Chevron 2007 Annual Report Download - page 90

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In accordance with Statement of FAS 69, Disclosures About
Oil and Gas Producing Activities, this section provides supple-
mental information on oil and gas exploration and producing
activities of the company in seven separate tables. Tables I
through IV provide historical cost information pertaining
to costs incurred in exploration, property acquisitions and
development; capitalized costs; and results of operations.
Tables V through VII present information on the company’s
estimated net proved reserve quantities, standardized measure
of estimated discounted future net cash flows related to
proved reserves, and changes in estimated discounted future
net cash flows. The Africa geographic area includes activities
principally in Nigeria, Angola, Chad, Republic of the Congo
and Democratic Republic of the Congo. The Asia-Pacific
Table I – Costs Incurred in Exploration, Property Acquisitions and Development1
Consolidated Companies
United States International
Gulf of Total Asia- Total Affiliated Companies
Millions of dollars Calif. Mexico Other U.S. Africa Pacific Indonesia Other Int’l. Total TCO Other
Year Ended Dec. 31, 2007
Exploration
Wells $ 4 $ 430 $ 18 $ 452 $ 202 $ 156 $ 3 $ 195 $ 556 $ 1,008 $ – $ 7
Geological and geophysical – 59 14 73 136 48 11 98 293 366 – –
Rentals and other – 128 5 133 70 120 50 79 319 452 – –
Total exploration 4 617 37 658 408 324 64 372 1,168 1,826 – 7
Property acquisitions2
Proved 10 220 13 243 5 92 – (2) 95 338 – –
Unproved 35 75 3 113 8 35 – 24 67 180 – –
Total property acquisitions 45 295 16 356 13 127 – 22 162 518 – –
Development3 1,198 2,237 1,775 5,210 4,176 1,897 620 1,504 8,197 13,407 832 64
Total Costs Incurred $ 1,247 $ 3,149 $ 1,828 $ 6,224 $ 4,597 $ 2,348 $ 684 $ 1,898 $ 9,527 $ 15,751 $ 832 $ 71
Year Ended Dec. 31, 2006
Exploration
Wells $ – $ 493 $ 22 $ 515 $ 151 $ 121 $ 20 $ 246 $ 538 $ 1,053 $ 25 $ –
Geological and geophysical – 96 8 104 180 53 12 92 337 441 – –
Rentals and other – 116 16 132 48 140 58 50 296 428 – –
Total exploration – 705 46 751 379 314 90 388 1,171 1,922 25 –
Property acquisitions2
Proved 6 152 – 158 1 10 – 15 26 184 – 581
Unproved 1 47 10 58 – 1 – 135 136 194 – –
Total property acquisitions 7 199 10 216 1 11 – 150 162 378 – 581
Development3 686 1,632 868 3,186 2,890 1,788 460 1,019 6,157 9,343 671 25
Total Costs Incurred $ 693 $ 2,536 $ 924 $ 4,153 $ 3,270 $ 2,113 $ 550 $ 1,557 $ 7,490 $ 11,643 $ 696 $ 606
Year Ended Dec. 31, 2005
Exploration
Wells $ – $ 452 $ 24 $ 476 $ 105 $ 38 $ 9 $ 201 $ 353 $ 829 $ – $ –
Geological and geophysical – 67 – 67 96 28 10 68 202 269 – –
Rentals and other – 93 8 101 24 58 12 72 166 267 – –
Total exploration – 612 32 644 225 124 31 341 721 1,365 – –
Property acquisitions2
Proved – Unocal – 1,608 2,388 3,996 30 6,609 637 1,790 9,066 13,062 – –
Proved – Other – 6 10 16 2 2 – 12 16 32 – –
Unproved – Unocal – 819 295 1,114 11 2,209 821 38 3,079 4,193 – –
Unproved – Other – 17 6 23 67 – – 28 95 118 – –
Total property acquisitions – 2,450 2,699 5,149 110 8,820 1,458 1,868 12,256 17,405 – –
Development3 507 680 601 1,788 1,892 1,088 382 726 4,088 5,876 767 43
Total Costs Incurred $ 507 $ 3,742 $ 3,332 $ 7,581 $ 2,227 $ 10,032 $ 1,871 $ 2,935 $ 17,065 $ 24,646 $ 767 $ 43
1 Includes costs incurred whether capitalized or expensed. Excludes general support equipment expenditures. Includes capitalized amounts related to asset retirement obligations. See Note
23, “Asset Retirement Obligations,” beginning on page 84.
2 Includes wells, equipment and facilities associated with proved reserves. Does not include properties acquired in nonmonetary transactions.
3 Includes $99, $160 and $160 costs incurred prior to assignment of proved reserves in 2007, 2006 and 2005, respectively.
Supplemental Information on Oil and Gas Producing Activities
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