v2.4.0.8
SUPPLEMENTAL FINANCIAL DATA-OIL AND GAS PRODUCING ACTIVITIES (Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves) (Details) (USD $) In Thousands, unless otherwise specified
|
12 Months Ended |
|
|
|
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves, Future Net Cash Flows |
|
|
|
Future oil, natural gas, and natural gas liquids sales |
$ 3,459,749 |
$ 6,929,652 |
$ 11,004,080 |
Future production costs |
(1,165,344) |
(2,166,681) |
(2,892,047) |
Future development costs |
(676,684) |
(1,444,144) |
(2,027,516) |
Future income taxes |
(18,441) |
(142,383) |
(1,071,362) |
Future net cash flows |
1,599,280 |
3,176,444 |
5,013,155 |
10% annual discount for estimated timing of cash flows |
(864,672) |
(1,779,347) |
(2,625,414) |
Standardized measure of discounted future net cash flows |
734,608 |
1,397,097 |
2,387,741 |
Increase (Decrease) in Standardized Measure of Discounted Future Net Cash Flow Relating to Proved Oil and Gas Reserves |
|
|
|
Standardized measure of discounted future net cash flows relating to proved oil, natural gas, and NGL reserves, at beginning of year |
1,397,097 |
2,387,741 |
2,170,446 |
Changes resulting from: |
|
|
|
Sales of oil, natural gas, and NGL net of production costs |
|
(448,614) |
(550,013) |
Net changes in prices and future production costs |
|
(1,235,758) |
118,714 |
Net changes in future development costs |
|
(4,188) |
(56,422) |
Extensions, discoveries, and improved recovery |
|
572,516 |
667,323 |
Development costs incurred during the period |
|
140,111 |
231,270 |
Revisions of previous quantity estimates |
|
(355,565) |
(220,389) |
Changes in production rates, timing, and other |
|
(34,665) |
(173,222) |
Sales of reserves in place |
|
(213,683) |
(107,742) |
Purchases of reserves in place |
|
0 |
0 |
Accretion of discount on reserves at beginning of year |
|
263,316 |
258,303 |
Net change in income taxes |
|
325,886 |
49,473 |
Total change for year |
|
(990,644) |
217,295 |
Standardized measure of discounted future net cash flows relating to proved oil, natural gas, and NGL reserves, at end of year |
|
1,397,097 |
2,387,741 |
Discount rate applied to cash flow amounts in computation of standardized measure of discounted future net cash flows (as a percent) |
10.00% |
|
|
United States
|
|
|
|
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves, Future Net Cash Flows |
|
|
|
Future oil, natural gas, and natural gas liquids sales |
3,459,749 |
6,929,652 |
10,427,716 |
Future production costs |
(1,165,344) |
(2,166,681) |
(2,692,993) |
Future development costs |
(676,684) |
(1,444,144) |
(2,008,824) |
Future income taxes |
(18,441) |
(142,383) |
(940,526) |
Future net cash flows |
1,599,280 |
3,176,444 |
4,785,373 |
10% annual discount for estimated timing of cash flows |
(864,672) |
(1,779,347) |
(2,499,631) |
Standardized measure of discounted future net cash flows |
734,608 |
1,397,097 |
2,285,742 |
Increase (Decrease) in Standardized Measure of Discounted Future Net Cash Flow Relating to Proved Oil and Gas Reserves |
|
|
|
Standardized measure of discounted future net cash flows relating to proved oil, natural gas, and NGL reserves, at beginning of year |
1,397,097 |
2,285,742 |
1,964,920 |
Changes resulting from: |
|
|
|
Sales of oil, natural gas, and NGL net of production costs |
(337,914) |
(448,614) |
(550,013) |
Net changes in prices and future production costs |
222,516 |
(1,226,494) |
272,027 |
Net changes in future development costs |
50,568 |
(4,188) |
(55,725) |
Extensions, discoveries, and improved recovery |
295,585 |
572,516 |
667,323 |
Development costs incurred during the period |
128,482 |
140,111 |
231,270 |
Revisions of previous quantity estimates |
(114,712) |
(203,987) |
(220,389) |
Changes in production rates, timing, and other |
19,321 |
(34,665) |
(132,714) |
Sales of reserves in place |
(1,099,372) |
(213,683) |
(107,742) |
Purchases of reserves in place |
0 |
0 |
0 |
Accretion of discount on reserves at beginning of year |
143,432 |
259,393 |
226,354 |
Net change in income taxes |
29,605 |
270,966 |
(9,569) |
Total change for year |
(662,489) |
(888,645) |
320,822 |
Standardized measure of discounted future net cash flows relating to proved oil, natural gas, and NGL reserves, at end of year |
734,608 |
1,397,097 |
2,285,742 |
Italy
|
|
|
|
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves, Future Net Cash Flows |
|
|
|
Future oil, natural gas, and natural gas liquids sales |
0 |
0 |
576,364 |
Future production costs |
0 |
0 |
(199,054) |
Future development costs |
0 |
0 |
(18,692) |
Future income taxes |
0 |
0 |
(130,836) |
Future net cash flows |
0 |
0 |
227,782 |
10% annual discount for estimated timing of cash flows |
0 |
0 |
(125,783) |
Standardized measure of discounted future net cash flows |
0 |
0 |
101,999 |
Increase (Decrease) in Standardized Measure of Discounted Future Net Cash Flow Relating to Proved Oil and Gas Reserves |
|
|
|
Standardized measure of discounted future net cash flows relating to proved oil, natural gas, and NGL reserves, at beginning of year |
0 |
101,999 |
205,526 |
Changes resulting from: |
|
|
|
Sales of oil, natural gas, and NGL net of production costs |
|
0 |
0 |
Net changes in prices and future production costs |
|
(9,264) |
(153,313) |
Net changes in future development costs |
|
0 |
(697) |
Extensions, discoveries, and improved recovery |
|
0 |
0 |
Development costs incurred during the period |
|
0 |
0 |
Revisions of previous quantity estimates |
|
(151,578) |
0 |
Changes in production rates, timing, and other |
|
0 |
(40,508) |
Sales of reserves in place |
|
0 |
0 |
Purchases of reserves in place |
|
0 |
0 |
Accretion of discount on reserves at beginning of year |
|
3,923 |
31,949 |
Net change in income taxes |
|
54,920 |
59,042 |
Total change for year |
|
(101,999) |
(103,527) |
Standardized measure of discounted future net cash flows relating to proved oil, natural gas, and NGL reserves, at end of year |
|
$ 0 |
$ 101,999 |
Henry Hub
|
|
|
|
Changes resulting from: |
|
|
|
Average price used in calculating standardized measure of discounted future net cash flows proved reserves (in dollars per MMBtu/barrel) |
3.67 |
2.76 |
4.12 |
West Texas Intermediate
|
|
|
|
Changes resulting from: |
|
|
|
Average price used in calculating standardized measure of discounted future net cash flows proved reserves (in dollars per MMBtu/barrel) |
97.33 |
94.79 |
96.08 |
X |
- Definition
The average price (per MMBTU for gas and per barrel for oil) during the twelve-month period used in the computation of the standardized measure of discounted future net cash flows relating to proved oil and gas reserves.
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The discount rate applied to all cash flow amounts used in the computation of standardized measure of discounted future net cash flows.
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Amount of decrease in standardized measure of discounted future net cash flow as a result of sales of minerals in place.
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Amount of estimated future cash inflows from sale of proved oil and gas reserves.
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Amount of estimated future cost to be incurred in developing proved oil and gas reserves.
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Amount of estimated future cost to be incurred in producing proved oil and gas reserves.
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