In 2010, we had net positive revisions of 20 MMBOE. Positive revisions of 8 MMBOE were
primarily related to higher realized oil prices principally at our California properties while positive
revisions of 12 MMBOE were primarily related to higher realized gas prices principally at our
Panhandle, Haynesville Shale and South Texas properties.
In 2009, we had net positive revisions of 39 MMBOE. Positive revisions of 77 MMBOE were
primarily related to higher oil prices principally at our California properties. Negative revisions of 13
MMBOE mostly related to lower gas prices, primarily at our Panhandle and South Texas properties.
Additionally, certain of our undeveloped locations are scheduled for development beyond five years
and were excluded from our proved reserves, resulting in a negative revision of 25 MMBOE.
Purchases of Reserves in-Place
In 2011, proved reserves acquired in the Texas Panhandle were 4 MMBOE. These proved
reserves were subsequently divested in December 2011.
In 2010, proved reserve additions acquired in the Eagle Ford Shale were 1 MMBOE.
In 2009, we had a total of 2 MMBOE of proved reserve additions related to interests acquired in
the Haynesville Shale.
Extensions, Discoveries and Other Additions
In 2011, we had a total of 75 MMBOE of extensions and discoveries, including 25 MMBOE in the
Haynesville Shale and 22 MMBOE in the Eagle Ford Shale resulting from successful drilling during
2011 that extended and developed our proved acreage and 19 MMBOE in the deepwater Gulf of
Mexico resulting from sanctioning of the Lucius project.
In 2010, we had a total of 77 MMBOE of extensions and discoveries, including 54 MMBOE in the
Haynesville Shale resulting from successful drilling during 2010 that extended and developed the
proved acreage and 17 MMBOE of extensions and discoveries in the Panhandle resulting from
successful horizontal development and extension of the proved acreage in the Granite/Atoka Wash.
In 2009, we had a total of 57 MMBOE of extensions and discoveries, including 53 MMBOE in the
Haynesville Shale resulting from successful drilling during 2009 that extended and developed our
proved acreage and 2 MMBOE of extensions and discoveries in the Gulf of Mexico, primarily
attributable to continued success in the Flatrock area.
Sales of Reserves in-Place
In 2011, we had a total of 50 MMBOE of divestments, which were primarily from our Panhandle
and South Texas properties.
In 2010, we had a total of 9 MMBOE of divestments, all of which were from our shallow water Gulf
of Mexico divestment to McMoRan.
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