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87 87
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
SUPPLEMENTARY OIL AND GAS DATA (UNAUDITED)
The Supplementary Oil and Gas Data that follows is presented in accordance with ASC 932, Disclosures about Oil and Gas
Producing Activities, and includes (1) costs incurred, capitalized costs and results of operations relating 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.
During the three year period which ended December 31, 2014, the Corporation produced crude oil, natural gas liquids and/or
natural gas principally in the United States (U.S.), Europe (Norway, Denmark, Russia and the United Kingdom), Africa (Equatorial
Guinea, Libya and Algeria) and Asia and Other (the Joint Development Area of Malaysia/Thailand, Malaysia, Thailand, Azerbaijan
and Indonesia). Exploration activities were also conducted, or are planned, in certain of these areas as well as additional countries.
See Note 3, Dispositions in Notes to Consolidated Financial Statements.
Costs Incurred in Oil and Gas Producing Activities
Total
United
States
Europe
(c)
Africa
Asia and
Other
For the Years Ended December 31
(In millions)
2014
Property acquisitions
Unproved ...................................................................................... $ 88 $ 21 $ — $ — $ 67
Proved .......................................................................................... — — — — —
Exploration (a) .................................................................................. 763 354 16 113 280
Production and development capital expenditures (b) ...................... 5,028 3,292 778 319 639
2013
Property acquisitions
Unproved ...................................................................................... $ 56 $ 55 $ — $ — $ 1
Proved .......................................................................................... — — — — —
Exploration (a) .................................................................................. 1,044 592 98 119 235
Production and development capital expenditures (b) ...................... 5,666 3,259 1,008 586 813
2012
Property acquisitions
Unproved ...................................................................................... $ 267 $ 179 $ 78 $ — $ 10
Proved .......................................................................................... — — — — —
Exploration (a) .................................................................................. 1,089 405 89 260 335
Production and development capital expenditures (b) ...................... 7,505 4,236 1,792 506 971
(a) Includes $283 million, $560 million and $319 million of exploration costs incurred for unconventional assets in 2014, 2013 and 2012, respectively.
(b) Includes $326 million, $615 million and $715 million in 2014, 2013 and 2012, respectively, related to the accruals and revisions for asset retirement obligations.
(c) Costs incurred in oil and gas producing activities in Norway, were as follows for the years ended December 31:
2014 2013 2012
(In millions)
P
roperty Acquisitions ...............................................................................................................................................
.
$ —
$ — $ —
E
xploration ...............................................................................................................................................................
.
—
6 —
P
roduction and development capital expenditures* ................................................................................................
.
525
781 1,081
Includes accruals and revisions for asset retirement obligations.
Capitalized Costs Relating to Oil and Gas Producing Activities
At December 31,
2014 2013
(In millions)
Unproved properties ........................................................................................................... ..............................
$ 1,468 $ 2,460
Proved properties .............................................................................................................................................
4,211 4,121
Wells, equipment and related facilities ............................................................................................................
40,649 37,274
Total costs ................................................................................................................................................... 46,328 43,855
Less: Reserve for depreciation, depletion, amortization and lease impairment ............................................... 18,927 16,298
Net capitalized costs ......................................................................................................... ........................... $ 27,401 $ 27,557