Hess 2000 Annual Report Download - page 49

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47
Costs Incurred in Oil and Gas Producing Activities
United Africa, Asia
For the Years Ended December 31 (Millions of dollars) Total States Europe and other
2000
Property acquisitions $118 $ 22 $ 8 $ 88
Exploration 252 119 49 84
Development 536 155 321 60
Share of equity investee’s costs incurred 49 — 9 40
1999
Property acquisitions $24 $ 7 $ — $17
Exploration 232 72 76 84
Development 626 137 451 38
Share of equity investee’s costs incurred 38 —1127
1998
Property acquisitions $ 203 $ 41 $ 7 $155
Exploration 319 106 145 68
Development 915 182 650 83
Share of equity investee’s costs incurred 70 —1357
Capitalized Costs Relating to Oil and Gas Producing Activities
At December 31 (Millions of dollars) 2000 1999
Unproved properties $ 321 $ 369
Proved properties 1,736 1,551
Wells, equipment and related facilities 8,442 8,054
Total costs 10,499 9,974
Less: Reserve for depreciation, depletion, amortization and lease impairment 7,006 6,464
Net capitalized costs $ 3,493 $3,510
Share of equity investee’s capitalized costs $ 196 $ 233
The supplementary oil and gas data that follows is
presented in accordance with Statement of Financial
Accounting Standards (FAS) No. 69, Disclosures about
Oil and Gas Producing Activities, and includes (1) costs
incurred, capitalized costs and results of operations relat-
ing to oil and gas producing activities, (2) net proved oil
and gas reserves, and (3) a standardized measure of
discounted future net cash flows relating to proved oil and
gas reserves, including a reconciliation of changes therein.
The Corporation produces crude oil and/or natural gas
in the United States, Europe, Gabon, Indonesia, Thailand,
Azerbaijan and Algeria. Exploration activities are also
conducted, or are planned, in additional countries.
The Corporation also owns a 25% interest in an oil and
gas exploration company that it accounts for on the
equity method.
SUPPLEMENTARY OIL AND GAS DATA
Amerada Hess Corporation and Consolidated Subsidiaries