Occidental Petroleum 2001 Annual Report Download - page 77

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---------- ---------- ---------- ----------
TOTAL CAPITALIZED COSTS(a) 10,830 677 2,522 14,029
Accumulated depreciation, depletion and amortization (2,299) (484) (1,213) (3,996)
---------- ---------- ---------- ----------
NET CAPITALIZED COSTS $ 8,531 $ 193 $ 1,309 $ 10,033
========================================================== ========== ========== ========== ==========
DECEMBER 31, 1999
Proved properties $ 4,884 $ 1,580 $ 2,141 $ 8,605
Unproved properties(d) 2,136 25 45 2,206
---------- ---------- ---------- ----------
TOTAL PROPERTY COSTS 7,020 1,605 2,186 10,811
Support facilities 23 94 72 189
---------- ---------- ---------- ----------
TOTAL CAPITALIZED COSTS(a) 7,043 1,699 2,258 11,000
Accumulated depreciation, depletion and amortization (2,103) (1,500) (1,006) (4,609)
---------- ---------- ---------- ----------
NET CAPITALIZED COSTS $ 4,940 $ 199 $ 1,252 $ 6,391
========== ========== ========== ==========
Share of equity investees' net capitalized costs(b) $ 94 $ 337 (c) $ 94 $ 525
========================================================== ========== ========== ========== ==========
(a) Includes costs related to leases, exploration costs, lease and well
equipment, pipelines and terminals, gas plants and other equipment.
(b) Excludes amounts applicable to synthetic fuels.
(c) Includes amounts in Latin America and Canada.
(d) Primarily consists of California properties.
65
Costs incurred relating to oil and gas producing activities, whether
capitalized or expensed, were as follows (in millions):
United Latin Eastern Total
States America Hemisphere Worldwide
============================================== ========== ========== ========== ==========
DECEMBER 31, 2001
Acquisition of properties
Proved $ 7 $ -- $ 19 $ 26
Unproved 46 -- 10 56
Exploration costs 57 60 54 171
Development costs 602 (c) 56 260 918
---------- ---------- ---------- ----------
$ 712 $ 116 $ 343 $ 1,171
============================================== ========== ========== ========== ==========
DECEMBER 31, 2000
Acquisition of properties
Proved $ 3,690 $ 42 $ 21 $ 3,753
Unproved 7 -- 1 8
Exploration costs 56 58 20 134
Development costs 339 (a,c) 32 208 579
---------- ---------- ---------- ----------
$ 4,092 $ 132 $ 250 $ 4,474
============================================== ========== ========== ========== ==========
DECEMBER 31, 1999
Acquisition of properties
Proved $ 26 $ -- $ 22 $ 48
Unproved 16 -- 2 18
Exploration costs 66 11 26 103
Development costs 126 12 164 302
---------- ---------- ---------- ----------
$ 234 $ 23 $ 214 $ 471
========== ========== ========== ==========
Share of equity investees' costs $ 18 $ 39 (b) $ 45 $ 102
============================================== ========== ========== ========== ==========
(a) Excludes costs related to the acquisition of CO2 properties.
(b) Includes amounts in Latin America and Canada.
(c) Excludes capitalized CO2 of $48 million in 2001 and $44 million in 2000.
66
The results of operations of Occidental's oil and gas producing activities,
which exclude oil and gas trading activities and items such as asset
dispositions, corporate overhead and interest, were as follows (in millions):
United Latin Eastern Total
States America (a) Hemisphere Worldwide
========================================================== ========== ========== ========== ==========
FOR THE YEAR ENDED DECEMBER 31, 2001
Revenues $ 3,471 $ 225 $ 1,323 (b) $ 5,019
Production costs 773 63 195 1,031