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Inventory, Linefill, Base Gas and Long-term Inventory (Tables)

3 Months Ended

Mar. 31, 2012

Inventory, Linefill, Base Gas and Long-term Inventory

Components of inventory, linefill, base gas and long-term inventory

	March 31, 2012						December 31, 2011
		Unit of	Total		Price/			Unit of	Total		Price/
	Volumes	Measure	Value		Unit (1)		Volumes	Measure	Value		Unit (1)
Inventory
Crude oil	8,464	barrels	$	821	$	97.00	5,361	barrels	$	483	$	90.10
NGL	3,829	barrels	216		$	56.41	6,885	barrels	438		$	63.62
Natural gas (2)	14,453	Mcf	33		$	2.28	16,170	Mcf	51		$	3.15
Other	N/A		9		N/A		N/A		6		N/A
Inventory subtotal			1,079						978

Linefill and base gas
Crude oil	9,410	barrels	526		$	55.90	9,366	barrels	514		$	54.88
Natural gas (2)	14,105	Mcf	49		$	3.47	14,105	Mcf	48		$	3.40
NGL	31	barrels	2		$	64.52	31	barrels	2		$	64.52
Linefill and base gas subtotal			577						564

Long-term inventory
Crude oil	1,848	barrels	138		$	74.68	1,714	barrels	127		$	74.10
NGL	150	barrels	8		$	53.33	150	barrels	8		$	53.33
Long-term inventory subtotal			146						135

Total			$	1,802					$	1,677

(1) Price per unit of measure represents a weighted average associated with various grades, qualities and locations. Accordingly, these prices may not coincide with any published benchmarks for such products.

(2) The volumetric ratio of Mcf of natural gas to crude Btu equivalent is 6:1; thus, natural gas volumes can be approximately converted to barrels by dividing by 6.