EX-99.2 3 a5257388ex992.txt EXHIBIT 99.2 Exhibit 99.2 FINANCIAL AND OPERATIONAL TABLES Preliminary FINANCIAL HIGHLIGHTS
Millions of Dollars Three Months Ended Nine Months Ended September 30 September 30 2006 2005 2006 2005 ---- ---- ---- ---- Revenues and other income Sales and other operating revenues* $ 48,393 48,745 142,448 128,184 Equity in earnings of affiliates 1,196 872 3,320 2,626 Other income 314 42 538 381 ----------- ------ ------- ------- 49,903 49,659 146,306 131,191 ----------- ------ ------- ------- Costs and expenses Purchased crude oil, natural gas and products 30,869 34,508 93,772 88,603 Production and operating expenses 2,640 1,982 7,549 6,081 Selling, general and administrative expenses 650 612 1,826 1,690 Exploration expenses 197 140 443 432 Depreciation, depletion and amortization 2,137 1,049 5,282 3,075 Impairments 267 -- 317 31 Taxes other than income taxes* 4,853 4,606 13,661 13,758 Accretion on discounted liabilities 74 46 207 135 Interest and debt expense 308 122 783 387 Foreign currency transaction losses (gains) (50) 34 (10) 52 Minority interests 21 6 60 21 ----------- ------ ------- ------- 41,966 43,105 123,890 114,265 ----------- ------ ------- ------- Income from continuing operations before income taxes 7,937 6,554 22,416 16,926 Provision for income taxes 4,061 2,750 10,063 7,068 ----------- ------ ------- ------- Income from continuing operations 3,876 3,804 12,353 9,858 Income (loss) from discontinued operations -- (4) -- (8) ----------- ------ ------- ------- Net income $ 3,876 3,800 12,353 9,850 =========== ====== ======= ======== Income per share of common stock (dollars) Basic Continuing operations $ 2.35 2.73 7.90 7.06 Discontinued operations -- -- -- (0.01) Net income $ 2.35 2.73 7.90 7.05 Diluted Continuing operations $ 2.31 2.68 7.78 6.94 Discontinued operations -- -- -- -- Net income $ 2.31 2.68 7.78 6.94 Average common shares outstanding (in thousands) Basic 1,652,623 1,393,943 1,564,423 1,396,180 Diluted 1,675,839 1,417,796 1,587,892 1,419,898 *Includes excise taxes on petroleum products sales: $ 4,098 4,292 12,010 12,785
1 Preliminary SELECTED FINANCIAL DATA
Millions of Dollars Three Months Ended Nine Months Ended September 30 September 30 2006 2005 2006 2005 ---- ---- ---- ---- INCOME (LOSS) FROM CONTINUING OPERATIONS E&P United States $ 995 1,107 3,476 2,965 International 909 1,181 4,285 3,039 ------- ------- ----- ----- Total E&P 1,904 2,288 7,761 6,004 ------- ------- ----- ----- Midstream 169 88 387 541 ------- ------- ----- ----- R&M United States 1,444 1,096 3,174 2,602 International 20 294 388 598 ------- ------- ----- ----- Total R&M 1,464 1,390 3,562 3,200 ------- ------- ----- ----- LUKOIL Investment 487 267 1,123 525 Chemicals 142 13 394 209 Emerging Businesses 11 -- 7 (16) Corporate and other (301) (242) (881) (605) ------- ------- ----- ----- Consolidated $ 3,876 3,804 12,353 9,858 ======= ======= ====== ===== INCOME (LOSS) FROM DISCONTINUED OPERATIONS Corporate and other $ -- (4) -- (8) SUMMARY OF NET INCOME (LOSS) E&P United States $ 995 1,107 3,476 2,965 International 909 1,181 4,285 3,039 ------- ------- ----- ----- Total E&P 1,904 2,288 7,761 6,004 ------- ------- ----- ----- Midstream 169 88 387 541 ------- ------- ----- ----- R&M United States 1,444 1,096 3,174 2,602 International 20 294 388 598 ------- ------- ----- ----- Total R&M 1,464 1,390 3,562 3,200 ------- ------- ----- ----- LUKOIL Investment 487 267 1,123 525 Chemicals 142 13 394 209 Emerging Businesses 11 -- 7 (16) Corporate and other (301) (246) (881) (613) ------- ------- ----- ----- Net Income $ 3,876 3,800 12,353 9,850 ======= ======= ====== =====
2 Preliminary SELECTED FINANCIAL DATA
Three Months Ended Nine Months Ended September 30 September 30 2006 2005 2006 2005 ---- ---- ---- ---- INCOME FROM CONTINUING OPERATIONS Effective tax rate % 51.2 % 42.0 44.9 41.8 Millions of Dollars FOREIGN CURRENCY GAINS (LOSSES) AFTER-TAX E&P $ (20) 2 (47) 6 Midstream - - - 7 R&M (6) (13) 25 (49) LUKOIL Investment 1 (1) 2 (1) Chemicals - - - - Emerging Businesses - - - - Corporate and other 48 (23) 4 (27) -------- ----- ------ ----- $ 23 (35) (16) (64) ======== ===== ====== ===== CASH FLOWS FROM OPERATING ACTIVITIES Income from continuing operations $ 3,876 3,804 12,353 9,858 Depreciation, depletion and amortization 2,137 1,049 5,282 3,075 Impairments 267 - 317 31 Dry hole costs and leasehold impairments 56 55 141 211 Accretion on discounted liabilities 74 46 207 135 Deferred taxes 495 261 273 753 Undistributed equity earnings (253) (463) (1,007) (1,682) Net gain on asset dispositions (8) (22) (64) (264) Other (282) 192 (296) 1 Working capital adjustments (127) 1,177 (1,327) 841 -------- ----- ------ ----- Net cash provided by continuing operations 6,235 6,099 15,879 12,959 Net cash provided by discontinued operations - (3) - (6) Net cash provided by operating activities $ 6,235 6,096 15,879 12,953 ======== ===== ====== ===== CAPITAL EXPENDITURES AND INVESTMENTS E&P United States $ 828 323 2,003 1,221 International 1,626 1,152 4,829 3,797 -------- ----- ------ ----- 2,454 1,475 6,832 5,018 Midstream - 838 2 839 R&M 374 440 2,484 1,075 LUKOIL Investment 702 815 1,962 1,523 Chemicals - - - - Emerging Businesses 6 2 46 5 Corporate and other 61 56 187 113 -------- ----- ------ ----- $ 3,597 3,626 11,513 8,573 ======== ===== ====== ===== OTHER At September 30, 2006 At December 31, 2005 Total debt $ 27,807 12,516 Common stockholders' equity $ 80,477 52,731
3 Preliminary OPERATING HIGHLIGHTS BY SEGMENT
Three Months Ended Nine Months Ended September 30 September 30 2006 2005 2006 2005 ---- ---- ---- ---- Thousands of Barrels Daily E&P Crude oil produced United States Alaska 234 281 265 296 Lower 48 119 56 101 60 --- --- --- --- 353 337 366 356 Norway 190 198 190 200 United Kingdom 50 56 56 59 Canada 26 22 25 23 China 36 22 32 23 Indonesia 11 10 13 16 Vietnam 24 30 25 27 Timor Sea 40 38 39 32 Libya 71 -- 49 -- Other 64 53 60 54 --- --- --- --- Total consolidated 865 766 855 790 Equity affiliates 104 124 117 122 --- --- --- --- Total Worldwide 969 890 972 912 === === === === Syncrude 23 21 20 19 === === === === Natural gas liquids produced United States Alaska* 11 18 18 19 Lower 48 75 30 58 30 --- --- --- --- 86 48 76 49 Norway 9 10 9 9 Canada 28 10 23 10 Timor Sea 20 20 20 15 Other 3 4 4 5 --- --- --- --- Total Worldwide 146 92 132 88 === === === === *Includes reinjected volumes sold lease-to-lease. 7 8 11 7 Millions of Cubic Feet Daily Natural gas produced* United States Alaska 123 173 150 169 Lower 48 2,320 1,218 1,953 1,194 ----- ----- ----- ----- 2,443 1,391 2,103 1,363 Norway 260 259 263 275 United Kingdom 665 588 770 717 Canada 1,154 429 930 422 China 8 -- 6 -- Timor Sea 300 35 232 35 Indonesia 342 303 320 288 Vietnam 20 20 21 17 Other 187 74 173 77 ----- ----- ----- ----- Total consolidated 5,379 3,099 4,818 3,194 Equity affiliates 8 10 9 8 ----- ----- ----- ----- Total Worldwide 5,387 3,109 4,827 3,202 ===== ===== ===== ===== *Represents quantities available for sale. Excludes gas equivalent of NGL shown above. Liquefied natural gas sales 522 123 407 117 LUKOIL Investment Production (MBOE/D)* 436 266 388 231 Refinery crude oil throughput (MB/D)* 164 138 165 110 *Represents our estimated net share of LUKOIL.
4 Preliminary OPERATING HIGHLIGHTS
Three Months Ended Nine Months Ended September 30 September 30 2006 2005 2006 2005 ---- ---- ---- ---- E&P Per Unit Average sales prices Crude oil (per barrel) United States Alaska $ 69.66 58.70 64.48 50.54 Lower 48 62.45 50.00 59.21 44.83 Total U.S. 67.25 57.31 63.05 49.59 International 67.45 59.52 65.27 51.46 Total consolidated 67.37 58.49 64.30 50.61 Equity affiliates* 46.98 45.25 47.36 37.45 Total Worldwide 65.04 56.64 62.18 48.80 Natural gas-lease (per MCF) United States Alaska 3.36 2.57 3.47 2.66 Lower 48 6.00 7.67 6.25 6.53 Total U.S. 5.98 7.48 6.21 6.40 International 5.87 5.60 6.23 5.25 Total consolidated 5.92 6.40 6.22 5.71 Equity affiliates* 0.32 0.20 0.30 0.25 Total Worldwide 5.91 6.38 6.21 5.70 *Excludes our equity share of LUKOIL reported in the LUKOIL Investment segment. Midstream Thousands of Barrels Daily Natural gas liquids extracted Consolidated United States 23 23 23 22 International - 5 - 34 Equity affiliates United States** 180 171 180 131 International 7 6 6 6 --- --- --- --- 210 205 209 193 === === === === **Represents 30.3 percent interest in Duke Energy Field Services LLC (DEFS), through June 30, 2005, and 50 percent interest beginning in July 2005. Per Barrel U.S. product prices Weighted average NGL** Consolidated $ 44.10 39.60 41.16 34.68 DEFS 43.00 38.31 40.49 33.42 **Prices are based on index prices from the Mont Belvieu and Conway market hubs that are weighted by naural-gas-liquids component and location mix.
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Three Months Ended Nine Months Ended September 30 September 30 2006 2005 2006 2005 ---- ---- ---- ---- Thousands of Barrels Daily R&M United States Crude oil capacity 2,208 2,182 2,208 2,179 Crude oil runs 2,127 2,040 1,990 2,044 Refinery production 2,334 2,223 2,173 2,238 International* Crude oil capacity 693 428 637 428 Crude oil runs 617 431 586 420 Refinery production 643 448 613 434 U.S. Petroleum products outside sales Automotive gasoline 1,369 1,397 1,309 1,376 Distillates 668 725 638 683 Aviation fuels 180 203 189 205 Other products 519 526 530 518 ----- ----- ----- ----- 2,736 2,851 2,666 2,782 International 749 470 772 481 ----- ----- ----- ----- 3,485 3,321 3,438 3,263 ===== ===== ===== ===== Per Gallon U.S. Average sales prices** Automotive gasoline-wholesale $ 2.27 2.00 2.13 1.71 Automotive gasoline-retail 2.46 2.14 2.28 1.86 Distillates-wholesale 2.31 1.97 2.15 1.71 *Includes ConocoPhillips' share of equity affiliates, except for our share of LUKOIL, which is reported in the LUKOIL Investment segment. **Excludes excise taxes.
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