BP 2008 Annual Report Download - page 53

BP Annual Report and Accounts 2008
Performance review
Exploration and Production
For the year ended 31 December $ million
2008 2007 2006
Total revenuesa 89,902 69,376 71,868
Profit before interest and tax from continuing operationsb 37,915 27,729 30,953
Results include:
Exploration expense 882 756 1,045
Of which: Exploration expenditure written off 385 347 624
$ per barrel
Key statistics
Average BP crude oil realizationsc
UK 92.09 70.36 62.45
US 97.37 68.51 62.03
Rest of World 94.74 70.86 61.11
BP average 95.43 69.98 61.91
Average BP NGL realizationsc
UK 57.24 52.71 47.21
US 52.14 44.59 36.13
Rest of World 50.84 48.14 36.03
BP average 52.30 46.20 37.17
Average BP liquids realizationsc d
UK 89.82 69.17 61.67
US 89.22 64.18 57.25
Rest of World 91.05 69.56 59.54
BP average 90.20 67.45 59.23
$ per thousand cubic feet
Average BP natural gas realizationsc
UK 8.41 6.40 6.33
US 6.77 5.43 5.74
Rest of World 5.19 3.71 3.70
BP average 6.00 4.53 4.72
$ per barrel
Average West Texas Intermediate oil price 100.06 72.20 66.02
Alaska North Slope US West Coast 98.86 71.68 63.57
Average Brent oil price 97.26 72.39 65.14
$ per million British thermal units
Average Henry Hub gas pricee 9.04 6.86 7.24
pence per therm
Average UK National Balancing Point gas price 58.12 29.95 42.19
thousand barrels per day
Total liquids production for subsidiariesd f 1,263 1,304 1,351
Total liquids production for equity-accounted entitiesd f 1,138 1,110 1,124
million cubic feet per day
Natural gas production for subsidiariesf 7,277 7,222 7,412
Natural gas production for equity-accounted entitiesf 1,057 921 1,005
thousand barrels of oil equivalent per day
Total production for subsidiariesf g 2,517 2,549 2,629
Total production for equity-accounted entitiesf g 1,321 1,269 1,297
aIncludes sales between businesses.
bIncludes profit after interest and tax of equity-accounted entities.
cRealizations are based on sales of consolidated subsidiaries only, which excludes equity-accounted entities.
dCrude oil and natural gas liquids.
eHenry Hub First of Month Index.
fNet of royalties.
gExpressed in thousands of barrels of oil equivalent per day (mboe/d). Natural gas is converted to oil equivalent at 5.8 billion cubic feet = 1 million barrels.
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