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Finding and Development Costs
Paramount's finding and development ("F&D") costs per barrel are summarized below. The total F&D capital includes costs and changes in future development costs relating to major facilities and gathering system projects.
2012 F&D Cost Including Major Facilities & Gathering ------------------------------------------------------ FDC Total F&D Reserves Costs(1) Change(1) Capital(1) Additions(2) F&D $MM $MM $MM MMBoe $/BoePROVEDTotal Company 526.0 211.2 737.1 24.5 30.14 Kaybob 362.5 223.0 585.5 21.4 27.35 Total Conventional 523.1 211.2 734.2 24.5 30.02PROVED & PROBABLETotal Company 526.0 1,871.5 2,397.4 136.8 17.53 Kaybob 362.5 378.5 740.9 45.5 16.29 Total Conventional 523.1 331.9 854.9 43.7 19.56 Oil Sands Bitumen 2.9 1,539.6 1,542.5 93.1 16.57-------------------------------------------------------------------------------------------------------------------------------------------------------- (1) The aggregate of the exploration and development costs incurred in the most recent financial year and the change during that year in estimated future development costs generally will not reflect total finding and development costs related to reserve additions for that year. (2)Refer to the oil and gas measures and definitions in the Advisories section of this document. 3-Year Average F&D -------------------------------- 3-Year 2011 2010 Average $/Boe $/Boe $/BoePROVEDTotal Company 42.29 29.10 33.15 Kaybob 27.06 19.63 26.41 Total Conventional 41.57 27.45 32.61PROVED & PROBABLETotal Company 37.58 28.50 19.63 Kaybob 21.56 16.30 17.27 Total Conventional 36.92 26.91 23.80 Oil Sands Bitumen - - 16.71------------------------------------------------------------------------------------------------------------ (1) The aggregate of the exploration and development costs incurred in the most recent financial year and the change during that year in estimated future development costs generally will not reflect total finding and development costs related to reserve additions for that year. (2)Refer to the oil and gas measures and definitions in the Advisories section of this document.
Paramount's F&D costs per barrel, excluding costs and changes in future development costs related to major facilities and gathering system projects are summarized below.
2012 F&D Cost Excluding Major Facilities & Gathering ------------------------------------------------------ FDC Total F&D Reserves Costs(1) Change(1) Capital(1) Additions(2) F&D $MM $MM $MM MMBoe $/BoePROVED Kaybob 200.7 112.7 313.4 21.4 14.64 Total Conventional 310.6 100.9 411.5 24.5 16.82PROVED & PROBABLE Kaybob 200.7 268.2 468.9 45.5 10.31 Total Conventional 310.6 221.6 532.2 43.7 12.18--------------------------------------------------------------------------------------------------------------------------------------------------------(1) The aggregate of the exploration and development costs incurred in the most recent financial year and the change during that year in estimated future development costs generally will not reflect total finding and development costs related to reserve additions for that year.(2) Refer to the oil and gas measures and definitions in the Advisories section of this document. 3-Year Average F&D --------------------------- 3-Year 2011 2010 Average $/Boe $/Boe $/BoePROVED Kaybob 17.85 15.79 15.67 Total Conventional 27.70 21.04 20.39PROVED & PROBABLE Kaybob 13.57 13.18 11.14 Total Conventional 24.19 20.76 15.53--------------------------------------------------------------------------------------------------(1) The aggregate of the exploration and development costs incurred in the most recent financial year and the change during that year in estimated future development costs generally will not reflect total finding and development costs related to reserve additions for that year.(2) Refer to the oil and gas measures and definitions in the Advisories section of this document.
