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Reconciliation of Company Gross Reserves by Principal Product Type as of December 31, 2012
Light and Medium Oil and Natural Gas Liquids Natural Gas---------------------------------------------------------------------------- Proved plus Proved plus Proved Probable Proved Probable (Mbbl) (Mbbl) (Mmcf) (Mmcf)----------------------------------------------------------------------------December 31, 2011 21,160.1 30,492.4 41,822 63,941 Extension 1,142.7 1,403.6 1,279 1,624 Improved Recovery 4,482.4 5,792.5 7,769 10,039 Technical Revisions (883.1) (3,470.0) 403 (5,052) Discoveries - - - - Acquisitions 770.0 1,200.3 2,685 3,769 Dispositions - - - - Economic factors (158.7) (168.4) (564) (1,964) Production (1,588.8) (1,588.8) (4,136) (4,136)----------------------------------------------------------------------------December 31, 2012 24,924.6 33,661.7 49,258 68,221---------------------------------------------------------------------------- BOE(1)-------------------------------------------------- Proved Plus Proved Probable (MBOE) (MBOE)--------------------------------------------------December 31, 2011 28,130.4 41,149.2 Extension 1,355.9 1,674.3 Improved Recovery 5,777.2 7,465.7 Technical Revisions (815.9) (4,312.0) Discoveries - - Acquisitions 1,217.5 1,828.5 Dispositions - - Economic factors (252.7) (495.7) Production (2,278.1) (2,278.1)--------------------------------------------------December 31, 2012 33,134.3 45,031.9--------------------------------------------------
Summary of Net Present Values of Future Net Revenue as of December 31, 2012
Net Present Value Before Income Taxes Discounted at (% per Year)($ Millions) 0% 5% 10%----------------------------------------------------------------------------Reserve Category:----------------------------------------------------------------------------PROVED Developed Producing 841,883 542,926 406,536 Developed Non-Producing 26,822 16,496 11,488 Undeveloped 393,061 191,499 96,203----------------------------------------------------------------------------TOTAL PROVED 1,261,766 750,921 514,227PROBABLE 614,596 235,981 118,681----------------------------------------------------------------------------TOTAL PROVED PLUS PROBABLE 1,876,362 986,902 632,909----------------------------------------------------------------------------
