Chevron Crude Oil Marketing - North America - October 2011 East of the Rockies Summary

North America Crude Oil Marketing - October 2011 Summary East of the Rockies Bulletins 11-E191 to 11-E211, 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	E191 10/03	E192 10/04	E193 10/05	E194 10/06	E195 10/07	E196 10/10	E197 10/11	E198 10/12	E199 10/13	E200 10/14	E201 10/17	Gvty Adj*
Altamont Yellow Wax	65.61	63.67	67.68	70.59	70.98	73.41	73.81	73.57	72.23	74.80	74.38	B
Bonito Sour (Onshore)	104.50	102.50	106.50	109.50	110.00	112.25	112.75	112.50	111.25	113.75	113.25	A
Deepwater Sour (Onshore) (30ï¿½)	101.75	99.75	104.00	106.75	107.25	109.50	110.00	109.75	108.50	111.00	110.50	F,G
East Texas	74.00	72.00	76.00	79.00	79.25	81.75	82.00	82.00	80.50	83.00	82.75	none
Eugene Island Sour (Onshore)	104.75	102.75	106.75	109.75	110.00	112.50	113.00	112.75	111.25	114.00	113.50	A
Heavy Louisiana Sweet (Onshore)	107.00	105.25	109.25	112.00	112.50	115.00	115.25	115.00	113.75	116.25	115.75	A
Light Louisiana Sweet (Onshore)	104.50	102.50	106.50	109.50	109.75	112.25	112.75	112.50	111.00	113.75	113.25	A
New Mexico Intermediate	74.25	72.25	76.25	79.25	79.50	82.00	82.25	82.25	80.75	83.25	83.00	none
New Mexico Sour (34ï¿½)	69.50	67.50	71.50	74.50	74.75	77.25	77.50	77.50	76.00	78.50	78.25	none
North Texas Sweet	74.25	72.25	76.25	79.25	79.50	82.00	82.25	82.25	80.75	83.25	83.00	none
Oklahoma Sour	69.50	67.50	71.50	74.50	74.75	77.25	77.50	77.50	76.00	78.50	78.25	none
Oklahoma Sweet	74.25	72.25	76.25	79.25	79.50	82.00	82.25	82.25	80.75	83.25	83.00	none
Rocky Mountain Condensate	65.36	63.42	67.43	70.34	70.73	73.16	73.56	73.32	71.98	74.55	74.13	H
South Texas Light Sweet	72.25	70.25	74.25	77.25	77.50	80.00	80.25	80.25	78.75	81.25	81.00	none
Southwest Wyoming Sweet	70.36	68.42	72.43	75.34	75.73	78.16	78.56	78.32	76.98	79.55	79.13	E
Uinta Basin Black Wax	64.61	62.67	66.68	69.59	69.98	72.41	72.81	72.57	71.23	73.80	73.38	B
West Texas Intermediate	74.25	72.25	76.25	79.25	79.50	82.00	82.25	82.25	80.75	83.25	83.00	none
West Texas Sour (34ï¿½)	69.50	67.50	71.50	74.50	74.75	77.25	77.50	77.50	76.00	78.50	78.25	none
Western Colorado	67.61	65.67	69.68	72.59	72.98	75.41	75.81	75.57	74.23	76.80	76.38	B

East of the Rockies	E202 10/18	E203 10/19	E204 10/20	E205 10/21	E206 10/24	E207 10/25	E208 10/26	E209 10/27	E210 10/28	E211 10/31	Mthly Avg
Altamont Yellow Wax	76.34	74.11	73.30	75.40	79.27	81.17	78.20	81.96	81.32	81.19	74.2706
Bonito Sour (Onshore)	115.25	113.00	112.25	114.25	118.25	120.00	117.25	121.00	120.25	120.00	112.8629
Deepwater Sour (Onshore) (30ï¿½)	112.50	110.25	109.50	111.50	115.50	117.25	114.50	118.25	117.50	117.50	110.1290
East Texas	84.75	82.50	81.50	83.75	87.50	89.50	86.50	90.25	89.75	89.50	82.5887
Eugene Island Sour (Onshore)	115.50	113.25	112.50	114.50	118.50	120.25	117.25	121.00	120.50	120.25	113.0323
Heavy Louisiana Sweet (Onshore)	117.75	115.50	114.75	117.00	120.75	122.75	119.75	123.50	122.75	122.75	115.3952
Light Louisiana Sweet (Onshore)	115.25	113.00	112.25	114.25	118.00	120.00	117.00	120.75	120.25	120.00	112.7903
New Mexico Intermediate	85.00	82.75	81.75	84.00	87.75	89.75	86.75	90.50	90.00	89.75	82.8387
New Mexico Sour (34ï¿½)	80.25	78.00	77.00	79.25	83.00	85.00	82.00	85.75	85.25	85.00	78.0887
North Texas Sweet	85.00	82.75	81.75	84.00	87.75	89.75	86.75	90.50	90.00	89.75	82.8387
Oklahoma Sour	80.25	78.00	77.00	79.25	83.00	85.00	82.00	85.75	85.25	85.00	78.0887
Oklahoma Sweet	85.00	82.75	81.75	84.00	87.75	89.75	86.75	90.50	90.00	89.75	82.8387
Rocky Mountain Condensate	76.09	73.86	73.05	75.15	79.02	80.92	77.95	81.71	81.07	80.94	74.0206
South Texas Light Sweet	83.00	80.75	79.75	82.00	85.75	87.75	84.75	88.50	88.00	87.75	80.8387
Southwest Wyoming Sweet	81.09	78.86	78.05	80.15	84.02	85.92	82.95	86.71	86.07	85.94	79.0206
Uinta Basin Black Wax	75.34	73.11	72.30	74.40	78.27	80.17	77.20	80.96	80.32	80.19	73.2706
West Texas Intermediate	85.00	82.75	81.75	84.00	87.75	89.75	86.75	90.50	90.00	89.75	82.8387
West Texas Sour (34ï¿½)	80.25	78.00	77.00	79.25	83.00	85.00	82.00	85.75	85.25	85.00	78.0887
Western Colorado	78.34	76.11	75.30	77.40	81.27	83.17	80.20	83.96	83.32	83.19	76.2706

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.