|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions, unless otherwise specified
|
3 Months Ended |
|
Mar. 31, 2015
|
Mar. 31, 2014
|
| Cash flows from operating activities |
|
|
| Net income (loss) |
$ 19 |
$ (90) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities |
|
|
| Depreciation, depletion and amortization |
224 |
198 |
| Gain on sale of assets |
0 |
(13) |
| Deferred income tax expense (benefit) |
10 |
(51) |
| Loss on extinguishment of debt |
0 |
17 |
| Share-based compensation expense |
5 |
4 |
| Non-cash portion of exploration expense |
4 |
7 |
| Amortization of debt issuance costs |
5 |
5 |
| Other |
(1) |
3 |
| Asset and liability changes |
|
|
| Accounts receivable |
38 |
(16) |
| Accounts payable |
(90) |
6 |
| Derivative instruments |
14 |
111 |
| Accrued interest |
53 |
53 |
| Other asset changes |
23 |
4 |
| Other liability changes |
(13) |
(15) |
| Net cash provided by operating activities |
291 |
223 |
| Cash flows from investing activities |
|
|
| Capital expenditures |
(432) |
(459) |
| Proceeds from the sale of assets |
0 |
17 |
| Net cash used in investing activities |
(432) |
(442) |
| Cash flows from financing activities |
|
|
| Proceeds from issuance of long-term debt |
364 |
550 |
| Repayments of long-term debt |
(236) |
(964) |
| Proceeds from issuance of stock |
0 |
669 |
| Net cash provided by financing activities |
128 |
255 |
| Change in cash and cash equivalents |
(13) |
36 |
| Cash and cash equivalents |
|
|
| Beginning of period |
22 |
51 |
| End of period |
$ 9 |
$ 87 |