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

North America Crude Oil Marketing - February 2011 Summary East of the Rockies Bulletins 11-E22 to 11-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	76.77	76.86	76.54	75.03	73.48	72.94	72.71	72.73	71.58	70.81	B
Bonito Sour (Onshore)	93.50	93.75	93.25	91.75	90.25	89.75	89.50	89.50	88.50	87.75	A
Deepwater Sour (Onshore) (30ï¿½)	91.00	91.25	90.75	89.25	87.75	87.25	87.00	87.00	86.00	85.00	F,G
East Texas	87.00	87.25	86.75	85.25	83.75	83.25	83.00	83.00	82.00	81.00	none
Eugene Island Sour (Onshore)	94.00	94.00	93.75	92.25	90.75	90.25	90.00	90.00	88.75	88.00	A
Heavy Louisiana Sweet (Onshore)	95.50	95.50	95.25	93.75	92.25	91.75	91.50	91.50	90.25	89.50	A
Light Louisiana Sweet (Onshore)	96.25	96.50	96.00	94.50	93.00	92.50	92.25	92.25	91.00	90.25	A
New Mexico Intermediate	87.25	87.50	87.00	85.50	84.00	83.50	83.25	83.25	82.25	81.25	none
New Mexico Sour (34ï¿½)	82.50	82.75	82.25	80.75	79.25	78.75	78.50	78.50	77.50	76.50	none
North Texas Sweet	87.25	87.50	87.00	85.50	84.00	83.50	83.25	83.25	82.25	81.25	none
Oklahoma Sour	82.50	82.75	82.25	80.75	79.25	78.75	78.50	78.50	77.50	76.50	none
Oklahoma Sweet	87.25	87.50	87.00	85.50	84.00	83.50	83.25	83.25	82.25	81.25	none
Rocky Mountain Condensate	77.27	77.36	77.04	75.53	73.98	73.44	73.21	73.23	72.08	71.31	H
South Texas Light Sweet	85.25	85.50	85.00	83.50	82.00	81.50	81.25	81.25	80.25	79.25	none
Southwest Wyoming Sweet	82.02	82.11	81.79	80.28	78.73	78.19	77.96	77.98	76.83	76.06	E
Uinta Basin Black Wax	75.77	75.86	75.54	74.03	72.48	71.94	71.71	71.73	70.58	69.81	B
West Texas Intermediate	87.25	87.50	87.00	85.50	84.00	83.50	83.25	83.25	82.25	81.25	none
West Texas Sour (34ï¿½)	82.50	82.75	82.25	80.75	79.25	78.75	78.50	78.50	77.50	76.50	none
Western Colorado	79.02	79.11	78.79	77.28	75.73	75.19	74.96	74.98	73.83	73.06	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	70.32	70.99	72.36	72.20	79.57	84.10	83.28	83.88	82.97	75.5964
Bonito Sour (Onshore)	87.25	87.75	89.25	89.00	96.50	101.00	100.00	100.75	99.75	92.4196
Deepwater Sour (Onshore) (30ï¿½)	84.75	85.25	86.75	86.50	94.00	98.50	97.50	98.25	97.25	89.9107
East Texas	80.75	81.25	82.75	82.50	90.00	94.50	93.50	94.25	93.25	85.9107
Eugene Island Sour (Onshore)	87.50	88.25	89.50	89.50	96.75	101.25	100.50	101.00	100.25	92.8125
Heavy Louisiana Sweet (Onshore)	89.00	89.75	91.00	91.00	98.25	102.75	102.00	102.50	101.75	94.3125
Light Louisiana Sweet (Onshore)	89.75	90.50	92.00	91.75	99.00	103.50	102.75	103.50	102.50	95.1071
New Mexico Intermediate	81.00	81.50	83.00	82.75	90.25	94.75	93.75	94.50	93.50	86.1607
New Mexico Sour (34ï¿½)	76.25	76.75	78.25	78.00	85.50	90.00	89.00	89.75	88.75	81.4107
North Texas Sweet	81.00	81.50	83.00	82.75	90.25	94.75	93.75	94.50	93.50	86.1607
Oklahoma Sour	76.25	76.75	78.25	78.00	85.50	90.00	89.00	89.75	88.75	81.4107
Oklahoma Sweet	81.00	81.50	83.00	82.75	90.25	94.75	93.75	94.50	93.50	86.1607
Rocky Mountain Condensate	70.82	70.74	72.11	71.95	79.32	83.85	83.03	83.63	82.72	75.7482
South Texas Light Sweet	79.00	79.50	81.00	80.75	88.25	92.75	91.75	92.50	91.50	84.1607
Southwest Wyoming Sweet	75.57	74.99	76.36	76.20	83.57	88.10	87.28	87.88	86.97	80.2661
Uinta Basin Black Wax	69.32	69.99	71.36	71.20	78.57	83.10	82.28	82.88	81.97	74.5964
West Texas Intermediate	81.00	81.50	83.00	82.75	90.25	94.75	93.75	94.50	93.50	86.1607
West Texas Sour (34ï¿½)	76.25	76.75	78.25	78.00	85.50	90.00	89.00	89.75	88.75	81.4107
Western Colorado	72.57	71.99	73.36	73.20	80.57	85.10	84.28	84.88	83.97	77.2661

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.