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CHEVRON CORPORATION 2005 ANNUAL REPORT 99
TABLE V – RESERVE QUANTITY INFORMATION – Continued
increase in Africa related to properties in Nigeria, for which
changes were associated with well performance reviews,
development drilling and lease fuel calculations. The 236
BCF addition in the Asia-Pacifi c region was related primarily
to reservoir analysis for a single fi eld. Most of the 325 BCF
in the “Other” international area is related to a new gas sales
contract in Trinidad and Tobago. In the United States, the
net 391 BCF downward revision in the Gulf of Mexico was
related to well-performance reviews and technical analyses
in several fi elds. Most of the net 316 BCF negative revision
in the “Other” U.S. area related to two coal bed methane
fi elds in the Mid-Continent region and their associated wells’
performance. The 963 BCF increase for TCO was connected
with updated analyses of reservoir performance and process-
ing plant yields.
In 2005, reserves were revised downward by 14 BCF for
consolidated companies and 498 BCF for equity affi liates.
For consolidated companies, negative revisions were 428 BCF
in the Asia-Pacifi c region. Most of the decrease was attribut-
able to one fi eld in Kazakhstan, due mainly to the effects of
higher year-end prices on variable-royalty provisions of the
production-sharing contract. Reserves additions for consoli-
dated companies totaled 211 BCF and 243 BCF in Africa
and “Other,” respectively. The majority of the African region
changes were in Angola, due to a revised forecast of fuel gas
usage, and in Nigeria from improved reservoir performance.
The availability of third-party compression in Colombia
accounted for most of the increase in the “Other” region.
Revisions in the United States decreased reserves by 9 BCF, as
nominal increases in the San Joaquin Valley were more than
offset by decreases in the Gulf of Mexico and “Other” region.
For the TCO affi liate in Kazakhstan, a reduction of 547 BCF
refl ects the updated forecast of future royalties payable and
year-end price effects, partially offset by volumes added as a
result of an updated assessment of reservoir performance.
Extensions and Discoveries In 2003, extensions and
discoveries accounted for an increase of 526 BCF for con-
solidated companies, refl ecting a 388 BCF increase in the
United States, with 270 BCF added in the Gulf of Mexico
and 118 BCF in the “Other” region. The Gulf of Mexico
increase includes discoveries in several offshore Louisiana
fi elds, with a large number of fi elds in Texas, Louisiana and
other states accounting for the increase in “Other.”
In 2004, extensions and discoveries accounted for an
increase of 214 BCF, refl ecting an increase in the United
States of 144 BCF, with 89 BCF added in the “Other” region
and 54 BCF added in the Gulf of Mexico through drilling
activities in a large number of fi elds.
In 2005, consolidated companies increased reserves
by 370 BCF, including 167 BCF in the United States and
118 BCF in the Asia-Pacifi c region. In the United States,
99 BCF was added in the “Other” region and 68 BCF in the
Gulf of Mexico, primarily due to drilling activities. The addi-
tion in Asia-Pacifi c resulted primarily from increased drilling
in Kazakhstan.
Purchases In 2005, all except 7 BCF of the 5,656 BCF
total purchases were associated with the Unocal acquisition.
International reserve acquisitions were 4,488 BCF, with
Thailand accounting for about half the volumes. Other sig-
nifi cant volumes were added in Bangladesh and Myanmar.
Sales In 2004, sales for consolidated companies totaled
547 BCF. Of this total, 436 BCF was in the United States
and 111 BCF in the “Other” international region. In the
United States, “Other” region sales accounted for 289 BCF,
refl ecting the disposal of a large number of smaller proper-
ties, including a coal bed methane fi eld. Gulf of Mexico sales
of 147 BCF refl ected the sale of Shelf properties, with four
fi elds accounting for more than one-third of the total sales.
Sales in the “Other” international region refl ected the dis-
position of the properties in western Canada and the United
Kingdom.
In 2005, sales of 248 BCF in the “Other” international
region related to the disposition of former-Unocal’s onshore
properties in Canada.