Occidental Petroleum 2001 Annual Report Download - page 78

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Exploration expenses 42 81 61 184
Other operating expenses 141 4 70 215
Depreciation, depletion and amortization 535 24 188 747
---------- ---------- ---------- ----------
PRETAX INCOME 1,980 53 809 2,842
Income tax expense(c) 530 18 458 (b) 1,006
---------- ---------- ---------- ----------
RESULTS OF OPERATIONS $ 1,450 $ 35 $ 351 $ 1,836
========================================================== ========== ========== ========== ==========
FOR THE YEAR ENDED DECEMBER 31, 2000
Revenues $ 2,762 $ 461 $ 1,567 (b) $ 4,790
Production costs 540 66 179 785
Exploration expenses 50 31 13 94
Other operating expenses 141 27 47 215
Depreciation, depletion and amortization 444 35 182 661
---------- ---------- ---------- ----------
PRETAX INCOME 1,587 302 1,146 3,035
Income tax expense(c) 366 147 538 (b) 1,051
---------- ---------- ---------- ----------
RESULTS OF OPERATIONS $ 1,221 $ 155 $ 608 $ 1,984
========================================================== ========== ========== ========== ==========
FOR THE YEAR ENDED DECEMBER 31, 1999
Revenues $ 1,011 $ 450 $ 1,042 (b) $ 2,503
Production costs 218 92 142 452
Exploration expenses 40 9 26 75
Other operating expenses 49 44 77 170
Other expense--asset write-downs -- 44 -- 44
Depreciation, depletion and amortization 290 57 207 554
---------- ---------- ---------- ----------
PRETAX INCOME 414 204 590 1,208
Income tax expense(c) 34 81 251 (b) 366
---------- ---------- ---------- ----------
RESULTS OF OPERATIONS $ 380 $ 123 $ 339 $ 842
========== ========== ========== ==========
Share of equity investees' results of operations(d) $ (1) $ (11)(e) $ 33 $ 21
========================================================== ========== ========== ========== ==========
(a) Includes amounts applicable to operating interests in which Occidental
received an agreed-upon fee per barrel of crude oil produced in 1999.
(b) Revenues and income tax expense include taxes owed by Occidental but paid
by governmental entities on its behalf.
(c) U.S. federal income taxes reflect expenses allocated for U.S. income tax
purposes only related to oil and gas activities, including allocated
interest and corporate overhead. Foreign income taxes were included in
geographic areas on the basis of operating results.
(d) Equity investee results of operations are reflected in the geographic area
in which the producing operation is located.
(e) Includes amounts in Latin America and Canada.
67
RESULTS PER UNIT OF PRODUCTION (Unaudited)
United Latin Eastern Total
States America Hemisphere Worldwide
========================================================== ========== ========== ========== ==========
FOR THE YEAR ENDED DECEMBER 31, 2001
Revenues from net production
Oil ($/bbl.) $ 22.76 $ 19.70 $ 28.83 (a) $ 24.48
========== ========== ========== ==========
Natural gas ($/Mcf) $ 6.52 $ -- $ 2.40 $ 6.25
========== ========== ========== ==========
Barrel of oil equivalent ($/bbl.)(b,c) $ 28.22 $ 19.70 $ 28.15 (a) $ 27.73
Production costs 6.28 5.73 4.15 5.70
Exploration expenses .34 7.36 1.30 1.02
Other operating expenses 1.15 .36 1.49 1.19
Depreciation, depletion and amortization 4.35 2.18 4.00 4.13
---------- ---------- ---------- ----------
PRETAX INCOME 16.10 4.07 17.21 15.69
Income tax expense 4.31 1.64 9.74 (a) 5.56
---------- ---------- ---------- ----------
RESULTS OF OPERATIONS $ 11.79 $ 2.43 $ 7.47 $ 10.13
========================================================== ========== ========== ========== ==========
FOR THE YEAR ENDED DECEMBER 31, 2000
Revenues from net production
Oil ($/bbl.) $ 27.40 $ 25.85 $ 34.06 (a) $ 29.51
========== ========== ========== ==========
Natural gas ($/Mcf) $ 3.73 $ -- $ 2.02 $ 3.61
========== ========== ========== ==========
Barrel of oil equivalent ($/bbl.)(b,c) $ 25.57 $ 25.85 $ 32.65 (a) $ 27.53
Production costs 5.00 3.67 3.73 4.51
Exploration expenses .46 1.72 .27 .54
Other operating expenses 1.31 1.50 .98 1.24
Depreciation, depletion and amortization 4.11 1.94 3.79 3.80
---------- ---------- ---------- ----------
PRETAX INCOME 14.69 17.02 23.88 17.44
Income tax expense 3.39 8.17 11.21 (a) 6.04
---------- ---------- ---------- ----------
RESULTS OF OPERATIONS $ 11.30 $ 8.85 $ 12.67 $ 11.40
========================================================== ========== ========== ========== ==========