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Supplemental Oil and Gas Disclosures (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2015
Extractive Industries [Abstract]  
Revenue and Direct Cost Information Relating to Company's Oil and Gas Exploration and Production Activities
 
 
United
States
 
Canada
 
Egypt(3)
 
North Sea
 
Other
International
 
Total(3)(4)
 
 
(In millions, except per boe)
2015
 
 
 
 
 
 
 
 
 
 
 
 
Oil and gas production revenues
 
$
2,637

 
$
498

 
$
2,095

 
$
1,280

 
$

 
$
6,510

Operating cost:
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation, depletion, and amortization(1)
 
1,455

 
251

 
780

 
490

 

 
2,976

Asset retirement obligation accretion
 
28

 
43

 

 
74

 

 
145

Lease operating expenses
 
739

 
244

 
522

 
349

 

 
1,854

Gathering and transportation
 
68

 
89

 
45

 
9

 

 
211

Exploration expenses
 
2,145

 
231

 
154

 
237

 
4

 
2,771

Impairments related to oil and gas properties
 
6,154

 
1,031

 
193

 
11

 

 
7,389

Production taxes(2)
 
178

 
23

 

 
58

 

 
259

Income tax
 
(2,886
)
 
(369
)
 
180

 
26

 

 
(3,049
)
 
 
7,881

 
1,543

 
1,874

 
1,254

 
4

 
12,556

Results of operation
 
$
(5,244
)
 
$
(1,045
)
 
$
221

 
$
26

 
$
(4
)
 
$
(6,046
)
2014
 
 
 
 
 
 
 
 
 
 
 
 
Oil and gas production revenues
 
$
5,744

 
$
1,092

 
$
3,643

 
$
2,316

 
$

 
$
12,795

Operating cost:
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation, depletion, and amortization(1)
 
2,294

 
382

 
735

 
784

 

 
4,195

Asset retirement obligation accretion
 
43

 
39

 

 
72

 

 
154

Lease operating expenses
 
921

 
384

 
499

 
434

 

 
2,238

Gathering and transportation
 
93

 
123

 
40

 
17

 

 
273

Exploration expenses
 
2,113

 
162

 
112

 
119

 
(7
)
 
2,499

Impairments related to oil and gas properties
 
2,372

 
1,645

 
173

 
1,878

 

 
6,068

Production taxes(2)
 
342

 
27

 

 
177

 

 
546

Income tax
 
(864
)
 
(421
)
 
938

 
(723
)
 

 
(1,070
)
 
 
7,314

 
2,341

 
2,497

 
2,758

 
(7
)
 
14,903

Results of operation
 
$
(1,570
)
 
$
(1,249
)
 
$
1,146

 
$
(442
)
 
$
7

 
$
(2,108
)
2013
 
 
 
 
 
 
 
 
 
 
 
 
Oil and gas production revenues
 
$
6,902

 
$
1,224

 
$
3,971

 
$
2,728

 
$

 
$
14,825

Operating cost:
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation, depletion, and amortization(1)
 
2,579

 
417

 
756

 
953

 

 
4,705

Asset retirement obligation accretion
 
94

 
49

 

 
68

 

 
211

Lease operating expenses
 
1,320

 
459

 
471

 
400

 

 
2,650

Gathering and transportation
 
84

 
155

 
42

 
7

 

 
288

Exploration expenses
 
629

 
86

 
86

 
58

 
83

 
942

Impairments related to oil and gas properties
 
96

 
274

 
12

 
1,061

 

 
1,443

Production taxes(2)
 
324

 
40

 

 
382

 

 
746

Income tax
 
630

 
(63
)
 
1,198

 
(125
)
 

 
1,640

 
 
5,756

 
1,417

 
2,565

 
2,804

 
83

 
12,625

Results of operation
 
$
1,146

 
$
(193
)
 
$
1,406

 
$
(76
)
 
$
(83
)
 
$
2,200



 
(1)
This amount only reflects DD&A of capitalized costs of oil and gas properties and, therefore, does not agree with DD&A reflected on Note 15—Business Segment Information.
(2)
Only reflects amounts directly related to oil and gas producing properties and, therefore, does not agree with taxes other than income reflected on Note 15—Business Segment Information.
(3)
Includes noncontrolling interest in Egypt.
(4)
Prior year amounts have been recast to exclude discontinued operations.
Costs Incurred in Oil and Gas Property Acquisitions, Exploration and Development Activities
Costs Incurred in Oil and Gas Property Acquisitions, Exploration, and Development Activities
 
 
 
United
States
 
Canada
 
Egypt(2)
 
Australia
 
North Sea
 
Argentina
 
Other
International
 
Total(2)
 
 
(In millions)
2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Acquisitions:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Proved
 
$
1

 
$
8

 
$
29

 
$

 
$

 
$

 
$

 
$
38

Unproved
 
313

 
23

 

 

 

 

 

 
336

Exploration
 
194

 
51

 
125

 
32

 
246

 

 
29

 
677

Development
 
1,729

 
151

 
741

 
98

 
479

 

 

 
3,198

Costs incurred(1)
 
$
2,237

 
$
233

 
$
895

 
$
130

 
$
725

 
$

 
$
29

 
$
4,249

(1) Includes capitalized interest and asset retirement costs as follows:
 
 
 
 
 
 
 
 
Capitalized interest
 
$

 
$

 
$
8

 
$
6

 
$
7

 
$

 
$

 
$
21

Asset retirement costs
 
123

 
8

 

 

 
(66
)
 

 

 
65

2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Acquisitions:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Proved
 
$
102

 
$

 
$
11

 
$

 
$

 
$

 
$

 
$
113

Unproved
 
1,221

 
141

 

 
16

 

 

 

 
1,378

Exploration
 
505

 
93

 
207

 
131

 
103

 
9

 
1

 
1,049

Development
 
5,078

 
789

 
1,122

 
990

 
956

 
6

 

 
8,941

Costs incurred(1)
 
$
6,906

 
$
1,023

 
$
1,340

 
$
1,137

 
$
1,059

 
$
15

 
$
1

 
$
11,481

(1) Includes capitalized interest and asset retirement costs as follows:
 
 
 
 
Capitalized interest
 
$
17

 
$

 
$
9

 
$
90

 
$
29

 
$
3

 
$

 
$
148

Asset retirement costs
 
43

 
175

 

 
55

 
34

 

 

 
307

2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Acquisitions:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Proved
 
$
17

 
$

 
$
39

 
$

 
$
125

 
$

 
$

 
$
181

Unproved
 
195

 
151

 
11

 

 
17

 
11

 

 
385

Exploration
 
617

 
35

 
565

 
168

 
259

 
42

 
22

 
1,708

Development
 
5,188

 
681

 
599

 
1,055

 
661

 
142

 

 
8,326

Costs incurred(1)
 
$
6,017

 
$
867

 
$
1,214

 
$
1,223

 
$
1,062

 
$
195

 
$
22

 
$
10,600

(1) Includes capitalized interest and asset retirement costs as follows:
 
 
Capitalized interest
 
$
50

 
$

 
$
2

 
$
74

 
$
32

 
$
10

 
$

 
$
168

Asset retirement costs
 
480

 
17

 

 
(30
)
 
67

 
3

 

 
537

(2) Includes a noncontrolling interest in Egypt.
 
 
United
States
 
Canada
 
Egypt(1)
 
Australia
 
North
Sea
 
Other
International
 
Total(1)
 
 
(In millions)
2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Proved properties
 
$
18,692

 
$
5,812

 
$
9,798

 
$

 
$
7,426

 
$

 
$
41,728

Unproved properties
 
1,615

 
172

 
25

 

 
429

 
36

 
2,277

 
 
20,307

 
5,984

 
9,823

 

 
7,855

 
36

 
44,005

Accumulated DD&A
 
(9,027
)
 
(3,958
)
 
(6,559
)
 

 
(4,913
)
 

 
(24,457
)
 
 
$
11,280

 
$
2,026

 
$
3,264

 
$

 
$
2,942

 
$
36

 
$
19,548

2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Proved properties
 
$
22,791

 
$
6,659

 
$
9,096

 
$
3,919

 
$
6,911

 
$

 
$
49,376

Unproved properties
 
3,610

 
675

 
179

 
438

 
579

 
9

 
5,490

 
 
26,401

 
7,334

 
9,275

 
4,357

 
7,490

 
9

 
54,866

Accumulated DD&A
 
(7,572
)
 
(3,803
)
 
(5,779
)
 
(2,744
)
 
(4,533
)
 

 
(24,431
)
 
 
$
18,829

 
$
3,531

 
$
3,496

 
$
1,613

 
$
2,957

 
$
9

 
$
30,435

(1) Includes a noncontrolling interest in Egypt.
 
 
 
 
Proved Reserve Data
 
 
Crude Oil and Condensate
 
 
(Thousands of barrels)
 
 
United
States
 
Canada
 
Egypt(1)
 
Australia
 
North
Sea
 
Argentina
 
Total(1)
Proved developed reserves:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2012
 
474,837

 
79,695

 
106,746

 
29,053

 
119,635

 
15,845

 
825,811

December 31, 2013
 
457,981

 
80,526

 
119,242

 
22,524

 
100,327

 
14,195

 
794,795

December 31, 2014
 
444,440

 
75,876

 
128,712

 
29,996

 
105,746

 

 
784,770

December 31, 2015
 
348,797

 
67,847

 
144,164

 

 
104,255

 

 
665,063

Proved undeveloped reserves:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2012
 
203,068

 
70,650

 
17,288

 
34,808

 
28,019

 
2,981

 
356,814

December 31, 2013
 
195,835

 
56,366

 
16,302

 
36,703

 
29,253

 
2,231

 
336,690

December 31, 2014
 
170,125

 
59,923

 
14,617

 
25,775

 
19,059

 

 
289,499

December 31, 2015
 
60,505

 
38,326

 
17,856

 

 
11,309

 

 
127,996

Total proved reserves:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance December 31, 2012
 
677,905

 
150,345

 
124,034

 
63,861

 
147,654

 
18,826

 
1,182,625

Extensions, discoveries and other additions
 
133,227

 
10,177

 
43,738

 
2,539

 
1,543

 
998

 
192,222

Purchase of minerals in-place
 
85

 

 
5

 

 
3,623

 

 
3,713

Revisions of previous estimates
 
1,683

 
(531
)
 
650

 
(118
)
 
18

 
24

 
1,726

Production
 
(53,621
)
 
(6,469
)
 
(32,883
)
 
(7,055
)
 
(23,258
)
 
(3,422
)
 
(126,708
)
Sale of properties
 
(105,463
)
 
(16,630
)
 

 

 

 

 
(122,093
)
Balance December 31, 2013
 
653,816

 
136,892

 
135,544

 
59,227

 
129,580

 
16,426

 
1,131,485

Extensions, discoveries and other additions
 
57,011

 
9,657

 
38,074

 
4,254

 
17,386

 
5

 
126,387

Purchase of minerals in-place
 
15,240

 

 

 

 

 

 
15,240

Revisions of previous estimates
 
3,083

 
(812
)
 
2,645

 
(216
)
 
(7
)
 

 
4,693

Production
 
(48,789
)
 
(6,421
)
 
(32,934
)
 
(7,494
)
 
(22,154
)
 
(620
)
 
(118,412
)
Sale of properties
 
(65,796
)
 
(3,517
)
 

 

 

 
(15,811
)
 
(85,124
)
Balance December 31, 2014
 
614,565

 
135,799

 
143,329

 
55,771

 
124,805

 

 
1,074,269

Extensions, discoveries and other additions
 
13,903

 
4,550

 
24,524

 

 
16,579

 

 
59,556

Purchase of minerals in-place
 

 
1,763

 

 

 

 

 
1,763

Revisions of previous estimates
 
(173,907
)
 
(27,966
)
 
27,330

 
11,189

 
(2,255
)
 

 
(165,609
)
Production
 
(45,138
)
 
(5,755
)
 
(33,163
)
 
(2,778
)
 
(21,657
)
 

 
(108,491
)
Sale of properties
 
(121
)
 
(2,218
)
 

 
(64,182
)
 
(1,908
)
 

 
(68,429
)
Balance December 31, 2015
 
409,302

 
106,173

 
162,020

 

 
115,564

 

 
793,059

(1)    2015, 2014, and 2013 includes proved reserves of 54 MMbbls, 48 MMbbls, and 45 MMbbls, respectively, attributable to a noncontrolling interest in Egypt.

 
 
Natural Gas Liquids
 
 
(Thousands of barrels)
 
 
United
States
 
Canada
 
Egypt(1)
 
Australia
 
North
Sea
 
Argentina
 
Total(1)
Proved developed reserves:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2012
 
154,508

 
21,996

 

 

 
2,438

 
5,007

 
183,949

December 31, 2013
 
184,485

 
26,099

 

 

 
2,435

 
4,110

 
217,129

December 31, 2014
 
183,565

 
17,947

 
1,346

 

 
1,770

 

 
204,628

December 31, 2015
 
150,265

 
15,246

 
1,491

 

 
1,784

 

 
168,786

Proved undeveloped reserves:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2012
 
60,889

 
12,258

 

 

 
380

 
876

 
74,403

December 31, 2013
 
63,538

 
9,970

 

 

 
215

 
1,009

 
74,732

December 31, 2014
 
69,828

 
7,168

 
212

 

 
371

 

 
77,579

December 31, 2015
 
24,939

 
4,839

 
78

 

 
295

 

 
30,151

Total proved reserves:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance December 31, 2012
 
215,397

 
34,254

 

 

 
2,818

 
5,883

 
258,352

Extensions, discoveries and other additions
 
69,231

 
4,014

 

 

 

 

 
73,245

Purchase of minerals in-place
 
45

 

 

 

 
295

 

 
340

Revisions of previous estimates
 
1,591

 
546

 

 

 
1

 
3

 
2,141

Production
 
(19,922
)
 
(2,442
)
 

 

 
(464
)
 
(767
)
 
(23,595
)
Sale of properties
 
(18,319
)
 
(303
)
 

 

 

 

 
(18,622
)
Balance December 31, 2013
 
248,023

 
36,069

 

 

 
2,650

 
5,119

 
291,861

Extensions, discoveries and other additions
 
47,516

 
1,163

 
1,820

 

 
1

 

 
50,500

Purchase of minerals in-place
 
2,916

 

 

 

 

 

 
2,916

Revisions of previous estimates
 
2,594

 
116

 
(11
)
 

 
(2
)
 

 
2,697

Production
 
(21,464
)
 
(2,256
)
 
(251
)
 

 
(508
)
 
(116
)
 
(24,595
)
Sale of properties
 
(26,192
)
 
(9,977
)
 

 

 

 
(5,003
)
 
(41,172
)
Balance December 31, 2014
 
253,393

 
25,115

 
1,558

 

 
2,141

 

 
282,207

Extensions, discoveries and other additions
 
5,768

 
1,473

 
144

 

 
689

 

 
8,074

Purchase of minerals in-place
 

 
976

 

 

 

 

 
976

Revisions of previous estimates
 
(64,226
)
 
(4,886
)
 
255

 

 
(321
)
 

 
(69,178
)
Production
 
(19,684
)
 
(2,236
)
 
(388
)
 

 
(413
)
 

 
(22,721
)
Sale of properties
 
(47
)
 
(357
)
 

 

 
(17
)
 

 
(421
)
Balance December 31, 2015
 
175,204

 
20,085

 
1,569

 

 
2,079

 

 
198,937

(1)    2015 and 2014 includes proved reserves of 523 Mbbls and 519 Mbbls, respectively, attributable to a noncontrolling interest in Egypt.

 
 
 
Natural Gas
 
 
(Millions of cubic feet)
 
 
United
States
 
Canada
 
Egypt(1)
 
Australia
 
North
Sea
 
Argentina
 
Total(1)
Proved developed reserves:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2012
 
2,353,587

 
1,734,657

 
690,436

 
596,052

 
93,319

 
365,054

 
5,833,105

December 31, 2013
 
2,005,966

 
1,294,420

 
621,825

 
626,543

 
88,177

 
289,133

 
4,926,064

December 31, 2014
 
1,616,504

 
990,145

 
637,187

 
640,265

 
87,259

 

 
3,971,360

December 31, 2015
 
1,364,174

 
759,321

 
776,263

 

 
85,532

 

 
2,985,290

Proved undeveloped reserves:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2012
 
832,320

 
403,227

 
205,055

 
1,074,018

 
18,985

 
97,496

 
2,631,101

December 31, 2013
 
667,160

 
439,037

 
190,355

 
975,224

 
18,988

 
121,584

 
2,412,348

December 31, 2014
 
580,299

 
527,623

 
171,696

 
964,554

 
23,228

 

 
2,267,400

December 31, 2015
 
208,594

 
162,809

 
53,969

 

 
19,760

 

 
445,132

Total proved reserves:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance December 31, 2012
 
3,185,907

 
2,137,884

 
895,491

 
1,670,070

 
112,304

 
462,550

 
8,464,206

Extensions, discoveries and other additions
 
306,721

 
359,493

 
44,382

 
13,351

 
2,750

 
16,515

 
743,212

Purchase of minerals in-place
 
855

 

 

 

 
10,680

 

 
11,535

Revisions of previous estimates
 
61,247

 
109,551

 
14,824

 
(101
)
 
32

 
49

 
185,602

Production
 
(285,187
)
 
(181,593
)
 
(142,517
)
 
(81,553
)
 
(18,601
)
 
(68,397
)
 
(777,848
)
Sale of properties
 
(596,417
)
 
(691,878
)
 

 

 

 

 
(1,288,295
)
Balance December 31, 2013
 
2,673,126

 
1,733,457

 
812,180

 
1,601,767

 
107,165

 
410,717

 
7,338,412

Extensions, discoveries and other additions
 
203,318

 
383,077

 
125,899

 
81,156

 
23,803

 

 
817,253

Purchase of minerals in-place
 
21,337

 

 

 

 

 

 
21,337

Revisions of previous estimates
 
35,910

 
(12,626
)
 
17,326

 

 
(54
)
 

 
40,556

Production
 
(215,829
)
 
(117,816
)
 
(146,522
)
 
(78,104
)
 
(20,427
)
 
(12,722
)
 
(591,420
)
Sale of properties
 
(521,059
)
 
(468,324
)
 

 

 

 
(397,995
)
 
(1,387,378
)
Balance December 31, 2014
 
2,196,803

 
1,517,768

 
808,883

 
1,604,819

 
110,487

 

 
6,238,760

Extensions, discoveries and other additions
 
40,901

 
121,216

 
94,777

 

 
41,755

 

 
298,649

Purchase of minerals in-place
 

 
24,727

 

 

 

 

 
24,727

Revisions of previous estimates
 
(503,939
)
 
(325,375
)
 
61,442

 
8,162

 
(22,373
)
 

 
(782,083
)
Production
 
(160,614
)
 
(100,289
)
 
(134,870
)
 
(34,352
)
 
(23,647
)
 

 
(453,772
)
Sale of properties
 
(383
)
 
(315,917
)
 

 
(1,578,629
)
 
(930
)
 

 
(1,895,859
)
Balance December 31, 2015
 
1,572,768

 
922,130

 
830,232

 

 
105,292

 

 
3,430,422

(1)    2015, 2014, and 2013 include proved reserves of 277 Bcf, 270 Bcf, and 271 Bcf, respectively, attributable to a noncontrolling interest in Egypt.

 
 
Total Equivalent Reserves
 
 
(Thousands barrels of oil equivalent)
 
 
United
States
 
Canada
 
Egypt(1)
 
Australia
 
North
Sea
 
Argentina
 
Total(1)
Proved developed reserves:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2012
 
1,021,610

 
390,800

 
221,819

 
128,395

 
137,626

 
81,695

 
1,981,945

December 31, 2013
 
976,795

 
322,362

 
222,880

 
126,948

 
117,457

 
66,494

 
1,832,936

December 31, 2014
 
897,422

 
258,848

 
236,256

 
136,707

 
122,058

 

 
1,651,291

December 31, 2015
 
726,424

 
209,647

 
275,033

 

 
120,293

 

 
1,331,397

Proved undeveloped reserves:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2012
 
402,677

 
150,113

 
51,464

 
213,811

 
31,563

 
20,106

 
869,734

December 31, 2013
 
370,566

 
139,509

 
48,028

 
199,240

 
32,633

 
23,504

 
813,480

December 31, 2014
 
336,670

 
155,028

 
43,446

 
186,534

 
23,301

 

 
744,979

December 31, 2015
 
120,210

 
70,300

 
26,929

 

 
14,897

 

 
232,336

Total proved reserves:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance December 31, 2012
 
1,424,287

 
540,913

 
273,283

 
342,206

 
169,189

 
101,801

 
2,851,679

Extensions, discoveries and other additions
 
253,578

 
74,107

 
51,135

 
4,764

 
2,001

 
3,751

 
389,336

Purchase of minerals in-place
 
273

 

 
5

 

 
5,698

 

 
5,976

Revisions of previous estimates
 
13,482

 
18,274

 
3,121

 
(135
)
 
24

 
35

 
34,801

Production
 
(121,074
)
 
(39,177
)
 
(56,636
)
 
(20,647
)
 
(26,822
)
 
(15,589
)
 
(279,945
)
Sale of properties
 
(223,185
)
 
(132,246
)
 

 

 

 

 
(355,431
)
Balance December 31, 2013
 
1,347,361

 
461,871

 
270,908

 
326,188

 
150,090

 
89,998

 
2,646,416

Extensions, discoveries and other additions
 
138,413

 
74,666

 
60,877

 
17,780

 
21,354

 
5

 
313,095

Purchase of minerals in-place
 
21,712

 

 

 

 

 

 
21,712

Revisions of previous estimates
 
11,662

 
(2,800
)
 
5,522

 
(216
)
 
(18
)
 

 
14,150

Production
 
(106,225
)
 
(28,313
)
 
(57,605
)
 
(20,511
)
 
(26,067
)
 
(2,856
)
 
(241,577
)
Sale of properties
 
(178,831
)
 
(91,548
)
 

 

 

 
(87,147
)
 
(357,526
)
Balance December 31, 2014
 
1,234,092

 
413,876

 
279,702

 
323,241

 
145,359

 

 
2,396,270

Extensions, discoveries and other additions
 
26,488

 
26,226

 
40,464

 

 
24,227

 

 
117,405

Purchase of minerals in-place
 

 
6,860

 

 

 

 

 
6,860

Revisions of previous estimates
 
(322,123
)
 
(87,081
)
 
37,825

 
12,549

 
(6,305
)
 

 
(365,135
)
Production
 
(91,591
)
 
(24,706
)
 
(56,029
)
 
(8,503
)
 
(26,011
)
 

 
(206,840
)
Sale of properties
 
(232
)
 
(55,228
)
 

 
(327,287
)
 
(2,080
)
 

 
(384,827
)
Balance December 31, 2015
 
846,634

 
279,947

 
301,962

 

 
135,190

 

 
1,563,733

(1)    2015, 2014, and 2013 include total proved reserves of 101 MMboe, 93 MMboe, and 90 MMboe, respectively, attributable to a noncontrolling interest in Egypt.
Unaudited Information of Future Net Cash Flows For Oil and Gas Reserves, Net of Income Tax Expense
 
 
United
States
 
Canada
 
Egypt(2)
 
Australia
 
North
Sea
 
Argentina
 
Total(2)
 
 
(In millions)
2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash inflows
 
$
26,610

 
$
7,345

 
$
11,124

 
$

 
$
6,994

 
$

 
$
52,073

Production costs
 
(12,178
)
 
(3,841
)
 
(2,185
)
 

 
(3,209
)
 

 
(21,413
)
Development costs
 
(2,255
)
 
(1,939
)
 
(1,515
)
 

 
(2,346
)
 

 
(8,055
)
Income tax expense
 
(63
)
 

 
(2,326
)
 

 
(691
)
 

 
(3,080
)
Net cash flows
 
12,114

 
1,565

 
5,098

 

 
748

 

 
19,525

10 percent discount rate
 
(6,876
)
 
(868
)
 
(1,330
)
 

 
143

 

 
(8,931
)
Discounted future net cash flows(1)
 
$
5,238

 
$
697

 
$
3,768

 
$

 
$
891

 
$

 
$
10,594

2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash inflows
 
73,859

 
18,966

 
16,802

 
19,391

 
13,916

 

 
142,934

Production costs
 
(25,875
)
 
(7,537
)
 
(2,924
)
 
(4,105
)
 
(7,121
)
 

 
(47,562
)
Development costs
 
(4,422
)
 
(2,453
)
 
(1,683
)
 
(1,173
)
 
(2,776
)
 

 
(12,507
)
Income tax expense
 
(10,657
)
 
(1,070
)
 
(4,091
)
 
(3,202
)
 
(2,445
)
 

 
(21,465
)
Net cash flows
 
32,905

 
7,906

 
8,104

 
10,911

 
1,574

 

 
61,400

10 percent discount rate
 
(17,639
)
 
(3,983
)
 
(2,099
)
 
(5,875
)
 
(146
)
 

 
(29,742
)
Discounted future net cash flows(1)
 
$
15,266

 
$
3,923

 
$
6,005

 
$
5,036

 
$
1,428

 
$

 
$
31,658

 
(1)
Estimated future net cash flows before income tax expense, discounted at 10 percent per annum, totaled approximately $13.1 billion and $43.0 billion as of December 31, 2015 and 2014, respectively.
(2)
Includes discounted future net cash flows of approximately $1.3 billion and $2.0 billion in 2015 and 2014, respectively, attributable to a noncontrolling interest in Egypt.
 
Principal Sources of Change In Discounted Future Net Cash Flows
 
 
For the Year Ended December 31,        
 
 
2015
 
2014
 
2013
 
 
(In millions)
Sales, net of production costs
 
$
(4,056
)
 
$
(10,350
)
 
$
(12,271
)
Net change in prices and production costs
 
(21,710
)
 
(1,029
)
 
1,438

Discoveries and improved recovery, net of related costs
 
1,953

 
6,297

 
6,892

Change in future development costs
 
705

 
(1,136
)
 
(2,017
)
Previously estimated development costs incurred during the period
 
1,991

 
4,462

 
4,654

Revision of quantities
 
(2,292
)
 
256

 
500

Purchases of minerals in-place
 
22

 
508

 
227

Accretion of discount
 
3,642

 
4,442

 
4,823

Change in income taxes
 
7,264

 
836

 
855

Sales of properties
 
(5,240
)
 
(4,780
)
 
(6,232
)
Change in production rates and other
 
(3,343
)
 
(442
)
 
(828
)
 
 
$
(21,064
)
 
$
(936
)
 
$
(1,959
)