Occidental Petroleum 2012 Annual Report Download - page 82
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RESULTS PER UNIT OF PRODUCTION FOR CONTINUING OPERATIONS
United
Latin Middle East/
States
America
North Africa
Total
Revenue from each barrel of oil equivalent ($/bbl.) (a,b)
Production costs
Other operating expenses
Depreciation, depletion and amortization
Taxes other than on income
Asset impairments and related items
Exploration expenses
Income tax expense (c)
Revenue from each barrel of oil equivalent ($/bbl.) (a,b)
$63.56
$94.19 $74.58
$68.99
Production costs
14.96
14.56 9.29
12.84
Other operating expenses
3.74
3.13 2.20
3.14
Depreciation, depletion and amortization
11.22
7.62 12.34
11.48
Taxes other than on income
3.63
1.95 —
2.21
Exploration expenses
1.28
0.17 0.57
0.97
28.73
66.76 50.18
38.35
Income tax expense (c)
9.08
22.85 21.70
14.36
$19.65
$43.91 $28.48
$23.99
Revenue from each barrel of oil equivalent ($/bbl.) (a,b)
$54.14
$73.31 $54.49
$55.35
Production costs
12.55
11.70 6.77
10.19
Other operating expenses
3.09
1.05 2.02
2.55
Depreciation, depletion and amortization
10.09
8.55 10.99
10.37
Taxes other than on income
3.24
1.26 —
1.83
Asset impairments and related items
1.96
—
—
1.07
Exploration expenses
1.13
0.49 0.94
1.02
22.08
50.26 33.77
28.32
Income tax expense (c)
6.64
15.91 16.37
11.05
$15.44
$34.35 (d,e) $17.40
$17.27
(a) Natural gas volumes have been converted to BOE based on energy content of six thousand cubic feet (Mcf) of gas to one barrel of oil. Barrels of oil equivalence does not necessarily result in
price equivalence. The price of natural gas on a barrel of oil equivalent basis is currently substantially lower than the corresponding price for oil and has been similarly lower over the
recent past. For example, in 2012, the average prices of WTI oil and NYMEX natural gas were $94.21 per barrel and $2.81 per Mcf, respectively, resulting in an oil to gas ratio of over 30.
(b) Revenues are net of royalty payments.
(c) United States federal income taxes reflect certain expenses related to oil and gas activities allocated for United States income tax purposes only, including allocated interest and corporate
overhead.
(d) Includes the noncontrolling interest in a Colombian subsidiary for 2010.
(e) Excludes amounts from the Argentine operations sold in February 2011 and classified as discontinued operations.
STANDARDIZED MEASURE, INCLUDING YEAR-TO-YEAR CHANGES THEREIN, OF DISCOUNTED FUTURE NET CASH
FLOWS