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Supplemental Information on Oil and Gas Producing Activities - Unaudited
Table V Reserve Quantity Information
Summary of Net Oil and Gas Reserves
2014 2013 2012
Liquids in Millions of Barrels
Natural Gas in Billions of Cubic Feet
Crude Oil
Condensate
NGLs
Synthetic
Oil
Natural
Gas
Crude Oil
Condensate
NGLs
Synthetic
Oil
Natural
Gas
Crude Oil
Condensate
NGLs
Synthetic
Oil
Natural
Gas
Proved Developed
Consolidated Companies
U.S. 955 — 2,743 976 — 2,632 1,012 — 2,574
Other Americas 103 531 739 109 403 943 91 391 1,063
Africa 701 — 1,112 763 — 1,161 782 — 1,163
Asia 584 — 4,607 601 — 4,620 643 — 4,511
Australia/Oceania 38 — 1,117 44 — 1,251 31 — 682
Europe 87 — 167 94 — 200 103 — 191
Total Consolidated 2,468 531 10,485 2,587 403 10,807 2,662 391 10,184
Affiliated Companies
TCO 961 — 1,431 884 — 1,188 977 — 1,261
Other 100 51 317 105 44 330 115 50 377
Total Consolidated and Affiliated Companies 3,529 582 12,233 3,576 447 12,325 3,754 441 11,822
Proved Undeveloped
Consolidated Companies
U.S. 477 — 1,431 354 — 1,358 347 — 1,148
Other Americas 135 3 384 134 134 357 132 122 412
Africa 320 — 1,856 341 — 1,884 348 — 1,918
Asia 168 — 1,659 191 — 2,125 194 — 2,356
Australia/Oceania 104 — 9,824 87 — 9,076 103 — 9,570
Europe 79 — 68 72 — 63 54 — 66
Total Consolidated 1,283 3 15,222 1,179 134 14,863 1,178 122 15,470
Affiliated Companies
TCO 654 — 746 784 — 1,102 755 — 1,038
Other 45 153 915 49 176 856 49 182 865
Total Consolidated and Affiliated Companies 1,982 156 16,883 2,012 310 16,821 1,982 304 17,373
Total Proved Reserves 5,511 738 29,116 5,588 757 29,146 5,736 745 29,195
Reserves Governance The company has adopted a comprehensive reserves and resource classification system modeled after
a system developed and approved by the Society of Petroleum Engineers, the World Petroleum Congress and the American
Association of Petroleum Geologists. The system classifies recoverable hydrocarbons into six categories based on their status
at the time of reporting - three deemed commercial and three potentially recoverable. Within the commercial classification
are proved reserves and two categories of unproved: probable and possible. The potentially recoverable categories are also
referred to as contingent resources. For reserves estimates to be classified as proved, they must meet all SEC and company
standards.
Proved oil and gas reserves are the estimated quantities that geoscience and engineering data demonstrate with reasonable
certainty to be economically producible in the future from known reservoirs under existing economic conditions, operating
methods and government regulations. Net proved reserves exclude royalties and interests owned by others and reflect
contractual arrangements and royalty obligations in effect at the time of the estimate.
Proved reserves are classified as either developed or undeveloped. Proved developed reserves are the quantities expected to
be recovered through existing wells with existing equipment and operating methods.
Due to the inherent uncertainties and the limited nature of reservoir data, estimates of reserves are subject to change as
additional information becomes available.
74 Chevron Corporation 2014 Annual Report