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HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
SUPPLEMENTARY OIL AND GAS DATA
(Unaudited)
The Supplementary Oil and Gas Data that follows is presented in accordance with ASC 932, Disclosures
about Oil and Gas Producing Activities, and includes (1) costs incurred, capitalized costs and results of
operations relating to oil and gas producing activities, (2) net proved oil and gas reserves and (3) a standardized
measure of discounted future net cash flows relating to proved oil and gas reserves, including a reconciliation of
changes therein.
The Corporation produces crude oil, natural gas liquids and/or natural gas principally in Algeria, Azerbaijan,
Denmark, Equatorial Guinea, Gabon (until September 2010), Indonesia, Libya, Malaysia, Norway, Russia,
Thailand, the United Kingdom and the United States. Exploration activities are also conducted, or are planned, in
additional countries.
Costs Incurred in Oil and Gas Producing Activities
For the Years Ended December 31 Total
United
States
Europe
(d) Africa
Asia and
Other
(Millions of dollars)
2011
Property acquisitions (a)
Unproved .....................................$1,224 $ 992 $ — $ — $232
Proved ........................................ 122 6 116 — —
Exploration ...................................... 1,325 525 98 292 410
Production and development capital expenditures (c) ..... 5,645 2,951 1,734 189 771
2010
Property acquisitions (a, b)
Unproved .....................................$1,887 $1,849 $ 38 $ — $ —
Proved ........................................ 1,015 443 572 — —
Exploration ...................................... 915 185 58 164 508
Production and development capital expenditures (c) ..... 2,654 1,088 850 289 427
2009
Property acquisitions (a)
Unproved .....................................$ 188 $ 184 $ 2 $ — $ 2
Proved ........................................ 74 — — — 74
Exploration ...................................... 938 206 69 225 438
Production and development capital expenditures (c) ..... 1,918 807 513 255 343
(a) Includes wells, equipment and facilities acquired with proved reserves and excludes properties acquired in non-cash property
exchanges.
(b) In 2010, acquisitions include $652 million, representing the non-cash portion of the purchase price for American Oil & Gas Inc.,
primarily through the issuance of common stock.
(c) Includes $972 million, $62 million and $(9) million in 2011, 2010 and 2009, respectively, related to the accruals and revisions for asset
retirement obligations except obligations acquired in non-cash property exchanges.
(d) Costs incurred in oil and gas producing activities in Norway, excluding non-monetary exchanges, were as follows for the years ended
December 31:
2011 2010
(Millions of dollars)
Property acquisitions (a)
Unproved ............................................................... $— $14
Proved ................................................................. —572
Exploration ................................................................ 10 12
Production and development capital expenditures ................................. 741 469
85