XML 58 R50.htm IDEA: XBRL DOCUMENT v2.4.0.8
Supplemental Information On Oil And Gas Operations (Tables)
12 Months Ended
Dec. 31, 2013
Supplemental Information On Oil And Gas Operations [Abstract]  
Costs Incurred

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2013

 

 

U.S.

 

Canada

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

(In millions)

Property acquisition costs:

 

 

 

 

 

 

 

 

 

Proved properties

 

$

19 

 

$

 

$

22 

Unproved properties

 

 

213 

 

 

 

 

216 

Exploration costs

 

 

443 

 

 

152 

 

 

595 

Development costs

 

 

3,838 

 

 

1,251 

 

 

5,089 

Costs incurred

 

$

4,513 

 

$

1,409 

 

$

5,922 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2012

 

 

U.S.

 

Canada

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

(In millions)

Property acquisition costs:

 

 

 

 

 

 

 

 

 

Proved properties

 

$

 

$

71 

 

$

73 

Unproved properties

 

 

1,135 

 

 

32 

 

 

1,167 

Exploration costs

 

 

351 

 

 

315 

 

 

666 

Development costs

 

 

4,408 

 

 

1,691 

 

 

6,099 

Costs incurred

 

$

5,896 

 

$

2,109 

 

$

8,005 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2011

 

 

U.S.

 

Canada

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

(In millions)

Property acquisition costs:

 

 

 

 

 

 

 

 

 

Proved properties

 

$

34 

 

$

14 

 

$

48 

Unproved properties

 

 

851 

 

 

72 

 

 

923 

Exploration costs

 

 

272 

 

 

282 

 

 

554 

Development costs

 

 

4,130 

 

 

1,288 

 

 

5,418 

Costs incurred

 

$

5,287 

 

$

1,656 

 

$

6,943 

 

Capitalized Costs

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

 

 

U.S.

 

Canada

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

(In millions)

Proved properties

 

$

51,366 

 

$

22,629 

 

$

73,995 

Unproved properties

 

 

1,277 

 

 

1,514 

 

 

2,791 

Total oil & gas properties

 

 

52,643 

 

 

24,143 

 

 

76,786 

Accumulated DD&A

 

 

(35,848)

 

 

(16,613)

 

 

(52,461)

Net capitalized costs

 

$

16,795 

 

$

7,530 

 

$

24,325 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

 

U.S.

 

Canada

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

(In millions)

Proved properties

 

$

46,570 

 

$

22,840 

 

$

69,410 

Unproved properties

 

 

1,703 

 

 

1,605 

 

 

3,308 

Total oil & gas properties

 

 

48,273 

 

 

24,445 

 

 

72,718 

Accumulated DD&A

 

 

(33,098)

 

 

(16,039)

 

 

(49,137)

Net capitalized costs

 

$

15,175 

 

$

8,406 

 

$

23,581 

 

Oil And Gas Properties Not Subject To Amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Costs Incurred In

 

 

2013

 

2012

 

2011

 

Prior to 2011

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In millions)

Acquisition costs

 

$

207 

 

$

725 

 

$

62 

 

$

848 

 

$

1,842 

Exploration costs

 

 

226 

 

 

129 

 

 

118 

 

 

30 

 

 

503 

Development costs

 

 

113 

 

 

132 

 

 

66 

 

 

 

 

320 

Capitalized interest

 

 

41 

 

 

33 

 

 

33 

 

 

19 

 

 

126 

Total oil and gas properties not subject to amortization

 

$

587 

 

$

1,019 

 

$

279 

 

$

906 

 

$

2,791 

 

Results Of Operations

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2013

 

 

U.S.

 

Canada

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

(In millions)

Oil, gas and NGL sales

 

$

5,964 

 

$

2,558 

 

$

8,522 

Lease operating expenses

 

 

(1,257)

 

 

(1,011)

 

 

(2,268)

General and administrative expenses

 

 

(125)

 

 

(77)

 

 

(202)

Production and property taxes

 

 

(380)

 

 

(59)

 

 

(439)

Depreciation, depletion and amortization

 

 

(1,640)

 

 

(825)

 

 

(2,465)

Asset impairments

 

 

(1,110)

 

 

(843)

 

 

(1,953)

Accretion of asset retirement obligations

 

 

(47)

 

 

(64)

 

 

(111)

Income tax benefit (expense)

 

 

(510)

 

 

88 

 

 

(422)

Results of operations

 

$

895 

 

$

(233)

 

$

662 

Depreciation, depletion and amortization per Boe

 

$

8.69 

 

$

12.87 

 

$

9.75 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2012

 

 

U.S.

 

Canada

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

(In millions)

Oil, gas and NGL sales

 

$

4,679 

 

$

2,474 

 

$

7,153 

Lease operating expenses

 

 

(1,059)

 

 

(1,015)

 

 

(2,074)

General and administrative expenses

 

 

(159)

 

 

(137)

 

 

(296)

Production and property taxes

 

 

(340)

 

 

(55)

 

 

(395)

Depreciation, depletion and amortization

 

 

(1,563)

 

 

(963)

 

 

(2,526)

Asset impairments

 

 

(1,793)

 

 

(163)

 

 

(1,956)

Accretion of asset retirement obligations

 

 

(40)

 

 

(69)

 

 

(109)

Income tax benefit (expense)

 

 

99 

 

 

(3)

 

 

96 

Results of operations

 

$

(176)

 

$

69 

 

$

(107)

Depreciation, depletion and amortization per Boe

 

$

8.55 

 

$

14.41 

 

$

10.12 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2011

 

 

U.S.

 

Canada

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

(In millions)

Oil, gas and NGL sales

 

$

5,418 

 

$

2,897 

 

$

8,315 

Lease operating expenses

 

 

(925)

 

 

(926)

 

 

(1,851)

General and administrative expenses

 

 

(132)

 

 

(119)

 

 

(251)

Production and property taxes

 

 

(357)

 

 

(45)

 

 

(402)

Depreciation, depletion and amortization

 

 

(1,201)

 

 

(786)

 

 

(1,987)

Accretion of asset retirement obligations

 

 

(34)

 

 

(57)

 

 

(91)

Income tax expense

 

 

(1,005)

 

 

(250)

 

 

(1,255)

Results of operations

 

$

1,764 

 

$

714 

 

$

2,478 

Depreciation, depletion and amortization per Boe

 

$

6.94 

 

$

11.74 

 

$

8.28 

 

Proved Reserves

 

 

 

 

 

 

 

 

 

 

 

 

Oil (MMBbls)

 

 

U.S.

 

Canada

 

Total

 

 

 

 

 

 

 

 

 

 

Proved developed and undeveloped reserves:

 

 

December 31, 2010

 

 

148 

 

 

93 

 

 

241 

Revisions due to prices

 

 

 

 

 

 

Revisions other than price

 

 

(1)

 

 

(5)

 

 

(6)

Extensions and discoveries

 

 

36 

 

 

 

 

42 

Production

 

 

(17)

 

 

(15)

 

 

(32)

December 31, 2011

 

 

168 

 

 

80 

 

 

248 

Revisions due to prices

 

 

(1)

 

 

(5)

 

 

(6)

Revisions other than price

 

 

(6)

 

 

(2)

 

 

(8)

Extensions and discoveries

 

 

65 

 

 

 

 

72 

Production

 

 

(21)

 

 

(15)

 

 

(36)

December 31, 2012

 

 

205 

 

 

65 

 

 

270 

Revisions due to prices

 

 

 

 

(1)

 

 

 -

Revisions other than price

 

 

(18)

 

 

 -

 

 

(18)

Extensions and discoveries

 

 

69 

 

 

 

 

76 

Purchase of reserves

 

 

 

 

 -

 

 

Production

 

 

(28)

 

 

(15)

 

 

(43)

Sale of reserves

 

 

(1)

 

 

 -

 

 

(1)

December 31, 2013

 

 

229 

 

 

56 

 

 

285 

 

 

 

 

 

 

 

 

 

 

Proved developed reserves as of:

 

 

 

 

 

 

 

 

 

December 31, 2010

 

 

131 

 

 

82 

 

 

213 

December 31, 2011

 

 

146 

 

 

73 

 

 

219 

December 31, 2012

 

 

166 

 

 

62 

 

 

228 

December 31, 2013

 

 

194 

 

 

56 

 

 

250 

Proved developed-producing reserves as of:

 

 

 

 

 

 

 

 

 

December 31, 2010

 

 

123 

 

 

72 

 

 

195 

December 31, 2011

 

 

139 

 

 

65 

 

 

204 

December 31, 2012

 

 

155 

 

 

56 

 

 

211 

December 31, 2013

 

 

178 

 

 

51 

 

 

229 

Proved undeveloped reserves as of:

 

 

 

 

 

 

 

 

 

December 31, 2010

 

 

17 

 

 

11 

 

 

28 

December 31, 2011

 

 

22 

 

 

 

 

29 

December 31, 2012

 

 

39 

 

 

 

 

42 

December 31, 2013

 

 

35 

 

 

 -

 

 

35 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bitumen (MMBbls)

 

 

U.S.

 

Canada

 

Total

 

 

 

 

 

 

 

 

 

 

Proved developed and undeveloped reserves:

 

 

December 31, 2010

 

 

 -

 

 

440 

 

 

440 

Revisions due to prices

 

 

 -

 

 

(16)

 

 

(16)

Revisions other than price

 

 

 -

 

 

16 

 

 

16 

Extensions and discoveries

 

 

 -

 

 

30 

 

 

30 

Production

 

 

 -

 

 

(13)

 

 

(13)

December 31, 2011

 

 

 -

 

 

457 

 

 

457 

Revisions due to prices

 

 

 -

 

 

14 

 

 

14 

Revisions other than price

 

 

 -

 

 

 

 

Extensions and discoveries

 

 

 -

 

 

67 

 

 

67 

Production

 

 

 -

 

 

(17)

 

 

(17)

December 31, 2012

 

 

 -

 

 

528 

 

 

528 

Revisions due to prices

 

 

 -

 

 

(11)

 

 

(11)

Revisions other than price

 

 

 -

 

 

16 

 

 

16 

Extensions and discoveries

 

 

 -

 

 

38 

 

 

38 

Production

 

 

 -

 

 

(19)

 

 

(19)

December 31, 2013

 

 

 -

 

 

552 

 

 

552 

 

 

 

 

 

 

 

 

 

 

Proved developed reserves as of:

 

 

 

 

 

 

 

 

 

December 31, 2010

 

 

 -

 

 

44 

 

 

44 

December 31, 2011

 

 

 -

 

 

90 

 

 

90 

December 31, 2012

 

 

 -

 

 

99 

 

 

99 

December 31, 2013

 

 

 -

 

 

111 

 

 

111 

Proved developed-producing reserves as of:

 

 

 

 

 

 

 

 

 

December 31, 2010

 

 

 -

 

 

44 

 

 

44 

December 31, 2011

 

 

 -

 

 

90 

 

 

90 

December 31, 2012

 

 

 -

 

 

99 

 

 

99 

December 31, 2013

 

 

 -

 

 

111 

 

 

111 

Proved undeveloped reserves as of:

 

 

 

 

 

 

 

 

 

December 31, 2010

 

 

 -

 

 

396 

 

 

396 

December 31, 2011

 

 

 -

 

 

367 

 

 

367 

December 31, 2012

 

 

 -

 

 

429 

 

 

429 

December 31, 2013

 

 

 -

 

 

441 

 

 

441 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gas (Bcf)

 

 

U.S.

 

Canada

 

Total

 

 

 

 

 

 

 

 

 

 

Proved developed and undeveloped reserves:

 

 

December 31, 2010

 

 

9,065 

 

 

1,218 

 

 

10,283 

Revisions due to prices

 

 

(1)

 

 

(60)

 

 

(61)

Revisions other than price

 

 

(243)

 

 

(38)

 

 

(281)

Extensions and discoveries

 

 

1,410 

 

 

58 

 

 

1,468 

Purchase of reserves

 

 

16 

 

 

20 

 

 

36 

Production

 

 

(740)

 

 

(213)

 

 

(953)

Sale of reserves

 

 

 -

 

 

(6)

 

 

(6)

December 31, 2011

 

 

9,507 

 

 

979 

 

 

10,486 

Revisions due to prices

 

 

(831)

 

 

(99)

 

 

(930)

Revisions other than price

 

 

(287)

 

 

(33)

 

 

(320)

Extensions and discoveries

 

 

1,124 

 

 

34 

 

 

1,158 

Purchase of reserves

 

 

 

 

 -

 

 

Production

 

 

(752)

 

 

(186)

 

 

(938)

Sale of reserves

 

 

(1)

 

 

(11)

 

 

(12)

December 31, 2012

 

 

8,762 

 

 

684 

 

 

9,446 

Revisions due to prices

 

 

405 

 

 

161 

 

 

566 

Revisions other than price

 

 

(299)

 

 

67 

 

 

(232)

Extensions and discoveries

 

 

471 

 

 

19 

 

 

490 

Purchase of reserves

 

 

 

 

 -

 

 

Production

 

 

(709)

 

 

(165)

 

 

(874)

Sale of reserves

 

 

(81)

 

 

(8)

 

 

(89)

December 31, 2013

 

 

8,550 

 

 

758 

 

 

9,308 

 

 

 

 

 

 

 

 

 

 

Proved developed reserves as of:

 

 

 

 

 

 

 

 

 

December 31, 2010

 

 

7,280 

 

 

1,144 

 

 

8,424 

December 31, 2011

 

 

7,957 

 

 

951 

 

 

8,908 

December 31, 2012

 

 

7,391 

 

 

679 

 

 

8,070 

December 31, 2013

 

 

7,707 

 

 

752 

 

 

8,459 

Proved developed-producing reserves as of:

 

 

 

 

 

 

 

 

 

December 31, 2010

 

 

6,702 

 

 

1,031 

 

 

7,733 

December 31, 2011

 

 

7,409 

 

 

862 

 

 

8,271 

December 31, 2012

 

 

7,091 

 

 

624 

 

 

7,715 

December 31, 2013

 

 

7,425 

 

 

680 

 

 

8,105 

Proved undeveloped reserves as of:

 

 

 

 

 

 

 

 

 

December 31, 2010

 

 

1,785 

 

 

74 

 

 

1,859 

December 31, 2011

 

 

1,550 

 

 

28 

 

 

1,578 

December 31, 2012

 

 

1,371 

 

 

 

 

1,376 

December 31, 2013

 

 

843 

 

 

 

 

849 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Natural Gas Liquids (MMBbls)

 

 

U.S.

 

Canada

 

Total

 

 

 

 

 

 

 

 

 

 

Proved developed and undeveloped reserves:

 

 

December 31, 2010

 

 

449 

 

 

30 

 

 

479 

Revisions due to prices

 

 

 

 

(1)

 

 

Revisions other than price

 

 

 

 

 -

 

 

Extensions and discoveries

 

 

102 

 

 

 

 

104 

Purchase of reserves

 

 

 

 

 -

 

 

Production

 

 

(33)

 

 

(4)

 

 

(37)

December 31, 2011

 

 

525 

 

 

27 

 

 

552 

Revisions due to prices

 

 

(19)

 

 

(5)

 

 

(24)

Revisions other than price

 

 

(13)

 

 

 -

 

 

(13)

Extensions and discoveries

 

 

114 

 

 

 

 

116 

Production

 

 

(36)

 

 

(4)

 

 

(40)

December 31, 2012

 

 

571 

 

 

20 

 

 

591 

Revisions due to prices

 

 

 

 

 

 

11 

Revisions other than price

 

 

(50)

 

 

 

 

(47)

Extensions and discoveries

 

 

64 

 

 

 

 

65 

Production

 

 

(41)

 

 

(4)

 

 

(45)

December 31, 2013

 

 

552 

 

 

23 

 

 

575 

 

 

 

 

 

 

 

 

 

 

Proved developed reserves as of:

 

 

 

 

 

 

 

 

 

December 31, 2010

 

 

353 

 

 

28 

 

 

381 

December 31, 2011

 

 

402 

 

 

26 

 

 

428 

December 31, 2012

 

 

431 

 

 

20 

 

 

451 

December 31, 2013

 

 

468 

 

 

23 

 

 

491 

Proved developed-producing reserves as of:

 

 

 

 

 

 

 

 

 

December 31, 2010

 

 

318 

 

 

26 

 

 

344 

December 31, 2011

 

 

372 

 

 

24 

 

 

396 

December 31, 2012

 

 

406 

 

 

19 

 

 

425 

December 31, 2013

 

 

442 

 

 

21 

 

 

463 

Proved undeveloped reserves as of:

 

 

 

 

 

 

 

 

 

December 31, 2010

 

 

96 

 

 

 

 

98 

December 31, 2011

 

 

123 

 

 

 

 

124 

December 31, 2012

 

 

140 

 

 

 -

 

 

140 

December 31, 2013

 

 

84 

 

 

 -

 

 

84 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total (MMBoe) (1)

 

 

U.S.

 

Canada

 

Total

 

 

 

 

 

 

 

 

 

 

Proved developed and undeveloped reserves:

 

 

December 31, 2010

 

 

2,107 

 

 

766 

 

 

2,873 

Revisions due to prices

 

 

 

 

(27)

 

 

(21)

Revisions other than price

 

 

(41)

 

 

 

 

(35)

Extensions and discoveries

 

 

374 

 

 

47 

 

 

421 

Purchase of reserves

 

 

 

 

 

 

Production

 

 

(173)

 

 

(67)

 

 

(240)

Sale of reserves

 

 

 -

 

 

(1)

 

 

(1)

December 31, 2011

 

 

2,278 

 

 

727 

 

 

3,005 

Revisions due to prices

 

 

(159)

 

 

(12)

 

 

(171)

Revisions other than price

 

 

(67)

 

 

(1)

 

 

(68)

Extensions and discoveries

 

 

367 

 

 

82 

 

 

449 

Production

 

 

(183)

 

 

(67)

 

 

(250)

Sale of reserves

 

 

 -

 

 

(2)

 

 

(2)

December 31, 2012

 

 

2,236 

 

 

727 

 

 

2,963 

Revisions due to prices

 

 

76 

 

 

18 

 

 

94 

Revisions other than price

 

 

(117)

 

 

29 

 

 

(88)

Extensions and discoveries

 

 

212 

 

 

49 

 

 

261 

Purchase of reserves

 

 

 

 

 -

 

 

Production

 

 

(189)

 

 

(64)

 

 

(253)

Sale of reserves

 

 

(14)

 

 

(1)

 

 

(15)

December 31, 2013

 

 

2,205 

 

 

758 

 

 

2,963 

 

 

 

 

 

 

 

 

 

 

Proved developed reserves as of:

 

 

 

 

 

 

 

 

 

December 31, 2010

 

 

1,696 

 

 

346 

 

 

2,042 

December 31, 2011

 

 

1,875 

 

 

348 

 

 

2,223 

December 31, 2012

 

 

1,829 

 

 

294 

 

 

2,123 

December 31, 2013

 

 

1,947 

 

 

315 

 

 

2,262 

Proved developed-producing reserves as of:

 

 

 

 

 

 

 

 

 

December 31, 2010

 

 

1,557 

 

 

314 

 

 

1,871 

December 31, 2011

 

 

1,746 

 

 

323 

 

 

2,069 

December 31, 2012

 

 

1,743 

 

 

278 

 

 

2,021 

December 31, 2013

 

 

1,857 

 

 

297 

 

 

2,154 

Proved undeveloped reserves as of:

 

 

 

 

 

 

 

 

 

December 31, 2010

 

 

411 

 

 

420 

 

 

831 

December 31, 2011

 

 

403 

 

 

379 

 

 

782 

December 31, 2012

 

 

407 

 

 

433 

 

 

840 

December 31, 2013

 

 

258 

 

 

443 

 

 

701 

_______________________

(1)Gas reserves are converted to Boe at the rate of six Mcf per Bbl of oil, based upon the approximate relative energy content of gas and oil. This rate is not necessarily indicative of the relationship of natural gas and oil prices. Bitumen and natural gas liquids reserves are converted to Boe on a one-to-one basis with oil.

Proved Undeveloped Reserves

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Canada

 

Total

 

 

 

 

 

 

 

 

 

 

Proved undeveloped reserves as of December 31, 2012

 

 

407 

 

 

433 

 

 

840 

Extensions and discoveries

 

 

57 

 

 

38 

 

 

95 

Revisions due to prices

 

 

 

 

(10)

 

 

(9)

Revisions other than price

 

 

(91)

 

 

13 

 

 

(78)

Conversion to proved developed reserves

 

 

(116)

 

 

(31)

 

 

(147)

Proved undeveloped reserves as of December 31, 2013

 

 

258 

 

 

443 

 

 

701 

 

Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2013

 

 

U.S.

 

Canada

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

(In millions)

Future cash inflows

 

$

61,983 

 

$

33,305 

 

$

95,288 

Future costs:

 

 

 

 

 

 

 

 

 

Development

 

 

(5,448)

 

 

(5,308)

 

 

(10,756)

Production

 

 

(26,663)

 

 

(15,709)

 

 

(42,372)

Future income tax expense

 

 

(9,046)

 

 

(2,327)

 

 

(11,373)

Future net cash flow

 

 

20,826 

 

 

9,961 

 

 

30,787 

10% discount to reflect timing of cash flows

 

 

(10,346)

 

 

(4,700)

 

 

(15,046)

Standardized measure of discounted future net cash flows

 

$

10,480 

 

$

5,261 

 

$

15,741 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2012

 

 

U.S.

 

Canada

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

(In millions)

Future cash inflows

 

$

55,297 

 

$

33,570 

 

$

88,867 

Future costs:

 

 

 

 

 

 

 

 

 

Development

 

 

(6,556)

 

 

(6,211)

 

 

(12,767)

Production

 

 

(24,265)

 

 

(16,611)

 

 

(40,876)

Future income tax expense

 

 

(6,542)

 

 

(1,992)

 

 

(8,534)

Future net cash flow

 

 

17,934 

 

 

8,756 

 

 

26,690 

10% discount to reflect timing of cash flows

 

 

(9,036)

 

 

(4,433)

 

 

(13,469)

Standardized measure of discounted future net cash flows

 

$

8,898 

 

$

4,323 

 

$

13,221 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2011

 

 

U.S.

 

Canada

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

(In millions)

Future cash inflows

 

$

69,305 

 

$

36,786 

 

$

106,091 

Future costs:

 

 

 

 

 

 

 

 

 

Development

 

 

(6,817)

 

 

(4,678)

 

 

(11,495)

Production

 

 

(26,217)

 

 

(15,063)

 

 

(41,280)

Future income tax expense

 

 

(11,432)

 

 

(3,763)

 

 

(15,195)

Future net cash flow

 

 

24,839 

 

 

13,282 

 

 

38,121 

10% discount to reflect timing of cash flows

 

 

(13,492)

 

 

(6,785)

 

 

(20,277)

Standardized measure of discounted future net cash flows

 

$

11,347 

 

$

6,497 

 

$

17,844 

 

Schedule Of Principal Changes In The Standardized Measure Of Discounted Future Net Cash Flows Attributable To Proved Reserves

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

2013

 

2012

 

2011

 

 

 

 

 

 

 

 

 

 

 

 

(In millions)

Beginning balance

 

$

13,221 

 

$

17,844 

 

$

16,352 

Net changes in prices and production costs

 

 

3,018 

 

 

(9,889)

 

 

1,875 

Oil, bitumen, gas and NGL sales, net of production costs

 

 

(5,613)

 

 

(4,388)

 

 

(5,811)

Changes in estimated future development costs

 

 

399 

 

 

(1,094)

 

 

(440)

Extensions and discoveries, net of future development costs

 

 

4,047 

 

 

4,669 

 

 

3,714 

Purchase of reserves

 

 

14 

 

 

18 

 

 

57 

Sales of reserves in place

 

 

(44)

 

 

(25)

 

 

(2)

Revisions of quantity estimates

 

 

(1,040)

 

 

162 

 

 

(228)

Previously estimated development costs incurred during the period

 

 

1,986 

 

 

1,321 

 

 

1,302 

Accretion of discount

 

 

1,940 

 

 

1,420 

 

 

2,248 

Other, primarily changes in timing and foreign exchange rates

 

 

(583)

 

 

113 

 

 

(294)

Net change in income taxes

 

 

(1,604)

 

 

3,070 

 

 

(929)

Ending balance

 

$

15,741 

 

$

13,221 

 

$

17,844