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Table V Reserve Quantity Information – Continued
In 2011, net revisions increased reserves 415 BCF for
consolidated companies and increased reserves 82 BCF
for aliated companies. For consolidated companies,
improved reservoir performance accounted for a majority
of the 217 BCF increase in the United States. In Asia, a net
increase of 196 BCF was driven by development drilling and
improved eld performance in ailand, partially oset by
the eects of higher prices on production-sharing contracts
in Kazakhstan. In Other Americas, a negative performance
revision in Trinidad and Tobago was partially oset by
increases in Colombia from drilling activities and the reacti-
vation of an existing eld. For aliated companies, ongoing
reservoir assessment resulted in the recognition of addi-
tional reserves related to the Angola LNG project. At TCO,
improved facility and reservoir performance was more than
oset by the price eect on royalty determination.
Extensions and Discoveries In 2009, worldwide exten-
sions and discoveries of 4,387 BCF were attributed to
consolidated companies. In Australia, the Gorgon Project
accounted for all of the 4,276 BCF additions. In Asia,
development drilling in ailand accounted for the majority
of the increase. In the United States, delineation drilling
in California accounted for the majority of the increase.
In 2011, extensions and discoveries increased consoli-
dated companies’ reserves 4,680 BCF worldwide. In
Australia, the Wheatstone Project accounted for the
4,035 BCF in additions. In Africa, the start of a new nat-
ural gas development project in Nigeria resulted in the
290 BCF increase. In the United States, development
drilling accounted for the majority of the 287 BCF
increase.
Purchases In 2011, purchases increased worldwide
reserves 1,233 BCF. In the United States, acquisitions in
the Marcellus Shale increased reserves 1,230 BCF.
Sales In 2009, worldwide sales of 117 BCF were
related to consolidated companies. For Other Americas, the
sale of properties in Argentina accounted for 84 BCF. e
sale of properties in the Gulf of Mexico accounted for the
majority of the 33 BCF decrease in the United States.
In 2011, sales decreased consolidated companies’
reserves 174 BCF worldwide. In Australia, the Wheatstone
Project unitization and equity sales agreements reduced
reserves 77 BCF. In the United States, sales in Alaska and
other smaller elds reduced reserves 95 BCF.
82 Chevron Corporation 2011 Annual Report