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Supplemental Information on Oil and Gas Producing Activities - Unaudited
Table III - Results of Operations for Oil and Gas Producing Activities1, continued
Consolidated Companies Affiliated Companies
Millions of dollars U.S.
Other
Americas Africa Asia
Australia/
Oceania Europe Total TCO Other
Year Ended December 31, 2013
Revenues from net production
Sales $ 2,303 $ 1,351 $ 702 $ 9,220 $ 1,431 $ 1,345 $ 16,352 $ 8,522 $ 2,100
Transfers 14,471 1,973 14,804 9,521 984 1,701 43,454 — —
Total 16,774 3,324 15,506 18,741 2,415 3,046 59,806 8,522 2,100
Production expenses excluding taxes (4,606) (1,218) (2,099) (4,429) (193) (759) (13,304) (401) (444)
Taxes other than on income (648) (90) (149) (140) (378) (3) (1,408) (439) (704)
Proved producing properties:
Depreciation and depletion (4,039) (440) (2,747) (3,602) (342) (416) (11,586) (518) (179)
Accretion expense2(223) (22) (125) (114) (28) (79) (591) (9) (14)
Exploration expenses (555) (372) (203) (272) (161) (258) (1,821) — —
Unproved properties valuation (129) (84) (13) (141) (4) (5) (376) — (10)
Other income (expense)3242 (5) 145 (275) 89 13 209 (81) 462
Results before income taxes 6,816 1,093 10,315 9,768 1,398 1,539 30,929 7,074 1,211
Income tax expense (2,471) (289) (6,545) (4,824) (411) (1,058) (15,598) (2,122) (624)
Results of Producing Operations $ 4,345 $ 804 $ 3,770 $ 4,944 $ 987 $ 481 $ 15,331 $ 4,952 $ 587
1The value of owned production consumed in operations as fuel has been eliminated from revenues and production expenses, and the related volumes have been deducted from
net production in calculating the unit average sales price and production cost. This has no effect on the results of producing operations.
2Represents accretion of ARO liability. Refer to Note 25, “Asset Retirement Obligations,” on page 67.
3Includes foreign currency gains and losses, gains and losses on property dispositions, and other miscellaneous income and expenses.
Table IV - Results of Operations for Oil and Gas Producing Activities - Unit Prices and Costs1
Consolidated Companies Affiliated Companies
U.S.
Other
Americas3Africa Asia
Australia/
Oceania Europe Total TCO Other
Year Ended December 31, 2015
Average sales prices
Liquids, per barrel $ 42.70 $ 49.66 $ 49.88 $ 46.19 $ 49.96 $ 48.53 $ 46.26 $ 38.71 $ 34.92
Natural gas, per thousand cubic feet 1.89 3.24 1.84 4.94 6.17 5.28 3.96 1.57 2.51
Average production costs, per barrel216.60 20.45 12.23 13.55 5.03 17.14 14.60 4.32 17.44
Year Ended December 31, 2014
Average sales prices
Liquids, per barrel $ 84.13 $ 86.23 $ 96.43 $ 89.44 $ 95.17 $ 95.05 $ 89.44 $ 81.07 $ 76.07
Natural gas, per thousand cubic feet 3.90 3.25 1.53 5.86 10.42 9.29 5.44 1.53 6.38
Average production costs, per barrel220.09 22.77 13.77 17.21 5.53 27.14 17.69 4.47 29.30
Year Ended December 31, 2013
Average sales prices
Liquids, per barrel $ 93.46 $ 91.44 $ 107.22 $ 98.37 $ 103.28 $ 105.78 $ 99.05 $ 88.06 $ 78.87
Natural gas, per thousand cubic feet 3.38 3.03 1.76 6.02 10.61 11.04 5.45 1.50 4.00
Average production costs, per barrel219.57 21.29 13.93 16.49 5.90 22.87 17.10 4.37 22.69
1The value of owned production consumed in operations as fuel has been eliminated from revenues and production expenses, and the related volumes have been deducted from
net production in calculating the unit average sales price and production cost. This has no effect on the results of producing operations.
2Natural gas converted to oil-equivalent gas (OEG) barrels at a rate of 6 MCF = 1 OEG barrel.
32013 and 2014 conformed to 2015 presentation.
Chevron Corporation 2015 Annual Report 73