Exhibit 99.2
First Quarter 2013 Detailed Supplemental Information | |||||||||||||||||||
2012 | 2013 | ||||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||||||
$ Millions, Except as Indicated | |||||||||||||||||||
CONSOLIDATED INCOME STATEMENT | |||||||||||||||||||
Revenues and Other Income | |||||||||||||||||||
Sales and other operating revenues | 14,593 | 13,664 | 14,141 | 15,569 | 57,967 | 14,166 | 14,166 | ||||||||||||
Equity in earnings of affiliates | 490 | 529 | 412 | 480 | 1,911 | 362 | 362 | ||||||||||||
Gain on dispositions | 940 | 583 | 118 | 16 | 1,657 | 58 | 58 | ||||||||||||
Other income | 60 | 66 | 42 | 301 | 469 | 65 | 65 | ||||||||||||
Total Revenues and Other Income | 16,083 | 14,842 | 14,713 | 16,366 | 62,004 | 14,651 | 14,651 | ||||||||||||
Costs and Expenses | |||||||||||||||||||
Purchased commodities | 6,078 | 5,721 | 6,357 | 7,076 | 25,232 | 5,834 | 5,834 | ||||||||||||
Production and operating expenses | 1,559 | 1,802 | 1,637 | 1,795 | 6,793 | 1,687 | 1,687 | ||||||||||||
Selling, general and administrative expenses | 326 | 235 | 329 | 216 | 1,106 | 165 | 165 | ||||||||||||
Exploration expenses | 675 | 265 | 215 | 345 | 1,500 | 277 | 277 | ||||||||||||
Depreciation, depletion and amortization | 1,571 | 1,580 | 1,650 | 1,779 | 6,580 | 1,807 | 1,807 | ||||||||||||
Impairments | 214 | 82 | - | 384 | 680 | 2 | 2 | ||||||||||||
Taxes other than income taxes | 1,095 | 900 | 673 | 878 | 3,546 | 892 | 892 | ||||||||||||
Accretion on discounted liabilities | 105 | 103 | 100 | 86 | 394 | 106 | 106 | ||||||||||||
Interest and debt expense | 190 | 197 | 161 | 161 | 709 | 130 | 130 | ||||||||||||
Foreign currency transaction (gains) losses | 5 | 12 | - | 24 | 41 | (36 | ) | (36 | ) | ||||||||||
Total Costs and Expenses | 11,818 | 10,897 | 11,122 | 12,744 | 46,581 | 10,864 | 10,864 | ||||||||||||
Income from continuing operations before income taxes | 4,265 | 3,945 | 3,591 | 3,622 | 15,423 | 3,787 | 3,787 | ||||||||||||
Provision for income taxes | 2,086 | 2,225 | 1,851 | 1,780 | 7,942 | 1,763 | 1,763 | ||||||||||||
Income from continuing operations | 2,179 | 1,720 | 1,740 | 1,842 | 7,481 | 2,024 | 2,024 | ||||||||||||
Income from discontinued operations | 776 | 569 | 73 | (401 | ) | 1,017 | 129 | 129 | |||||||||||
Net Income | 2,955 | 2,289 | 1,813 | 1,441 | 8,498 | 2,153 | 2,153 | ||||||||||||
Less: net income attributable to noncontrolling interests | (18 | ) | (22 | ) | (15 | ) | (15 | ) | (70 | ) | (14 | ) | (14 | ) | |||||
Net Income Attributable to ConocoPhillips | 2,937 | 2,267 | 1,798 | 1,426 | 8,428 | 2,139 | 2,139 | ||||||||||||
Net Income Attributable to ConocoPhillips | |||||||||||||||||||
Per Share of Common Stock (dollars) | |||||||||||||||||||
Basic | |||||||||||||||||||
Continuing operations | 1.69 | 1.36 | 1.41 | 1.49 | 5.95 | 1.64 | 1.64 | ||||||||||||
Discontinued operations | 0.60 | 0.46 | 0.06 | (0.33 | ) | 0.82 | 0.10 | 0.10 | |||||||||||
Net Income Attributable to ConocoPhillips | |||||||||||||||||||
Per Share of Common Stock | 2.29 | 1.82 | 1.47 | 1.16 | 6.77 | 1.74 | 1.74 | ||||||||||||
Diluted | |||||||||||||||||||
Continuing operations | 1.67 | 1.35 | 1.40 | 1.48 | 5.91 | 1.63 | 1.63 | ||||||||||||
Discontinued operations | 0.60 | 0.45 | 0.06 | (0.32 | ) | 0.81 | 0.10 | 0.10 | |||||||||||
Net Income Attributable to ConocoPhillips | |||||||||||||||||||
Per Share of Common Stock | 2.27 | 1.80 | 1.46 | 1.16 | 6.72 | 1.73 | 1.73 | ||||||||||||
Average Common Shares Outstanding (in thousands) | |||||||||||||||||||
Basic | 1,283,493 | 1,248,300 | 1,220,462 | 1,223,422 | 1,243,799 | 1,229,232 | 1,229,232 | ||||||||||||
Diluted | 1,293,104 | 1,258,189 | 1,229,343 | 1,231,395 | 1,253,093 | 1,235,907 | 1,235,907 | ||||||||||||
INCOME (LOSS) FROM CONTINUING | |||||||||||||||||||
OPERATIONS BEFORE INCOME TAXES | |||||||||||||||||||
Alaska | 983 | 856 | 820 | 882 | 3,541 | 842 | 842 | ||||||||||||
Lower 48 and Latin America | 426 | 207 | 250 | 279 | 1,162 | 260 | 260 | ||||||||||||
Canada | (725 | ) | (134 | ) | (39 | ) | (38 | ) | (936 | ) | (117 | ) | (117 | ) | |||||
Europe | 1,464 | 1,896 | 962 | 1,188 | 5,510 | 1,191 | 1,191 | ||||||||||||
Asia Pacific and Middle East | 2,204 | 1,090 | 1,105 | 1,175 | 5,574 | 1,393 | 1,393 | ||||||||||||
Other International | 282 | 409 | 798 | 356 | 1,845 | 401 | 401 | ||||||||||||
Corporate and Other | (369 | ) | (379 | ) | (305 | ) | (220 | ) | (1,273 | ) | (183 | ) | (183 | ) | |||||
Consolidated | 4,265 | 3,945 | 3,591 | 3,622 | 15,423 | 3,787 | 3,787 | ||||||||||||
EFFECTIVE INCOME TAX RATES FOR | |||||||||||||||||||
CONTINUING OPERATIONS | |||||||||||||||||||
Alaska* | 36.9 | % | 35.7 | % | 34.8 | % | 35.4 | % | 35.8 | % | 35.5 | % | 35.5 | % | |||||
Lower 48 and Latin America | 40.2 | % | 42.6 | % | 26.9 | % | -69.6 | % | 11.4 | % | 49.1 | % | 49.1 | % | |||||
Canada** | 24.3 | % | 29.8 | % | 19.2 | % | 73.2 | % | 26.9 | % | 213.7 | % | 213.7 | % | |||||
Europe | 73.4 | % | 64.7 | % | 86.3 | % | 74.0 | % | 72.8 | % | 63.8 | % | 63.8 | % | |||||
Asia Pacific and Middle East | 20.4 | % | 27.1 | % | 38.1 | % | 35.0 | % | 28.3 | % | 33.1 | % | 33.1 | % | |||||
Other International | 92.6 | % | 114.0 | % | 38.3 | % | 127.2 | % | 80.5 | % | 96.5 | % | 96.5 | % | |||||
Corporate and Other | 15.8 | % | 31.1 | % | 16.7 | % | 23.9 | % | 22.0 | % | 11.7 | % | 11.7 | % | |||||
Consolidated | 48.9 | % | 56.4 | % | 51.5 | % | 49.1 | % | 51.5 | % | 46.6 | % | 46.6 | % | |||||
*Alaska including taxes other than income taxes | 66.0 | % | 63.9 | % | 56.7 | % | 61.7 | % | 62.5 | % | 61.6 | % | 61.6 | % | |||||
**Canada first quarter 2013 effective tax rate excluding special items was 22.2%. |
1 of 8
2012 | 2013 | ||||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||||||
$ Millions | |||||||||||||||||||
EARNINGS BY SEGMENT | |||||||||||||||||||
Alaska | 620 | 551 | 535 | 570 | 2,276 | 543 | 543 | ||||||||||||
Lower 48 and Latin America* | 255 | 119 | 182 | 473 | 1,029 | 133 | 133 | ||||||||||||
Canada | (549 | ) | (94 | ) | (31 | ) | (10 | ) | (684 | ) | 133 | 133 | |||||||
Europe | 389 | 669 | 132 | 308 | 1,498 | 431 | 431 | ||||||||||||
Asia Pacific and Middle East | 1,738 | 772 | 669 | 749 | 3,928 | 918 | 918 | ||||||||||||
Other International | 21 | (57 | ) | 492 | (97 | ) | 359 | 14 | 14 | ||||||||||
Corporate and Other | (311 | ) | (262 | ) | (254 | ) | (166 | ) | (993 | ) | (162 | ) | (162 | ) | |||||
Discontinued Operations - Phillips 66 | 712 | 534 | 1 | (15 | ) | 1,232 | - | - | |||||||||||
Discontinued Operations - Other | 62 | 35 | 72 | (386 | ) | (217 | ) | 129 | 129 | ||||||||||
Consolidated | 2,937 | 2,267 | 1,798 | 1,426 | 8,428 | 2,139 | 2,139 | ||||||||||||
*Lower 48 only: | 234 | 104 | 145 | 262 | 745 | 105 | 105 | ||||||||||||
SPECIAL ITEMS (AFTER-TAX) | |||||||||||||||||||
Alaska | - | - | - | (25 | ) | (25 | ) | - | - | ||||||||||
Lower 48 and Latin America* | - | - | - | 316 | 316 | (60 | ) | (60 | ) | ||||||||||
Canada | (520 | ) | - | - | (42 | ) | (562 | ) | 224 | 224 | |||||||||
Europe | - | 255 | (167 | ) | (80 | ) | 8 | 83 | 83 | ||||||||||
Asia Pacific and Middle East | 937 | (17 | ) | (133 | ) | - | 787 | - | - | ||||||||||
Other International | - | - | 443 | (108 | ) | 335 | - | - | |||||||||||
Corporate and Other | (33 | ) | (40 | ) | (118 | ) | 11 | (180 | ) | 11 | 11 | ||||||||
Discontinued Operations - Phillips 66 | 712 | 534 | 1 | (15 | ) | 1,232 | - | - | |||||||||||
Discontinued Operations - Other | 62 | 35 | 72 | (386 | ) | (217 | ) | 129 | 129 | ||||||||||
Consolidated | 1,158 | 767 | 98 | (329 | ) | 1,694 | 387 | 387 | |||||||||||
*Lower 48 only: | - | - | - | 115 | 115 | (60 | ) | (60 | ) | ||||||||||
ADJUSTED EARNINGS | |||||||||||||||||||
Alaska | 620 | 551 | 535 | 595 | 2,301 | 543 | 543 | ||||||||||||
Lower 48 and Latin America* | 255 | 119 | 182 | 157 | 713 | 193 | 193 | ||||||||||||
Canada | (29 | ) | (94 | ) | (31 | ) | 32 | (122 | ) | (91 | ) | (91 | ) | ||||||
Europe | 389 | 414 | 299 | 388 | 1,490 | 348 | 348 | ||||||||||||
Asia Pacific and Middle East | 801 | 789 | 802 | 749 | 3,141 | 918 | 918 | ||||||||||||
Other International | 21 | (57 | ) | 49 | 11 | 24 | 14 | 14 | |||||||||||
Corporate and Other | (278 | ) | (222 | ) | (136 | ) | (177 | ) | (813 | ) | (173 | ) | (173 | ) | |||||
Consolidated | 1,779 | 1,500 | 1,700 | 1,755 | 6,734 | 1,752 | 1,752 | ||||||||||||
*Lower 48 only: | 234 | 104 | 145 | 147 | 630 | 165 | 165 |
2 of 8
2012 | 2013 | ||||||||||||||||||
$ Millions | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||
DETAILED SPECIAL ITEMS (AFTER-TAX) | |||||||||||||||||||
Alaska | |||||||||||||||||||
Pending claims and settlements | - | - | - | (25 | ) | (25 | ) | - | - | ||||||||||
Total | - | - | - | (25 | ) | (25 | ) | - | - | ||||||||||
Lower 48 and Latin America | |||||||||||||||||||
Gain (loss) on asset sales | - | - | - | - | - | (39 | ) | (39 | ) | ||||||||||
Impairments | - | - | - | (121 | ) | (121 | ) | - | - | ||||||||||
Tax loss carryforward realization | - | - | - | 236 | 236 | (21 | ) | (21 | ) | ||||||||||
Pending claims and settlements | - | - | - | 201 | 201 | - | - | ||||||||||||
Total | - | - | - | 316 | 316 | (60 | ) | (60 | ) | ||||||||||
Canada | |||||||||||||||||||
Gain (loss) on asset sales | - | - | - | - | - | 224 | 224 | ||||||||||||
Impairments | (520 | ) | - | - | (42 | ) | (562 | ) | - | - | |||||||||
Total | (520 | ) | - | - | (42 | ) | (562 | ) | 224 | 224 | |||||||||
Europe | |||||||||||||||||||
International tax law changes | - | - | (167 | ) | - | (167 | ) | - | - | ||||||||||
Gain (loss) on asset sales | - | 285 | - | - | 285 | 83 | 83 | ||||||||||||
Impairments | - | (30 | ) | - | (80 | ) | (110 | ) | - | - | |||||||||
Total | - | 255 | (167 | ) | (80 | ) | 8 | 83 | 83 | ||||||||||
Asia Pacific and Middle East | |||||||||||||||||||
Gain (loss) on asset sales | 937 | - | (133 | ) | - | 804 | - | - | |||||||||||
Bohai Bay incidents | - | (89 | ) | - | - | (89 | ) | - | - | ||||||||||
Deferred tax adjustment | - | 72 | - | - | 72 | - | - | ||||||||||||
Total | 937 | (17 | ) | (133 | ) | - | 787 | - | - | ||||||||||
Other International | |||||||||||||||||||
Gain (loss) on asset sales | - | - | 443 | - | 443 | - | - | ||||||||||||
Impairments | - | - | - | (108 | ) | (108 | ) | - | - | ||||||||||
Total | - | - | 443 | (108 | ) | 335 | - | - | |||||||||||
Corporate and Other | |||||||||||||||||||
Gain (loss) on asset sales | - | - | - | - | - | 11 | 11 | ||||||||||||
Separation costs | (33 | ) | (40 | ) | (7 | ) | (4 | ) | (84 | ) | - | - | |||||||
Pension settlement expense | - | - | (82 | ) | (5 | ) | (87 | ) | - | - | |||||||||
Premium on early debt retirement | - | - | (68 | ) | - | (68 | ) | - | - | ||||||||||
Pending claims and settlements | - | - | 39 | 20 | 59 | - | - | ||||||||||||
Total | (33 | ) | (40 | ) | (118 | ) | 11 | (180 | ) | 11 | 11 | ||||||||
Discontinued Operations - Phillips 66 | 712 | 534 | 1 | (15 | ) | 1,232 | - | - | |||||||||||
Discontinued Operations - Other | 62 | 35 | 72 | (386 | ) | (217 | ) | 129 | 129 | ||||||||||
Total Company | 1,158 | 767 | 98 | (329 | ) | 1,694 | 387 | 387 | |||||||||||
*Lower 48 only: | - | - | - | 115 | 115 | (60 | ) | (60 | ) |
3 of 8
2012 | 2013 | ||||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||||||
$ Millions | |||||||||||||||||||
CASH FLOW INFORMATION | |||||||||||||||||||
Cash Flows from Operating Activities | |||||||||||||||||||
Net income | 2,955 | 2,289 | 1,813 | 1,441 | 8,498 | 2,153 | 2,153 | ||||||||||||
Depreciation, depletion and amortization | 1,571 | 1,580 | 1,650 | 1,779 | 6,580 | 1,807 | 1,807 | ||||||||||||
Impairments | 214 | 82 | - | 384 | 680 | 2 | 2 | ||||||||||||
Dry hole costs and leasehold impairments | 518 | 116 | 69 | 171 | 874 | 36 | 36 | ||||||||||||
Accretion on discounted liabilities | 105 | 103 | 100 | 86 | 394 | 106 | 106 | ||||||||||||
Deferred taxes | 131 | 284 | 396 | 586 | 1,397 | 241 | 241 | ||||||||||||
Undistributed equity earnings | (77 | ) | (179 | ) | (153 | ) | (187 | ) | (596 | ) | (29 | ) | (29 | ) | |||||
Gain on dispositions | (940 | ) | (583 | ) | (118 | ) | (16 | ) | (1,657 | ) | (58 | ) | (58 | ) | |||||
Income from discontinued operations | (776 | ) | (569 | ) | (73 | ) | 401 | (1,017 | ) | (129 | ) | (129 | ) | ||||||
Other | 173 | (279 | ) | 53 | (403 | ) | (456 | ) | (503 | ) | (503 | ) | |||||||
Net working capital changes | 196 | (766 | ) | (297 | ) | (372 | ) | (1,239 | ) | 982 | 982 | ||||||||
Net cash provided by continuing operations | 4,070 | 2,078 | 3,440 | 3,870 | 13,458 | 4,608 | 4,608 | ||||||||||||
Net cash provided by (used in) discontinued operations | 112 | 272 | 80 | - | 464 | 122 | 122 | ||||||||||||
Net Cash Provided by Operating Activities | 4,182 | 2,350 | 3,520 | 3,870 | 13,922 | 4,730 | 4,730 | ||||||||||||
Cash Flows from Investing Activities | |||||||||||||||||||
Capital expenditures and investments | (3,818 | ) | (3,623 | ) | (3,279 | ) | (3,452 | ) | (14,172 | ) | (3,391 | ) | (3,391 | ) | |||||
Proceeds from asset dispositions | 1,102 | 464 | 522 | 44 | 2,132 | 1,134 | 1,134 | ||||||||||||
Net sales (purchases) of short-term investments | 92 | 505 | - | - | 597 | (23 | ) | (23 | ) | ||||||||||
Long-term collections from related parties | |||||||||||||||||||
and other investments | 45 | 23 | 207 | 660 | 935 | 36 | 36 | ||||||||||||
Net cash used in continuing operations | (2,579 | ) | (2,631 | ) | (2,550 | ) | (2,748 | ) | (10,508 | ) | (2,244 | ) | (2,244 | ) | |||||
Net cash provided by (used in) discontinued operations | (431 | ) | (284 | ) | (223 | ) | (181 | ) | (1,119 | ) | (189 | ) | (189 | ) | |||||
Net Cash Provided by (Used in) Investing Activities | (3,010 | ) | (2,915 | ) | (2,773 | ) | (2,929 | ) | (11,627 | ) | (2,433 | ) | (2,433 | ) | |||||
Cash Flows from Financing Activities | |||||||||||||||||||
Net issuance (repayment) of debt | (47 | ) | 831 | (1,967 | ) | 614 | (569 | ) | (48 | ) | (48 | ) | |||||||
Special cash distribution from Phillips 66 | - | 7,818 | - | - | 7,818 | - | - | ||||||||||||
Change in restricted cash | - | (5,000 | ) | 2,532 | 1,720 | (748 | ) | 748 | 748 | ||||||||||
Issuance of company common stock | 36 | 9 | 38 | 55 | 138 | (10 | ) | (10 | ) | ||||||||||
Repurchase of company common stock | (1,899 | ) | (3,050 | ) | (149 | ) | - | (5,098 | ) | - | - | ||||||||
Dividends paid | (843 | ) | (818 | ) | (808 | ) | (809 | ) | (3,278 | ) | (815 | ) | (815 | ) | |||||
Other | (199 | ) | (170 | ) | (178 | ) | (178 | ) | (725 | ) | (205 | ) | (205 | ) | |||||
Net cash used in continuing operations | (2,952 | ) | (380 | ) | (532 | ) | 1,402 | (2,462 | ) | (330 | ) | (330 | ) | ||||||
Net cash used in discontinued operations | (318 | ) | (1,701 | ) | - | - | (2,019 | ) | - | - | |||||||||
Net Cash Used in Financing Activities | (3,270 | ) | (2,081 | ) | (532 | ) | 1,402 | (4,481 | ) | (330 | ) | (330 | ) | ||||||
Effect of Exchange Rate Changes | 25 | (17 | ) | 9 | 7 | 24 | (163 | ) | (163 | ) | |||||||||
Net Change in Cash and Cash Equivalents | (2,073 | ) | (2,663 | ) | 224 | 2,350 | (2,162 | ) | 1,804 | 1,804 | |||||||||
Cash and cash equivalents at beginning of period | 5,780 | 3,707 | 1,044 | 1,268 | 5,780 | 3,618 | 3,618 | ||||||||||||
Cash and Cash Equivalents at End of Period | 3,707 | 1,044 | 1,268 | 3,618 | 3,618 | 5,422 | 5,422 | ||||||||||||
CAPITAL PROGRAM | |||||||||||||||||||
Capital expenditures and investments | |||||||||||||||||||
Alaska | 186 | 202 | 208 | 232 | 828 | 262 | 262 | ||||||||||||
Lower 48 and Latin America | 1,267 | 1,288 | 1,339 | 1,357 | 5,251 | 1,280 | 1,280 | ||||||||||||
Canada | 629 | 428 | 493 | 634 | 2,184 | 675 | 675 | ||||||||||||
Europe | 622 | 735 | 738 | 765 | 2,860 | 791 | 791 | ||||||||||||
Asia Pacific and Middle East | 699 | 886 | 468 | 377 | 2,430 | 337 | 337 | ||||||||||||
Other International | 354 | 34 | 11 | 16 | 415 | 19 | 19 | ||||||||||||
Corporate and Other | 61 | 50 | 22 | 71 | 204 | 27 | 27 | ||||||||||||
Total capital expenditures and investments | 3,818 | 3,623 | 3,279 | 3,452 | 14,172 | 3,391 | 3,391 | ||||||||||||
Joint venture acquisition obligation (principal) - Canada | 180 | 183 | 183 | 187 | 733 | 189 | 189 | ||||||||||||
Total Capital Program | 3,998 | 3,806 | 3,462 | 3,639 | 14,905 | 3,580 | 3,580 | ||||||||||||
Capital Program for Algeria, Nigeria and Kashagan was $189 million and $817 million for the first-quarter 2013 and full-year 2012, respectively. |
4 of 8
2012 | 2013 | ||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||
TOTAL SEGMENTS | |||||||||||||||
| |||||||||||||||
Production | |||||||||||||||
Total (MBOED) | |||||||||||||||
Continuing operations, including equity affiliates | 1,581 | 1,489 | 1,470 | 1,566 | 1,527 | 1,555 | 1,555 | ||||||||
Discontinued operations (Algeria and Nigeria) | 56 | 53 | 55 | 41 | 51 | 41 | 41 | ||||||||
Total, including equity affiliates | 1,637 | 1,542 | 1,525 | 1,607 | 1,578 | 1,596 | 1,596 | ||||||||
Crude Oil (MBD) | |||||||||||||||
Consolidated operations | 590 | 554 | 528 | 598 | 567 | 606 | 606 | ||||||||
Equity affiliates | 34 | 31 | 25 | 21 | 28 | 20 | 20 | ||||||||
Total continuing operations | 624 | 585 | 553 | 619 | 595 | 626 | 626 | ||||||||
Discontinued operations (Algeria and Nigeria) | 26 | 23 | 25 | 17 | 23 | 20 | 20 | ||||||||
Total | 650 | 608 | 578 | 636 | 618 | 646 | 646 | ||||||||
Over (under) lifting of crude oil (MBD)* | (11 | ) | 29 | 32 | 25 | 19 | (9 | ) | (9 | ) | |||||
*Includes continuing and discontinued operations. | |||||||||||||||
NGL (MBD) | |||||||||||||||
Consolidated operations | 155 | 143 | 144 | 152 | 148 | 151 | 151 | ||||||||
Equity affiliates | 8 | 7 | 7 | 8 | 8 | 8 | 8 | ||||||||
Total continuing operations | 163 | 150 | 151 | 160 | 156 | 159 | 159 | ||||||||
Discontinued operations (Nigeria) | 3 | 4 | 4 | 3 | 4 | 3 | 3 | ||||||||
Total | 166 | 154 | 155 | 163 | 160 | 162 | 162 | ||||||||
Bitumen (MBD) | |||||||||||||||
Consolidated operations | 11 | 11 | 12 | 12 | 12 | 13 | 13 | ||||||||
Equity affiliates | 73 | 77 | 80 | 94 | 81 | 96 | 96 | ||||||||
Total | 84 | 88 | 92 | 106 | 93 | 109 | 109 | ||||||||
Natural Gas (MMCFD) | |||||||||||||||
Consolidated operations | 3,756 | 3,509 | 3,588 | 3,592 | 3,611 | 3,479 | 3,479 | ||||||||
Equity affiliates | 505 | 491 | 449 | 497 | 485 | 483 | 483 | ||||||||
Total continuing operations | 4,261 | 4,000 | 4,037 | 4,089 | 4,096 | 3,962 | 3,962 | ||||||||
Discontinued operations (Nigeria) | 161 | 153 | 162 | 120 | 149 | 110 | 110 | ||||||||
Total | 4,422 | 4,153 | 4,199 | 4,209 | 4,245 | 4,072 | 4,072 | ||||||||
Industry Prices (Platt's) | |||||||||||||||
Crude Oil ($/BBL) | |||||||||||||||
WTI | 102.99 | 93.44 | 92.11 | 88.09 | 94.16 | 94.29 | 94.29 | ||||||||
WCS* | 78.50 | 79.73 | 68.47 | 71.22 | 74.48 | 61.51 | 61.51 | ||||||||
Brent dated | 118.49 | 108.19 | 109.61 | 110.02 | 111.58 | 112.55 | 112.55 | ||||||||
JCC | 111.43 | 116.70 | 121.99 | 105.85 | 113.99 | 113.74 | 113.74 | ||||||||
Natural Gas ($/MMBTU) | |||||||||||||||
Henry Hub first of month | 2.72 | 2.21 | 2.80 | 3.41 | 2.79 | 3.34 | 3.34 | ||||||||
* Quoted WCS price reflects a one-month lag. | |||||||||||||||
Average Realized Prices | |||||||||||||||
Crude Oil ($/BBL) | |||||||||||||||
Consolidated operations | 111.91 | 105.77 | 102.79 | 103.16 | 105.86 | 106.17 | 106.17 | ||||||||
Equity affiliates | 111.37 | 99.28 | 96.57 | 100.90 | 102.80 | 100.27 | 100.27 | ||||||||
Total continuing operations | 111.88 | 105.43 | 102.54 | 103.08 | 105.72 | 105.97 | 105.97 | ||||||||
Discontinued operations (Algeria and Nigeria) | 122.73 | 108.92 | 106.97 | 112.15 | 112.90 | 112.62 | 112.62 | ||||||||
Total | 112.33 | 105.56 | 102.72 | 103.33 | 105.98 | 106.20 | 106.20 | ||||||||
NGL ($/BBL) | |||||||||||||||
Consolidated operations | 53.26 | 42.77 | 40.02 | 42.38 | 44.62 | 40.87 | 40.87 | ||||||||
Equity affiliates | 88.24 | 70.28 | 62.18 | 86.97 | 77.30 | 77.32 | 77.32 | ||||||||
Total continuing operations | 55.03 | 44.36 | 41.08 | 44.93 | 46.36 | 42.95 | 42.95 | ||||||||
Discontinued operations (Nigeria) | 11.97 | 15.34 | 14.26 | 11.06 | 13.30 | 12.30 | 12.30 | ||||||||
Total | 54.11 | 43.55 | 40.39 | 44.15 | 45.55 | 42.41 | 42.41 | ||||||||
Bitumen ($/BBL) | |||||||||||||||
Consolidated operations | 64.95 | 54.75 | 56.23 | 55.29 | 57.58 | 36.78 | 36.78 | ||||||||
Equity affiliates | 60.04 | 50.85 | 56.95 | 47.43 | 53.39 | 39.52 | 39.52 | ||||||||
Total | 60.66 | 51.38 | 56.86 | 48.32 | 53.91 | 39.23 | 39.23 | ||||||||
Natural Gas ($/MCF) | |||||||||||||||
Consolidated operations | 5.20 | 4.72 | 4.86 | 5.50 | 5.07 | 5.32 | 5.32 | ||||||||
Equity affiliates | 8.62 | 8.98 | 8.66 | 7.90 | 8.54 | 9.36 | 9.36 | ||||||||
Total continuing operations | 5.61 | 5.25 | 5.28 | 5.79 | 5.48 | 5.84 | 5.84 | ||||||||
Discontinued operations (Nigeria) | 2.53 | 2.51 | 2.84 | 2.32 | 2.57 | 2.54 | 2.54 | ||||||||
Total | 5.49 | 5.14 | 5.18 | 5.69 | 5.38 | 5.74 | 5.74 | ||||||||
Exploration Expenses ($ Millions) | |||||||||||||||
Dry holes | 6 | 64 | 6 | 79 | 155 | 4 | 4 | ||||||||
Leasehold impairment | 512 | 52 | 63 | 92 | 719 | 32 | 32 | ||||||||
Total noncash expenses | 518 | 116 | 69 | 171 | 874 | 36 | 36 | ||||||||
Other (G&A, G&G and lease rentals) | 157 | 149 | 146 | 174 | 626 | 241 | 241 | ||||||||
Total exploration expenses | 675 | 265 | 215 | 345 | 1,500 | 277 | 277 | ||||||||
U.S. exploration expenses | 87 | 96 | 106 | 126 | 415 | 152 | 152 | ||||||||
International exploration expenses | 588 | 169 | 109 | 219 | 1,085 | 125 | 125 | ||||||||
DD&A ($ Millions) | |||||||||||||||
Alaska | 134 | 134 | 117 | 131 | 516 | 135 | 135 | ||||||||
Lower 48 and Latin America | 603 | 625 | 657 | 719 | 2,604 | 744 | 744 | ||||||||
Canada | 324 | 333 | 355 | 326 | 1,338 | 343 | 343 | ||||||||
Europe | 266 | 246 | 214 | 267 | 993 | 261 | 261 | ||||||||
Asia Pacific and Middle East | 211 | 210 | 274 | 303 | 998 | 293 | 293 | ||||||||
Other International | 9 | 11 | 12 | 13 | 45 | 11 | 11 | ||||||||
Corporate and Other | 24 | 21 | 21 | 20 | 86 | 20 | 20 | ||||||||
Total DD&A | 1,571 | 1,580 | 1,650 | 1,779 | 6,580 | 1,807 | 1,807 |
5 of 8
2012 | 2013 | |||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||
PRODUCTION | ||||||||||||
Crude Oil (MBD) | ||||||||||||
Consolidated operations | ||||||||||||
Alaska | 208 | 190 | 157 | 196 | 188 | 190 | 190 | |||||
Lower 48 | 117 | 115 | 124 | 136 | 123 | 148 | 148 | |||||
Canada | 13 | 14 | 14 | 13 | 13 | 14 | 14 | |||||
Norway | 112 | 103 | 97 | 103 | 104 | 100 | 100 | |||||
United Kingdom | 44 | 35 | 20 | 27 | 31 | 24 | 24 | |||||
Europe | 156 | 138 | 117 | 130 | 135 | 124 | 124 | |||||
Australia/Timor-Leste | 17 | 15 | 18 | 16 | 16 | 13 | 13 | |||||
China | 23 | 31 | 48 | 54 | 39 | 57 | 57 | |||||
Indonesia | 10 | 8 | 9 | 9 | 9 | 9 | 9 | |||||
Malaysia | - | - | - | 4 | 1 | 7 | 7 | |||||
Vietnam | 11 | - | - | - | 3 | - | - | |||||
AP/ME | 61 | 54 | 75 | 83 | 68 | 86 | 86 | |||||
Libya | 35 | 43 | 41 | 40 | 40 | 44 | 44 | |||||
Other International | 35 | 43 | 41 | 40 | 40 | 44 | 44 | |||||
Total consolidated operations | 590 | 554 | 528 | 598 | 567 | 606 | 606 | |||||
Equity affiliates | 34 | 31 | 25 | 21 | 28 | 20 | 20 | |||||
Total continuing operations | 624 | 585 | 553 | 619 | 595 | 626 | 626 | |||||
Discontinued operations (Algeria and Nigeria) | 26 | 23 | 25 | 17 | 23 | 20 | 20 | |||||
Total | 650 | 608 | 578 | 636 | 618 | 646 | 646 | |||||
NGL (MBD) | ||||||||||||
Consolidated operations | ||||||||||||
Alaska | 18 | 16 | 10 | 17 | 16 | 18 | 18 | |||||
Lower 48 | 84 | 83 | 87 | 87 | 85 | 87 | 87 | |||||
Canada | 25 | 22 | 25 | 24 | 24 | 26 | 26 | |||||
Norway | 5 | 4 | 3 | 3 | 4 | 3 | 3 | |||||
United Kingdom | 5 | 4 | 2 | 4 | 3 | 3 | 3 | |||||
Europe | 10 | 8 | 5 | 7 | 7 | 6 | 6 | |||||
Australia/Timor-Leste | 12 | 9 | 12 | 12 | 11 | 10 | 10 | |||||
Indonesia | 6 | 5 | 5 | 5 | 5 | 4 | 4 | |||||
AP/ME | 18 | 14 | 17 | 17 | 16 | 14 | 14 | |||||
Total consolidated operations | 155 | 143 | 144 | 152 | 148 | 151 | 151 | |||||
Equity affiliates | 8 | 7 | 7 | 8 | 8 | 8 | 8 | |||||
Total continuing operations | 163 | 150 | 151 | 160 | 156 | 159 | 159 | |||||
Discontinued operations (Nigeria) | 3 | 4 | 4 | 3 | 4 | 3 | 3 | |||||
Total | 166 | 154 | 155 | 163 | 160 | 162 | 162 | |||||
Bitumen (MBD) | ||||||||||||
Consolidated operations | 11 | 11 | 12 | 12 | 12 | 13 | 13 | |||||
Equity affiliates | 73 | 77 | 80 | 94 | 81 | 96 | 96 | |||||
Total | 84 | 88 | 92 | 106 | 93 | 109 | 109 | |||||
Natural Gas (MMCFD) | ||||||||||||
Consolidated operations | ||||||||||||
Alaska | 59 | 56 | 51 | 56 | 55 | 56 | 56 | |||||
Lower 48 | 1,502 | 1,456 | 1,507 | 1,508 | 1,493 | 1,441 | 1,441 | |||||
Canada | 863 | 864 | 874 | 826 | 857 | 806 | 806 | |||||
Norway | 195 | 141 | 127 | 176 | 160 | 161 | 161 | |||||
United Kingdom | 437 | 399 | 287 | 302 | 356 | 300 | 300 | |||||
Europe | 632 | 540 | 414 | 478 | 516 | 461 | 461 | |||||
Australia/Timor-Leste | 249 | 159 | 261 | 251 | 230 | 251 | 251 | |||||
China | - | 1 | 4 | 5 | 3 | 4 | 4 | |||||
Indonesia | 441 | 427 | 444 | 438 | 437 | 428 | 428 | |||||
Malaysia | - | - | - | - | - | 1 | 1 | |||||
Vietnam | 7 | - | - | - | 2 | - | - | |||||
AP/ME | 697 | 587 | 709 | 694 | 672 | 684 | 684 | |||||
Libya | 3 | 6 | 33 | 30 | 18 | 31 | 31 | |||||
Other International | 3 | 6 | 33 | 30 | 18 | 31 | 31 | |||||
Total consolidated operations | 3,756 | 3,509 | 3,588 | 3,592 | 3,611 | 3,479 | 3,479 | |||||
Equity affiliates | 505 | 491 | 449 | 497 | 485 | 483 | 483 | |||||
Total continuing operations | 4,261 | 4,000 | 4,037 | 4,089 | 4,096 | 3,962 | 3,962 | |||||
Discontinued operations (Nigeria) | 161 | 153 | 162 | 120 | 149 | 110 | 110 | |||||
Total | 4,422 | 4,153 | 4,199 | 4,209 | 4,245 | 4,072 | 4,072 | |||||
Total (MBOED) | ||||||||||||
Consolidated operations | ||||||||||||
Alaska | 236 | 215 | 176 | 222 | 213 | 218 | 218 | |||||
Lower 48 | 451 | 441 | 462 | 475 | 457 | 475 | 475 | |||||
Canada | 193 | 191 | 197 | 187 | 192 | 187 | 187 | |||||
Norway | 149 | 131 | 121 | 135 | 135 | 130 | 130 | |||||
United Kingdom | 122 | 105 | 70 | 81 | 93 | 77 | 77 | |||||
Europe | 271 | 236 | 191 | 216 | 228 | 207 | 207 | |||||
Australia/Timor-Leste | 70 | 51 | 73 | 69 | 66 | 65 | 65 | |||||
China | 23 | 31 | 49 | 55 | 40 | 58 | 58 | |||||
Indonesia | 90 | 84 | 88 | 87 | 87 | 84 | 84 | |||||
Malaysia | - | - | - | 4 | 1 | 7 | 7 | |||||
Vietnam | 12 | - | - | - | 3 | - | - | |||||
AP/ME | 195 | 166 | 210 | 215 | 197 | 214 | 214 | |||||
Libya | 36 | 43 | 47 | 45 | 43 | 49 | 49 | |||||
Other International | 36 | 43 | 47 | 45 | 43 | 49 | 49 | |||||
Total consolidated operations | 1,382 | 1,292 | 1,283 | 1,360 | 1,330 | 1,350 | 1,350 | |||||
Equity affiliates | 199 | 197 | 187 | 206 | 197 | 205 | 205 | |||||
Total continuing operations | 1,581 | 1,489 | 1,470 | 1,566 | 1,527 | 1,555 | 1,555 | |||||
Discontinued operations (Algeria and Nigeria) | 56 | 53 | 55 | 41 | 51 | 41 | 41 | |||||
Total | 1,637 | 1,542 | 1,525 | 1,607 | 1,578 | 1,596 | 1,596 |
6 of 8
2012 | 2013 | |||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||
AVERAGE REALIZED PRICES | ||||||||||||
Crude Oil ($/BBL) | ||||||||||||
Consolidated operations | ||||||||||||
Alaska | 112.20 | 112.38 | 106.53 | 106.91 | 109.62 | 110.79 | 110.79 | |||||
Lower 48 | 99.00 | 89.61 | 90.06 | 88.63 | 91.67 | 93.69 | 93.69 | |||||
Canada | 83.85 | 74.76 | 77.19 | 77.71 | 78.26 | 72.85 | 72.85 | |||||
Norway | 122.49 | 109.50 | 111.74 | 111.87 | 113.80 | 114.75 | 114.75 | |||||
United Kingdom | 116.54 | 111.55 | 104.55 | 109.54 | 110.31 | 111.07 | 111.07 | |||||
Europe | 121.25 | 109.89 | 109.67 | 111.51 | 113.08 | 114.11 | 114.11 | |||||
Australia/Timor-Leste | 113.00 | 103.53 | 105.47 | 103.31 | 106.66 | 107.76 | 107.76 | |||||
China | 122.02 | 113.71 | 107.68 | 105.01 | 109.94 | 110.91 | 110.91 | |||||
Indonesia | 109.16 | 96.96 | 91.45 | 93.95 | 98.21 | 93.32 | 93.32 | |||||
Malaysia | - | - | - | - | - | 119.87 | 119.87 | |||||
Vietnam | 126.02 | - | - | - | 126.02 | - | - | |||||
AP/ME | 117.66 | 109.12 | 105.12 | 103.34 | 108.20 | 109.35 | 109.35 | |||||
Libya | 121.68 | 109.52 | 108.00 | 109.95 | 110.75 | 112.18 | 112.18 | |||||
Other International | 121.68 | 109.52 | 108.00 | 109.95 | 110.75 | 112.18 | 112.18 | |||||
Total consolidated operations | 111.91 | 105.77 | 102.79 | 103.16 | 105.86 | 106.17 | 106.17 | |||||
Equity affiliates | 111.37 | 99.28 | 96.57 | 100.90 | 102.80 | 100.27 | 100.27 | |||||
Total continuing operations | 111.88 | 105.43 | 102.54 | 103.08 | 105.72 | 105.97 | 105.97 | |||||
Discontinued operations (Algeria and Nigeria) | 122.73 | 108.92 | 106.97 | 112.15 | 112.90 | 112.62 | 112.62 | |||||
Total | 112.33 | 105.56 | 102.72 | 103.33 | 105.98 | 106.20 | 106.20 | |||||
NGL ($/BBL) | ||||||||||||
Consolidated operations | ||||||||||||
Lower 48 | 44.90 | 34.62 | 31.40 | 31.32 | 35.45 | 29.58 | 29.58 | |||||
Canada | 54.13 | 48.66 | 45.31 | 46.28 | 48.64 | 50.15 | 50.15 | |||||
Norway | 57.56 | 53.57 | 55.56 | 72.71 | 59.22 | 59.77 | 59.77 | |||||
United Kingdom | 61.10 | 56.38 | 59.72 | 74.83 | 63.84 | 60.61 | 60.61 | |||||
Europe | 59.29 | 54.81 | 57.62 | 73.94 | 61.53 | 60.10 | 60.10 | |||||
Australia/Timor-Leste | 88.97 | 70.98 | 74.68 | 85.00 | 80.03 | 77.42 | 77.42 | |||||
Indonesia | 90.85 | 72.30 | 63.40 | 84.60 | 77.58 | 78.10 | 78.10 | |||||
AP/ME | 89.56 | 71.39 | 71.06 | 84.88 | 79.26 | 77.59 | 77.59 | |||||
Total consolidated operations | 53.26 | 42.77 | 40.02 | 42.38 | 44.62 | 40.87 | 40.87 | |||||
Equity affiliates | 88.24 | 70.28 | 62.18 | 86.97 | 77.30 | 77.32 | 77.32 | |||||
Total continuing operations | 55.03 | 44.36 | 41.08 | 44.93 | 46.36 | 42.95 | 42.95 | |||||
Discontinued operations (Nigeria) | 11.97 | 15.34 | 14.26 | 11.06 | 13.30 | 12.30 | 12.30 | |||||
Total | 54.11 | 43.55 | 40.39 | 44.15 | 45.55 | 42.41 | 42.41 | |||||
Bitumen ($/BBL) | ||||||||||||
Consolidated operations | 64.95 | 54.75 | 56.23 | 55.29 | 57.58 | 36.78 | 36.78 | |||||
Equity affiliates | 60.04 | 50.85 | 56.95 | 47.43 | 53.39 | 39.52 | 39.52 | |||||
Total | 60.66 | 51.38 | 56.86 | 48.32 | 53.91 | 39.23 | 39.23 | |||||
Natural Gas ($/MCF) | ||||||||||||
Consolidated operations | ||||||||||||
Alaska | 4.68 | 3.93 | 3.97 | 4.28 | 4.22 | 5.20 | 5.20 | |||||
Lower 48 | 2.65 | 2.10 | 2.64 | 3.24 | 2.67 | 3.19 | 3.19 | |||||
Canada | 1.98 | 1.61 | 2.05 | 2.92 | 2.13 | 2.89 | 2.89 | |||||
Norway | 10.40 | 9.58 | 8.47 | 10.26 | 9.77 | 10.69 | 10.69 | |||||
United Kingdom | 9.80 | 9.49 | 9.06 | 10.72 | 9.76 | 10.87 | 10.87 | |||||
Europe | 9.98 | 9.52 | 8.87 | 10.56 | 9.76 | 10.81 | 10.81 | |||||
Australia/Timor-Leste* | 1.10 | 1.10 | 1.18 | 1.12 | 1.12 | 1.10 | 1.10 | |||||
China | - | 2.46 | 2.44 | 2.39 | 2.41 | 2.50 | 2.50 | |||||
Indonesia | 10.37 | 12.85 | 9.94 | 10.14 | 10.80 | 11.57 | 11.57 | |||||
Vietnam | 1.15 | - | - | - | 1.15 | - | - | |||||
AP/ME | 10.40 | 11.47 | 10.64 | 10.15 | 10.63 | 10.71 | 10.71 | |||||
Libya | 0.09 | 0.09 | 6.77 | 5.19 | 5.55 | 4.86 | 4.86 | |||||
Other International | 0.09 | 0.09 | 6.77 | 5.19 | 5.55 | 4.86 | 4.86 | |||||
Total consolidated operations | 5.20 | 4.72 | 4.86 | 5.50 | 5.07 | 5.32 | 5.32 | |||||
Equity affiliates | 8.62 | 8.98 | 8.66 | 7.90 | 8.54 | 9.36 | 9.36 | |||||
Total continuing operations | 5.61 | 5.25 | 5.28 | 5.79 | 5.48 | 5.84 | 5.84 | |||||
Discontinued operations (Nigeria) | 2.53 | 2.51 | 2.84 | 2.32 | 2.57 | 2.54 | 2.54 | |||||
Total | 5.49 | 5.14 | 5.18 | 5.69 | 5.38 | 5.74 | 5.74 | |||||
*Excludes transfers to Darwin LNG plant. |
7 of 8
2012 | 2013 | ||||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||||||
CORPORATE AND OTHER | |||||||||||||||||||
Corporate and Other Earnings (Loss) ($ Millions) | (311 | ) | (262 | ) | (254 | ) | (166 | ) | (993 | ) | (162 | ) | (162 | ) | |||||
Detail of Earnings (Loss) ($ Millions) | |||||||||||||||||||
Net interest expense | (161 | ) | (160 | ) | (214 | ) | (113 | ) | (648 | ) | (108 | ) | (108 | ) | |||||
Corporate G&A expenses | (74 | ) | (44 | ) | (128 | ) | (67 | ) | (313 | ) | (27 | ) | (27 | ) | |||||
Technology* | (18 | ) | (22 | ) | 46 | (10 | ) | (4 | ) | (8 | ) | (8 | ) | ||||||
Separation costs | (33 | ) | (40 | ) | (7 | ) | (4 | ) | (84 | ) | - | - | |||||||
Other | (25 | ) | 4 | 49 | 28 | 56 | (19 | ) | (19 | ) | |||||||||
Total | (311 | ) | (262 | ) | (254 | ) | (166 | ) | (993 | ) | (162 | ) | (162 | ) | |||||
* Includes investment in new technologies or businesses outside of our normal scope of operations and is net of licensing revenues. | |||||||||||||||||||
Before-Tax Net Interest Expense ($ Millions) | |||||||||||||||||||
Interest expense | (309 | ) | (315 | ) | (294 | ) | (303 | ) | (1,221 | ) | (287 | ) | (287 | ) | |||||
Capitalized interest | 146 | 145 | 157 | 167 | 615 | 179 | 179 | ||||||||||||
Interest revenue | 11 | 18 | 7 | 60 | 96 | 10 | 10 | ||||||||||||
Premium on early debt retirement | - | - | (79 | ) | - | (79 | ) | - | - | ||||||||||
Total | (152 | ) | (152 | ) | (209 | ) | (76 | ) | (589 | ) | (98 | ) | (98 | ) | |||||
Debt | |||||||||||||||||||
Total debt ($ Millions) | 28,360 | 23,008 | 21,117 | 21,725 | 21,725 | 21,670 | 21,670 | ||||||||||||
Debt-to-capital ratio (%) | 30 | % | 33 | % | 31 | % | 31 | % | 31 | % | 31 | % | 31 | % | |||||
Equity ($ Millions) | 67,057 | 46,443 | 47,877 | 48,427 | 48,427 | 49,240 | 49,240 | ||||||||||||
REFERENCE | |||||||||||||||||||
Commonly Used Abbreviations | |||||||||||||||||||
Earnings | Net Income (Loss) Attributable to ConocoPhillips | ||||||||||||||||||
DD&A | Depreciation, Depletion and Amortization | ||||||||||||||||||
FX | Foreign Currency | ||||||||||||||||||
G&G | Geological and Geophysical | ||||||||||||||||||
G&A | General and Administrative | ||||||||||||||||||
JCC | Japan Crude Cocktail | ||||||||||||||||||
LNG | Liquefied Natural Gas | ||||||||||||||||||
NGL | Natural Gas Liquids | ||||||||||||||||||
R&D | Research and Development | ||||||||||||||||||
WCS | Western Canada Select | ||||||||||||||||||
WTI | West Texas Intermediate | ||||||||||||||||||
Units of Measure | |||||||||||||||||||
BBL | Barrels | ||||||||||||||||||
MMBBL | Millions of Barrels | ||||||||||||||||||
MBD | Thousands of Barrels per Day | ||||||||||||||||||
MBOED | Thousands of Barrels of Oil Equivalent per Day | ||||||||||||||||||
MCF | Thousands of Cubic Feet | ||||||||||||||||||
MMBTU | Millions of British Thermal Units | ||||||||||||||||||
MMCFD | Millions of Cubic Feet per Day |
8 of 8