| Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves |
Schedule 5 –
Standardized Measure of Discounted Future Net Cash Flows Relating
to Proved Oil and Gas Reserves
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Millions of
dollars)
|
|
United
States |
|
|
Canada |
|
|
Malaysia |
|
|
United
Kingdom |
|
|
Republic
of
the
Congo |
|
|
Total |
|
|
December 31,
2013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Future cash
inflows
|
|
$ |
20,638.6 |
|
|
|
16,112.9 |
|
|
|
13,399.0 |
|
|
|
0.0 |
|
|
|
0.0 |
|
|
|
50,150.5 |
|
|
Future development
costs
|
|
|
(3,833.9 |
) |
|
|
(1,882.3 |
) |
|
|
(1,445.3 |
) |
|
|
0.0 |
|
|
|
0.0 |
|
|
|
(7,161.5 |
) |
|
Future production
costs
|
|
|
(5,244.7 |
) |
|
|
(7,073.0 |
) |
|
|
(4,490.4 |
) |
|
|
0.0 |
|
|
|
0.0 |
|
|
|
(16,808.1 |
) |
|
Future income
taxes
|
|
|
(3,368.3 |
) |
|
|
(1,472.8 |
) |
|
|
(1,855.1 |
) |
|
|
0.0 |
|
|
|
0.0 |
|
|
|
(6,696.2 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Future net cash
flows
|
|
|
8,191.7 |
|
|
|
5,684.8 |
|
|
|
5,608.2 |
|
|
|
0.0 |
|
|
|
0.0 |
|
|
|
19,484.7 |
|
|
10% annual discount for
estimated timing of cash flows
|
|
|
(4,020.2 |
) |
|
|
(2,999.1 |
) |
|
|
(1,620.7 |
) |
|
|
0.0 |
|
|
|
0.0 |
|
|
|
(8,640.0 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Standardized measure of
discounted future net cash flows
|
|
$ |
4,171.5 |
|
|
|
2,685.7 |
|
|
|
3,987.5 |
|
|
|
0.0 |
|
|
|
0.0 |
|
|
|
10,844.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Future cash
inflows
|
|
$ |
15,547.5 |
|
|
|
15,511.6 |
|
|
|
10,354.9 |
|
|
|
2,395.2 |
|
|
|
0.0 |
|
|
|
43,809.2 |
|
|
Future development
costs
|
|
|
(3,731.6 |
) |
|
|
(1,815.2 |
) |
|
|
(966.9 |
) |
|
|
(273.2 |
) |
|
|
0.0 |
|
|
|
(6,786.9 |
) |
|
Future production
costs
|
|
|
(3,466.6 |
) |
|
|
(7,336.4 |
) |
|
|
(3,143.4 |
) |
|
|
(738.3 |
) |
|
|
0.0 |
|
|
|
(14,684.7 |
) |
|
Future income
taxes
|
|
|
(2,527.6 |
) |
|
|
(1,714.9 |
) |
|
|
(1,675.9 |
) |
|
|
(872.7 |
) |
|
|
0.0 |
|
|
|
(6,791.1 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Future net cash
flows
|
|
|
5,821.7 |
|
|
|
4,645.1 |
|
|
|
4,568.7 |
|
|
|
511.0 |
|
|
|
0.0 |
|
|
|
15,546.5 |
|
|
10% annual discount for
estimated timing of cash flows
|
|
|
(2,862.1 |
) |
|
|
(2,876.5 |
) |
|
|
(1,322.9 |
) |
|
|
(372.2 |
) |
|
|
0.0 |
|
|
|
(7,433.7 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Standardized measure of
discounted future net cash flows
|
|
$ |
2,959.6 |
|
|
|
1,768.6 |
|
|
|
3,245.8 |
|
|
|
138.8 |
|
|
|
0.0 |
|
|
|
8,112.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Future cash
inflows
|
|
$ |
6,105.4 |
|
|
|
18,835.5 |
|
|
|
11,037.5 |
|
|
|
2,509.5 |
|
|
|
248.6 |
|
|
|
38,736.5 |
|
|
Future development
costs
|
|
|
(1,283.5 |
) |
|
|
(1,929.5 |
) |
|
|
(1,559.8 |
) |
|
|
(356.2 |
) |
|
|
(0.0 |
) |
|
|
(5,129.0 |
) |
|
Future production
costs
|
|
|
(1,417.9 |
) |
|
|
(7,199.7 |
) |
|
|
(3,087.8 |
) |
|
|
(763.0 |
) |
|
|
(183.8 |
) |
|
|
(12,652.2 |
) |
|
Future income
taxes
|
|
|
(807.2 |
) |
|
|
(2,806.8 |
) |
|
|
(2,129.7 |
) |
|
|
(869.0 |
) |
|
|
(39.7 |
) |
|
|
(6,652.4 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Future net cash
flows
|
|
|
2,596.8 |
|
|
|
6,899.5 |
|
|
|
4,260.2 |
|
|
|
521.3 |
|
|
|
25.1 |
|
|
|
14,302.9 |
|
|
10% annual discount for
estimatedtiming of cash flows
|
|
|
(912.0 |
) |
|
|
(3,658.7 |
) |
|
|
(1,507.4 |
) |
|
|
(304.4 |
) |
|
|
2.8 |
|
|
|
(6,379.7 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Standardized measure of
discounted future net cash flows
|
|
$ |
1,684.8 |
|
|
|
3,240.8 |
|
|
|
2,752.8 |
|
|
|
216.9 |
|
|
|
27.9 |
|
|
|
7,923.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Following are the principal
sources of change in the standardized measure of discounted future
net cash flows for the years shown.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Millions of
dollars)
|
|
2013 |
|
|
2012 |
|
|
2011 |
|
|
Net changes in prices and
production costs
|
|
$ |
267.8 |
|
|
|
(2,461.1 |
) |
|
|
3,743.4 |
|
|
Net changes in development
costs
|
|
|
(3,456.8 |
) |
|
|
(3,860.1 |
) |
|
|
(4,113.9 |
) |
|
Sales and transfers of oil
and gas produced, net of production costs
|
|
|
(3,972.4 |
) |
|
|
(3,493.3 |
) |
|
|
(3,273.5 |
) |
|
Net change due to
extensions and discoveries
|
|
|
4,608.9 |
|
|
|
4,466.3 |
|
|
|
3,300.9 |
|
|
Net change due to purchases
and sales of proved reserves
|
|
|
(135.6 |
) |
|
|
347.4 |
|
|
|
0.0 |
|
|
Development costs
incurred
|
|
|
3,326.8 |
|
|
|
3,299.0 |
|
|
|
1,881.5 |
|
|
Accretion of
discount
|
|
|
1,109.3 |
|
|
|
1,153.5 |
|
|
|
827.7 |
|
|
Revisions of previous
quantity estimates
|
|
|
1,646.0 |
|
|
|
728.1 |
|
|
|
892.5 |
|
|
Net change in income
taxes
|
|
|
(662.1 |
) |
|
|
9.8 |
|
|
|
(1,029.4 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase
|
|
|
2,731.9 |
|
|
|
189.6 |
|
|
|
2,229.2 |
|
|
Standardized measure at
January 1
|
|
|
8,112.8 |
|
|
|
7,923.2 |
|
|
|
5,694.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Standardized measure at
December 31
|
|
$ |
10,844.7 |
|
|
|
8,112.8 |
|
|
|
7,923.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|