Occidental Petroleum 2008 Annual Report Download - page 91

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Gas Reserves
In billions of cubic feet
Consolidated Subsidiaries
United
States
Latin
America
Middle East/
North Africa Total
Other
Interests
PROVED DEVELOPED AND UNDEVELOPED
RESERVES
Balance at December 31, 2005 2,323 — 1,051 (a) 3,374 —
Revisions of previous estimates (135)45 59 (31)8
Improved recovery 120 — 7 127 —
Extensions and discoveries 58 — — 58 —
Purchases of proved reserves 274 161 — 435 —
Sales of proved reserves (2)— — (2)—
Production (214)(12)(11)(237)(8)
Balance at December 31, 2006 2,424 194 1,106 (a) 3,724 —
Revisions of previous estimates 35 5 (130)(90)—
Improved recovery 406 5 6 417 —
Extensions and discoveries 5 19 11 35 —
Purchases of proved reserves 18 — — 18 —
Sales of proved reserves — — — — —
Production (216)(15)(30)(261)—
Balance at December 31, 2007 2,672 208 963 (a) 3,843 —
Revisions of previous estimates (490)(26)328 (188) —
Improved recovery 281 46 21 348 —
Extensions and discoveries 76 — — 76 —
Purchases of proved reserves 832 — — 832 —
Sales of proved reserves (3) — — (3) —
Production (215)(16)(76)(307) —
Balance at December 31, 2008 3,153 212 1,236 4,601 —
PROVED DEVELOPED RESERVES (b)
December 31, 2005 1,833 — 73 1,906 —
December 31, 2006 1,940 137 560 2,637 —
December 31, 2007 1,997 140 932 3,069 —
December 31, 2008 1,866 142 1,206 3,214 —
(a) All Middle East/North Africa amounts are related to PSCs, and do not include amounts related to income taxes owed by Occidental but paid by governmental
entities on its behalf.
(b) Approximately three percent of the proved developed reserves at December 31, 2008 are nonproducing. The substantial majority of these volumes are located in
the United States.
77
STANDARDIZED MEASURE, INCLUDING YEAR-TO-YEAR CHANGES THEREIN, OF DISCOUNTED FUTURE NET CASH