Operating Statistics by Area (1)
| Permian | Mid- Continent |
Rocky Mountains |
Gulf Coast |
U.S. Offshore |
Total U.S. |
Canada | International | Total Company |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Producing Wells at Year-End | 8,525 | 7,102 | 6,059 | 4,019 | 682 | 26,387 | 7,975 | 449 | 34,811 | ||||||||||||||||||
2007 Production (Net of royalties) Oil (MMBbls) |
7 | 1 | 1 | 2 | 8 | 19 | 16 | 20 | 55 | ||||||||||||||||||
| Gas (Bcf) | 34 | 292 | 100 | 132 | 77 | 635 | 227 | 1 | 863 | ||||||||||||||||||
| NGLs (MMBbls) | 3 | 13 | 1 | 4 | 1 | 22 | 4 | — | 26 | ||||||||||||||||||
| Oil, Gas and NGLs (MMBoe) | 15 | 62 | 19 | 28 | 22 | 146 | 58 | 20 | 224 | ||||||||||||||||||
Average Prices Oil price (per Bbl) |
$ | 67.87 | 68.22 | 62.02 | 70.28 | 71.95 | 69.23 | 49.80 | 70.60 | 63.98 | |||||||||||||||||
| Gas price (per Mcf) | $ | 6.02 | 5.68 | 4.54 | 6.51 | 7.17 | 5.89 | 6.24 | 6.22 | 5.99 | |||||||||||||||||
| NGLs price (per Bbl) | $ | 34.00 | 35.61 | 19.35 | 40.60 | 36.78 | 36.11 | 46.07 | — | 37.76 | |||||||||||||||||
| Oil, Gas and NGLs (per Boe) | $ | 50.03 | 34.89 | 30.15 | 41.18 | 53.30 | 39.87 | 41.51 | 70.11 | 42.96 | |||||||||||||||||
Year-End Reserves (Net of royalties) Oil (MMBbls) |
90 | 6 | 20 | 15 | 39 | 170 | 388 | 119 | 677 | ||||||||||||||||||
| Gas (Bcf) | 248 | 3,972 | 1,191 | 1,354 | 378 | 7,143 | 1,844 | 7 | 8,994 | ||||||||||||||||||
| NGLs (MMBbls) | 26 | 192 | 11 | 52 | 1 | 282 | 39 | — | 321 | ||||||||||||||||||
| Oil, Gas and NGLs (MMBoe) | 156 | 860 | 230 | 293 | 103 | 1,642 | 734 | 120 | 2,496 | ||||||||||||||||||
Year-End Present Value of Reserves (In millions)(2) Before income tax |
$ | 3,473 | 8,485 | 2,541 | 3,429 | 3,136 | 21,064 | 7,986 | 3,802 | 32,852 | |||||||||||||||||
| After income tax | $ | 14,679 | 5,962 | 2,830 | 23,471 | ||||||||||||||||||||||
Year-End Leasehold (Net acres in thousands) Developed |
302 | 826 | 549 | 508 | 362 | 2,547 | 2,200 | 54 | 4,801 | ||||||||||||||||||
| Undeveloped | 447 | 533 | 1,378 | 539 | 2,247 | 5,144 | 5,911 | 8,631 | 19,686 | ||||||||||||||||||
Wells Drilled During 2007 |
155 | 792 | 480 | 224 | 11 | 1,662 | 748 | 30 | 2,440 | ||||||||||||||||||
Capital Costs Incurred (In millions)(3) 2007 Actual |
$ | 214 | 1,955 | 411 | 878 | 812 | 4,270 | 1,365 | 466 | 6,101 | |||||||||||||||||
| 2008 Forecast | $225-245 | 1,895-1,975 | 380-405 | 865-915 | 980-1,050 | 4,345-4,590 | 1,305-1,365 | 450-490 | 6,100-6,445 | ||||||||||||||||||
(1) Excludes results from discontinued operations.
(2) Estimated future revenue to be generated from the production of proved reserves, net of estimated future production and development costs, discounted at 10% in accordance with SFAS No. 69, Disclosures about Oil and Gas Producing Activities. Devon believes that the pre-tax 10% present value is a useful measure in addition to the after-tax value as it assists in both the determination of future cash flows of the current reserves as well as in making relative value comparisons among peer companies. The after-tax present value is dependent on the unique tax situation of each individual company while the pre-tax present value is based on prices and discount factors which are consistent from company to company. We also understand that securities analysts use this pre-tax measure in similar ways.
(3) 2007 actual costs incurred and 2008 forecasted capital costs include exploration and production expenditures, capitalized general and administrative costs, capitalized interest costs and asset retirement costs.