otherwise.

Note 6—Investment in Cenovus Energy

On May 17, 2017, we completed the sale of our

percent nonoperated interest in the FCCL Partnership,

well as the majority of our western Canada gas assets,

to Cenovus Energy.

Consideration for the transaction

included

208

million Cenovus Energy common shares, which,

at closing, approximated

16.9

percent of issued

and outstanding Cenovus Energy common stock.

The fair value and cost basis of our investment

208

million Cenovus Energy common shares was $

1.96

billion based on a price of $

9.41

per share on the NYSE on

the closing date.

At June 30, 2020, the investment included on

our consolidated balance sheet was $

971

million and is carried at

fair value.

The fair value of the

208

million Cenovus Energy common shares reflects

the closing price of

4.67

per share on the NYSE on the last trading

day of the quarter, a decrease of $

1.14

billion from its fair

value of $

2.11

billion at year-end 2019.

For the three- and six-month periods ended June

30, 2020, we

recorded an unrealized gain of $

551

million and an unrealized loss of $

1.14

billion, respectively.

For the

three- and six-month periods ended June 30, 2019,

we recorded an unrealized gain of $

million and $

373

million, respectively.

The unrealized gains and losses are recorded within

the “Other income (loss)” line of

our consolidated income statement and are related to

the shares held at the reporting date.

See Note 14—Fair

Value

Measurement, for additional information.

Subject to market conditions, we intend to decrease

our

investment over time through market transactions,

private agreements or otherwise.