Dominion Power 2000 Annual Report Download - page 67

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65
Company-Owned Reserves
Estimated net quantities of proved gas and oil (including conden-
sate) reserves in the United States and Canada at December 31,
1998 through 2000, and changes in the reserves during those years,
are shown in the two schedules which follow.
2000 1999 1998
(billion cubic feet) Total United States Canada Total United States Canada Total United States Canada
Proved developed and undeveloped
reserves
—
Gas
At January 1 1,114 600 514 591 473 118 447 447
Changes in reserves:
Extensions, discoveries and other additions 274 232 42 156 94 62 66 57 9
Revisions of previous estimates (89) (59) (30) (18) 25 (43) 17 17
Production (269) (222) (47) (97) (60) (37) (63) (50) (13)
Purchases of gas in place 1,322 1,322 512 98 414 129 6 123
Sales of gas in place (15) (15) (30) (30) (5) (4) (1)
At December 31 2,337 1,858 479 1,114 600 514 591 473 118
Proved developed reserves
—
Gas
At January 1 1,005 600 405 591 473 118 447 447
At December 31 1,954 1,593 361 1,005 600 405 591 473 118
2000 1999 1998
(thousands of barrels) Total United States Canada Total United States Canada Total United States Canada
Proved developed and undeveloped
reserves
—
Oil
At January 1
Changes in reserves: 20,808 659 20,149 4,204 2,661 1,543 2,349 2,349
Extensions, discoveries and
other additions 14,213 12,813 1,400 2,051 118 1,933 966 925 41
Revisions of previous estimates (5,082) (2,443) (2,639) 8,339 (552) 8,891 140 140
Production (7,694) (6,436) (1,258) (2,057) (595) (1,462) (1,025) (751) (274)
Purchases of oil in place 54,977 48,359 6,618 9,244 9,244 1,897 1,897
Sales of oil in place (1,880) (1,880) (973) (973) (123) (2) (121)
At December 31 75,342 51,072 24,270 20,808 659 20,149 4,204 2,661 1,543
Proved developed reserves
—
Oil
At January 1 6,102 659 5,443 4,204 2,661 1,543 2,349 2,349
At December 31 36,236 21,709 14,527 6,102 659 5,443 4,204 2,661 1,543
Standardized Measure of Discounted Future Net Cash Flows and Changes Therein
The following tabulation has been prepared in accordance with the FASB’s rules for disclosure of a standardized measure of discounted
future net cash flows relating to Company-owned proved gas and oil reserve quantities.
(millions) Year ended December 31, 2000 1999 1998
Total United States Canada Total United States Canada Total United States Canada
Future cash inflows $22,762 $18,277 $4,485 $2,401 $1,282 $1,119 $1,311 $1,102 $209
Less:
Future development and production costs 2,558 1,945 613 1,097 497 600 485 381 104
Future income tax expense 7,145 5,591 1,554 209 125 84 120 137 (17)
Future cash flows 13,059 10,741 2,318 1,095 660 435 706 584 122
Less annual discount (10% a year) 5,721 4,620 1,101 546 310 236 324 280 44
Standardized measure of discounted
future net cash flows $ 7,338 $ 6,121 $1,217 $ 549 $ 350 $ 199 $ 382 $ 304 $ 78