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

North America Crude Oil Marketing - March 2011 Summary East of the Rockies Bulletins 11-E41 to 11-E63, 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	E41 03/01	E42 03/02	E43 03/03	E44 03/04	E45 03/07	E46 03/08	E47 03/09	E48 03/10	E49 03/11	E50 03/14	E51 03/15	E52 03/16	Gvty Adj*
Altamont Yellow Wax	85.63	88.23	87.91	90.42	91.44	91.02	90.38	88.70	87.16	87.19	83.18	83.98	B
Bonito Sour (Onshore)	108.50	111.25	110.75	113.25	114.25	114.00	113.25	111.75	110.00	110.00	106.00	107.00	A
Deepwater Sour (Onshore) (30ï¿½)	105.75	108.50	108.25	110.75	111.75	111.25	110.50	109.00	107.50	107.50	103.50	104.25	F,G
East Texas	96.00	98.50	98.25	100.75	101.75	101.25	100.75	99.00	97.50	97.50	93.50	94.25	none
Eugene Island Sour (Onshore)	109.00	111.50	111.25	113.75	114.75	114.25	113.75	112.00	110.50	110.50	106.50	107.25	A
Heavy Louisiana Sweet (Onshore)	111.50	114.00	113.75	116.25	117.25	116.75	116.25	114.50	113.00	113.00	109.00	109.75	A
Light Louisiana Sweet (Onshore)	111.75	114.25	114.00	116.50	117.50	117.00	116.50	114.75	113.25	113.25	109.25	110.00	A
New Mexico Intermediate	96.25	98.75	98.50	101.00	102.00	101.50	101.00	99.25	97.75	97.75	93.75	94.50	none
New Mexico Sour (34ï¿½)	91.50	94.00	93.75	96.25	97.25	96.75	96.25	94.50	93.00	93.00	89.00	89.75	none
North Texas Sweet	96.25	98.75	98.50	101.00	102.00	101.50	101.00	99.25	97.75	97.75	93.75	94.50	none
Oklahoma Sour	91.50	94.00	93.75	96.25	97.25	96.75	96.25	94.50	93.00	93.00	89.00	89.75	none
Oklahoma Sweet	96.25	98.75	98.50	101.00	102.00	101.50	101.00	99.25	97.75	97.75	93.75	94.50	none
Rocky Mountain Condensate	85.38	87.98	87.66	90.17	91.19	90.77	90.13	88.45	86.91	86.94	82.93	83.73	H
South Texas Light Sweet	94.25	96.75	96.50	99.00	100.00	99.50	99.00	97.25	95.75	95.75	91.75	92.50	none
Southwest Wyoming Sweet	89.63	92.23	91.91	94.42	95.44	95.02	94.38	92.70	91.16	91.19	87.68	88.48	E
Uinta Basin Black Wax	84.63	87.23	86.91	89.42	90.44	90.02	89.38	87.70	86.16	86.19	82.18	82.98	B
West Texas Intermediate	96.25	98.75	98.50	101.00	102.00	101.50	101.00	99.25	97.75	97.75	93.75	94.50	none
West Texas Sour (34ï¿½)	91.50	94.00	93.75	96.25	97.25	96.75	96.25	94.50	93.00	93.00	89.00	89.75	none
Western Colorado	86.63	89.23	88.91	91.42	92.44	92.02	91.38	89.70	88.16	88.19	84.68	85.48	B

East of the Rockies	E53 03/17	E54 03/18	E55 03/21	E56 03/22	E57 03/23	E58 03/24	E59 03/25	E60 03/28	E61 03/29	E62 03/30	E63 03/31	Mthly Avg
Altamont Yellow Wax	87.42	87.07	88.33	90.00	91.75	91.60	91.40	89.98	90.79	90.27	92.72	88.9894
Bonito Sour (Onshore)	110.25	110.00	111.25	113.00	114.75	114.50	114.25	113.00	113.75	113.25	115.75	111.8952
Deepwater Sour (Onshore) (30ï¿½)	107.75	107.25	108.50	110.25	112.00	111.75	111.75	110.25	111.00	110.50	113.00	109.2581
East Texas	97.75	97.50	98.75	100.25	102.00	102.00	101.75	100.25	101.00	100.50	103.00	99.3145
Eugene Island Sour (Onshore)	110.75	110.25	111.50	113.25	115.00	114.75	114.75	113.25	114.00	113.50	116.00	112.2742
Heavy Louisiana Sweet (Onshore)	113.25	112.75	114.00	115.75	117.50	117.50	117.25	115.75	116.50	116.00	118.50	114.7823
Light Louisiana Sweet (Onshore)	113.50	113.00	114.25	116.00	117.75	117.50	117.50	116.00	116.75	116.25	118.75	115.0242
New Mexico Intermediate	98.00	97.75	99.00	100.50	102.25	102.25	102.00	100.50	101.25	100.75	103.25	99.5645
New Mexico Sour (34ï¿½)	93.25	93.00	94.25	95.75	97.50	97.50	97.25	95.75	96.50	96.00	98.50	94.8145
North Texas Sweet	98.00	97.75	99.00	100.50	102.25	102.25	102.00	100.50	101.25	100.75	103.25	99.5645
Oklahoma Sour	93.25	93.00	94.25	95.75	97.50	97.50	97.25	95.75	96.50	96.00	98.50	94.8145
Oklahoma Sweet	98.00	97.75	99.00	100.50	102.25	102.25	102.00	100.50	101.25	100.75	103.25	99.5645
Rocky Mountain Condensate	87.17	86.82	88.08	89.75	91.50	91.35	91.15	89.73	90.54	90.02	92.47	88.7394
South Texas Light Sweet	96.00	95.75	97.00	98.50	100.25	100.25	100.00	98.50	99.25	98.75	101.25	97.5645
Southwest Wyoming Sweet	91.92	91.57	92.83	94.50	96.25	96.10	95.90	94.48	95.29	94.77	97.22	93.2635
Uinta Basin Black Wax	86.42	86.07	87.33	89.00	90.75	90.60	90.40	88.98	89.79	89.27	91.72	87.9894
West Texas Intermediate	98.00	97.75	99.00	100.50	102.25	102.25	102.00	100.50	101.25	100.75	103.25	99.5645
West Texas Sour (34ï¿½)	93.25	93.00	94.25	95.75	97.50	97.50	97.25	95.75	96.50	96.00	98.50	94.8145
Western Colorado	88.92	88.57	89.83	91.50	93.25	93.10	92.90	91.48	92.29	91.77	94.22	90.2635

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.