Financial Highlights


Cash flow (bar chart)
Net income (bar chart)
Netbacks (bar chart)
2008 capital (pie chart)
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2008

2007

2006

1

Defined as cash flow from operating activities before changes in non-cash working capital and other.

2

Defined as average sales price less royalties and other, operating costs and Yemen in-country taxes.

3

Represents our working interest before royalties using year-end pricing and includes our Syncrude reserves.

Cash Flow from Operations1 ($ millions)

4,229

3,458

2,669

Cash Flow per Share ($/share)

8.04

6.56

5.09

Net Income ($ millions)

1,715

1,086

601

Net Income per Share ($/share)

3.26

2.06

1.15

Cash Netbacks from Oil and Gas Operations2 ($/boe)

60.64

43.22

32.75

Capital Expenditures ($ millions)

3,066

3,401

3,330

Production before Royalties (mboe/d)

250

254

212

Production after Royalties (mboe/d)

210

207

156

Proved Reserves3 (mmboe)

988

1,058

1,049

Proved + Probable Reserves3 (mmboe)

2,036

1,964

1,651

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