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MRO » Topics » Moving to slide 10, domestic upstream income decreased $26 million from the second quarter, largely a result of slightly higher operating costs associated with the previously mentioned workovers in the Gulf of Mexico.

This excerpt taken from the MRO 8-K filed Nov 5, 2007.

Moving to slide 10, domestic upstream income decreased $26 million from the second quarter, largely a result of slightly higher operating costs associated with the previously mentioned workovers in the Gulf of Mexico.

 

As shown on Slide 11, the NYMEX prompt price for WTI crude was up $10.13 per barrel from the second quarter while our average domestic realized liquid hydrocarbon price was up $8.34. Our lower realizations compared to the NYMEX were primarily the result of weaker differentials for Gulf Coast and Wyoming crude streams as well as NGL price realizations which did not keep pace with the WTI increase.

 

The Bid Week Natural Gas price was down $1.39 per million BTUs from the second quarter, while our domestic natural gas realizations were down $1.02 per mcf. Our lower 48 realizations were down $1.13 per mcf, primarily reflecting the relative positive movement of differentials to Henry Hub quarter on quarter.

 

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