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This excerpt taken from the MRO 10-Q filed Nov 7, 2008. Exploration expenses were $109
million and $368 million in the third quarter and first nine months of 2008,
including expenses related to dry wells of $24 million and $106
million. Exploration expenses were $88 million and $264 million
in the third quarter and first nine months of 2007, including expenses related
to dry wells of $22 million and $76 million. Other exploration
expense increases in the first nine months of 2008 relate to the acquisition of
seismic data in Indonesia and the evaluation of Canadian in-situ oil sands
leases.
This excerpt taken from the MRO 10-Q filed May 9, 2008. Exploration expenses increased
$68 million in the first quarter of 2008 from the comparable prior year
period. Dry well expenses increased from $16 million, primarily
related to domestic onshore wells, to $30 million, primarily related to offshore
drilling. Other exploration expense increases in the first quarter of
2008 relate to the acquisition of seismic data in Indonesia and the evaluation
of Canadian in-situ oil sand leases.
This excerpt taken from the MRO 10-Q filed Nov 7, 2007. Exploration
expenses were $88 million and $264 million in the third
quarter and first nine months of 2007, including expenses related to dry wells
of $22 million and $76 million primarily related to exploration activities in
Angola. Exploration expenses were $97
million and $234 million in the third quarter and first nine months of 2006,
including expenses related to dry wells and other write-offs of $41 million and
$99 million. The largest increase in
exploration expenses in the nine-month period related to geological and
geophysical costs.
This excerpt taken from the MRO 10-Q filed Aug 7, 2007. Exploration expenses were $115
million and $176 million in the second quarter and first six months of 2007,
including expenses related to dry wells of $39 million and $55 million
primarily related to exploration activities in Angola. Exploration expenses were $66 million and
$137 million in the second quarter and first six months of 2006, including
expenses related to dry wells of $28 million and $58 million. The largest increase in exploration expenses
in these periods related to geological and geophysical costs.
This excerpt taken from the MRO 10-Q filed Nov 4, 2005. Exploration expenses
for the third quarter and the first nine months of 2005 increased by $18
million and $27 million, compared to the same periods in 2004. During the quarter ended September 30,
2005, $22 million of exploratory well costs related to the Annapolis project
offshore Nova Scotia were written off.
Sufficient progress toward an economically viable project had not been
made since completion of drilling in this prospect in the third quarter of
2004. The subsea wellhead remains in
place and could be tied back into a development in the future. We continue to evaluate further drilling in
this area.
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