Dominion Power 2005 Annual Report Download - page 95

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Company-Owned Reserves
Estimated net quantities of proved gas and oil (including condensate) reserves in the United States and Canada at December 31, 2005,
2004 and 2003, and changes in the reserves during those years, are shown in the two schedules that follow:
2005 2004 2003
United United United
Total States Canada Total States Canada Total States Canada
(billion cubic feet)
Proved developed and undeveloped
reserves
—
Gas
At January 1 4,910 4,814 96 5,161 4,718 443 4,885 4,387 498
Changes in reserves:
Extensions, discoveries and other additions 299 276 23 387 342 45 810 767 43
Revisions of previous estimates(1) 73 71 2 2 141 (139) (152) (94) (58)
Production (290) (275) (15) (348) (312) (36) (375) (335) (40)
Purchases of gas in place 55 55
—
10 10
—
133 133
—
Sales of gas in place (85) (85)
—
(302) (85) (217) (140) (140)
—
At December 31 4,962 4,856 106 4,910 4,814 96 5,161 4,718 443
Proved developed reserves
—
Gas
At January 1 3,685 3,591 94 3,834 3,474 360 3,865 3,479 386
At December 31 3,706 3,605 101 3,685 3,591 94 3,834 3,474 360
Proved developed and undeveloped
reserves
—
Oil
(thousands of barrels)
At January 1 164,062 144,007 20,055 204,509 149,707 54,802 204,650 150,577 54,073
Changes in reserves:
Extensions, discoveries and other additions 6,681 5,399 1,282 11,615 7,699 3,916 15,114 7,887 7,227
Revisions of previous estimates(2) 63,884 65,264 (1,380) (22,925) (1,989) (20,936) 1,489 5,348 (3,859)
Production (15,575) (14,714) (861) (13,783) (11,258) (2,525) (12,251) (9,612) (2,639)
Purchases of oil in place 69 69
—
666 666
—
380 380
—
Sales of oil in place (1,423) (1,423)
—
(16,020) (818) (15,202) (4,873) (4,873)
—
At December 31 217,698 198,602 19,096 164,062 144,007 20,055 204,509 149,707 54,802
Proved developed reserves
—
Oil
At January 1 113,992 102,152 11,840 88,379 55,530 32,849 94,205 59,484 34,721
At December 31 152,889 145,735 7,154 113,992 102,152 11,840 88,379 55,530 32,849
(1) Approximately 135 bcf of the 2004 Canadian reserve revisions pertained to properties sold in 2004 and resulted from performance-based reserve reclassifications from proved undeveloped
to unproved.
(2) The 2005 U.S. revision is primarily due to an increase in plant liquids that resulted from a contractual change for a portion of our gas processed by third parties. We now take title to and market the
natural gas liquids extracted from this gas. Approximately 17 million barrels of the 2004 Canadian reserve revisions pertained to properties sold in 2004 and resulted from performance-based reserve
re-determinations on two British Columbia enhanced oil recovery projects.
Dominion 2005 93