2008 Reserve Disclosures
View the reserve reconciliation table for our proved and probable reserves before royalties at Dec 31, 2008 using year-end prices.

View the related FAS 69 disclosure ( 6pg, 89KB) from our Form 10-K for reserves after royalties at year-end prices.

In 2008, we invested approximately $2.5 billion in oil and gas exploration and development activities and added 74 million boe of proved reserves before negative economic revisions of 50 million boe. Under SEC regulations, we are required to use year-end pricing to determine our proved reserves. Low commodity prices at December 31, 2008 caused virtually all of our negative economic revisions. These revisions represent only 5% of our total proved reserves and may come back in an improved commodity price environment. On an after-royalties basis, our proved reserves total 926 million boe at December 31, 2008 compared to 917 million boe at December 31, 2007.