Shell Investors' Handbook 2008-2012

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Proved oil and gas reserves – Changes

The tables present changes in the reserves of (i) Shell subsidiaries without deduction of the reserves attributable to non-controlling interest holders in our subsidiaries and (ii) the Shell share of equity-accounted investments. Changes in proven minable oil sands reserves are reported separately for 2008. As a result of SEC rule changes, these proven minable oil sands reserves have been converted to synthetic crude oil proved reserves and from 2009 onwards these are included in the proved oil and gas reserves.

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PROVED CRUDE OIL AND NATURAL GAS LIQUIDS, SYNTHETIC CRUDE OIL AND BITUMEN RESERVES CHANGES FOR SHELL SUBSIDIARIES AND EQUITY-ACCOUNTED INVESTMENTS [A][C] (AT DECEMBER 31)

MILLION BARRELS

 

2012

2011

2010

2009

2008

Revisions and reclassifications

629

190

856

1,205[B]

242

Improved recovery

13

34

66

42

54

Extensions and discoveries

88

326

161

617

51

Purchases of minerals in place

82

–

59

–

4

Sales of minerals in place

(66)

(37)

(57)

(1)

(65)

Total additions including
  year-average/end price effects

746

513

1,085

1,863

286

Production

(598)

(611)

(626)

(616)

(619)
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PROVED NATURAL GAS RESERVES CHANGES FOR SHELL SUBSIDIARIES AND EQUITY-ACCOUNTED INVESTMENTS [A][C][D] (AT DECEMBER 31)

THOUSAND MILLION SCF

 

2012

2011

2010

2009

2008

Revisions and reclassifications

(1,343)

899

829

4,688

4,184

Improved recovery

16

3

42

1

–

Extensions and discoveries

667

3,504

1,288

4,326

968

Purchases of minerals in place

161

–

237

16

448

Sales of minerals in place

(684)

(394)

(743)

–

(19)

Total additions including
  year-average/end price effects

(1,183)

4,012

1,653

9,031

5,581

Production

(3,687)

(3,485)

(3,573)

(3,315)

(3,137)
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PROVEN MINABLE OIL SANDS RESERVES CHANGES (AT DECEMBER 31)

MILLION BARRELS

 

 

 

 

 

2008

Revisions and reclassifications

 

 

 

 

(85)

Extensions and discoveries

 

 

 

 

–

Total additions including year-end price effects

 

 

 

(85)

Production

 

 

 

 

(29)
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TOTAL PROVED OIL AND GAS RESERVES CHANGES [A][C][E][F] (AT DECEMBER 31)

MILLION BOE

 

2012

2011

2010

2009

2008

[A]

2009–2012 includes proved reserves associated with future production that will be consumed in operations. These volumes were not included in 2008.

[B]

Excludes the 997 million barrels of previously booked proven minable oil sands reserves.

[C]

Year-end price effect for 2008; year-average price effect for 2009–2012.

[D]

These quantities have not been adjusted to standard heat content.

[E]

Natural gas volumes are converted to oil equivalent using a factor of 5,800 scf per barrel. Rounding difference may occur in estimate of gas reserves conversion from scf to boe.

[F]

Proven minable oil sands included for 2008.

Revisions and reclassifications

397

345

999

2,013[B]

878

Improved recovery

16

35

73

42

54

Extensions and discoveries

203

930

383

1,363

219

Purchases of minerals in place

110

–

100

3

81

Sales of minerals in place

(184)

(105)

(185)

(1)

(68)

Total additions including
  year-average/end price effects

542

1,205

1,370

3,420

1,164

Year-average/end price effects

(431)

(235)

(198)

260

19

Total additions excluding
  year-average/end price effects

973

1,440

1,568

3,160

1,145

Total additions excluding acquisitions
  and divestments and excluding
  year-average/end price effects

1,047

1,545

1,653

3,158

1,132

Production

(1,234)

(1,212)

(1,242)

(1,187)

(1,189)
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