Chevron Crude Oil Marketing - North America - February 2005 East of the Rockies Summary

North America Crude Oil Marketing - February 2005 Summary East of the Rockies Bulletins 05-E22 to 05-E40, with Monthly Averages

Chevron has changed its posted prices as shown below:

Effective 7:00 a.m. on the date(s) indicated, and subject to change without notice and subject to the terms and conditions of its division orders or other contracts, Chevron will pay the following prices ($/bbl) for oil at 40.0° API and above, except as noted below, delivered into pipelines for its account into the custody of its authorized carrier or receiving agent. The posted prices for crude oil transported by truck or barge will be the following prices less appropriate trucking or barge cost. The posted prices for crude oil received off shore will be the following prices less appropriate transportation and quality costs to get the crude on shore. Regarding technical issues of Chevron's most recent posted prices, call Christine Mathwig 832-854-5159.

POSTINGS WILL BE DISCONTINUED AS OF 8/1/19

* Prices are subject to a Gravity Adjustment Scale

East of the Rockies	E22 02/01	E23 02/02	E24 02/03	E25 02/04	E26 02/07	E27 02/08	E28 02/09	E29 02/10	E30 02/11	E31 02/14	Gvty Adj*
Altamont Yellow Wax	46.62	46.19	45.95	45.98	44.78	44.90	44.96	46.60	46.66	46.94	B
Bonito Sour (Onshore)	42.75	42.50	42.25	42.25	41.00	41.00	41.25	42.75	42.75	43.25	A
Deepwater Sour (Onshore) (30ï¿½)	39.25	38.75	38.50	38.50	37.50	37.50	37.50	39.25	39.25	39.50	F,G
East Texas	43.50	43.00	43.00	43.00	41.75	41.75	42.00	43.50	43.50	44.00	none
Eugene Island Sour (Onshore)	42.75	42.50	42.25	42.25	41.00	41.00	41.25	42.75	43.00	43.25	A
Heavy Louisiana Sweet (Onshore)	45.50	45.00	44.75	44.75	43.50	43.75	43.75	45.50	45.50	45.75	A
Light Louisiana Sweet (Onshore)	46.50	46.00	45.75	45.75	44.50	44.75	44.75	46.50	46.50	46.75	A
New Mexico Intermediate	46.61	46.18	45.94	45.97	44.77	44.89	44.95	46.59	46.65	46.93	none
New Mexico Sour (34ï¿½)	42.12	41.69	41.45	41.48	40.28	40.40	40.46	42.10	42.16	42.44	none
North Texas Sweet	43.75	43.25	43.25	43.25	42.00	42.00	42.25	43.75	43.75	44.25	none
Oklahoma Sour	42.12	41.69	41.45	41.48	40.28	40.40	40.46	42.10	42.16	42.44	none
Oklahoma Sweet	46.95	46.52	46.28	46.31	45.11	45.23	45.29	46.93	46.99	47.27	none
South Texas Light Sweet	41.75	41.25	41.25	41.25	40.00	40.00	40.25	41.75	41.75	42.25	none
Southwest Wyoming Sweet	48.17	47.74	47.50	47.53	46.33	46.45	46.51	48.15	48.21	48.49	E
Uinta Basin Black Wax	43.87	43.44	43.20	43.23	42.03	42.15	42.21	43.85	43.91	44.19	B
West Texas Intermediate	43.75	43.25	43.25	43.25	42.00	42.00	42.25	43.75	43.75	44.25	none
West Texas Sour (34ï¿½)	39.00	38.50	38.50	38.50	37.25	37.25	37.50	39.00	39.00	39.50	none
Western Colorado	47.91	47.48	47.24	47.27	46.07	46.19	46.25	47.89	47.95	48.23	B

East of the Rockies	E32 02/15	E33 02/16	E34 02/17	E35 02/18	E36 02/22	E37 02/23	E38 02/24	E39 02/25	E40 02/28	Mthly Avg
Altamont Yellow Wax	46.76	47.83	47.04	47.85	50.65	50.67	50.89	50.99	51.25	47.6543
Bonito Sour (Onshore)	43.00	44.00	43.25	44.00	46.75	46.75	47.00	47.25	47.50	43.8482
Deepwater Sour (Onshore) (30ï¿½)	39.25	40.50	39.75	40.50	43.25	43.25	43.50	43.50	43.75	40.2411
East Texas	43.75	44.75	44.00	44.75	47.50	47.75	47.75	48.00	48.25	44.5982
Eugene Island Sour (Onshore)	43.00	44.00	43.25	44.00	46.75	47.00	47.00	47.25	47.50	43.8839
Heavy Louisiana Sweet (Onshore)	45.50	46.75	45.75	46.75	49.50	49.50	49.75	49.75	50.00	46.4732
Light Louisiana Sweet (Onshore)	46.50	47.75	47.00	47.75	50.50	50.50	50.75	50.75	51.00	47.4821
New Mexico Intermediate	46.75	47.82	47.03	47.84	50.64	50.66	50.88	50.98	51.24	47.6443
New Mexico Sour (34ï¿½)	42.26	43.33	42.54	43.35	46.15	46.17	46.39	46.49	46.75	43.1543
North Texas Sweet	44.00	45.00	44.25	45.00	47.75	48.00	48.00	48.25	48.50	44.8482
Oklahoma Sour	42.26	43.33	42.54	43.35	46.15	46.17	46.39	46.49	46.75	43.1543
Oklahoma Sweet	47.09	48.16	47.37	48.18	50.98	51.00	51.22	51.32	51.58	47.9843
South Texas Light Sweet	42.00	43.00	42.25	43.00	45.75	46.00	46.00	46.25	46.50	42.8482
Southwest Wyoming Sweet	48.31	49.38	48.59	49.40	52.20	52.22	52.44	52.54	52.80	49.2043
Uinta Basin Black Wax	44.01	45.08	44.29	45.10	47.90	47.92	48.14	48.24	48.50	44.9043
West Texas Intermediate	44.00	45.00	44.25	45.00	47.75	48.00	48.00	48.25	48.50	44.8482
West Texas Sour (34ï¿½)	39.25	40.25	39.50	40.25	43.00	43.25	43.25	43.50	43.75	40.0982
Western Colorado	48.05	49.12	48.33	49.14	51.94	51.96	52.18	52.28	52.54	48.9443

Note: Prices in $/bbl

Measurement
The prices are based upon computation of quantities by mutually acceptable automatic measuring equipment in accordance with provisions of API Standard 1101 or from 100% tank tables with corrections of volume and gravity for temperature to 60°F in accordance with ASTM D-1250 and supplements thereto, if any, and with deductions for full sediment, water and other impurities. Only merchantable oil acceptable to the receiving agency designated by Chevron and containing not more than 1% sediment and water will be accepted.