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

North America Crude Oil Marketing - May 2011 Summary East of the Rockies Bulletins 11-E84 to 11-E104, 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	E84 05/02	E85 05/03	E86 05/04	E87 05/05	E88 05/06	E89 05/09	E90 05/10	E91 05/11	E92 05/12	E93 05/13	E94 05/16	Gvty Adj*
Altamont Yellow Wax	99.52	97.05	95.24	85.80	83.18	88.55	89.88	84.21	84.97	85.65	83.37	B
Bonito Sour (Onshore)	125.25	122.75	121.00	111.50	109.00	114.25	115.50	110.00	110.75	111.50	109.00	A
Deepwater Sour (Onshore) (30ï¿½)	121.25	118.75	117.00	107.50	105.00	110.25	111.75	106.00	106.75	107.50	105.25	F,G
East Texas	109.75	107.25	105.50	96.00	93.50	98.75	100.25	94.50	95.25	96.00	93.75	none
Eugene Island Sour (Onshore)	125.50	123.00	121.25	111.75	109.00	114.50	115.75	110.25	111.00	111.50	109.25	A
Heavy Louisiana Sweet (Onshore)	128.25	125.75	124.00	114.50	111.75	117.25	118.50	112.75	113.50	114.25	112.00	A
Light Louisiana Sweet (Onshore)	128.50	126.00	124.25	114.75	112.00	117.50	118.75	113.25	114.00	114.50	112.25	A
New Mexico Intermediate	110.00	107.50	105.75	96.25	93.75	99.00	100.50	94.75	95.50	96.25	94.00	none
New Mexico Sour (34ï¿½)	105.25	102.75	101.00	91.50	89.00	94.25	95.75	90.00	90.75	91.50	89.25	none
North Texas Sweet	110.00	107.50	105.75	96.25	93.75	99.00	100.50	94.75	95.50	96.25	94.00	none
Oklahoma Sour	105.25	102.75	101.00	91.50	89.00	94.25	95.75	90.00	90.75	91.50	89.25	none
Oklahoma Sweet	110.00	107.50	105.75	96.25	93.75	99.00	100.50	94.75	95.50	96.25	94.00	none
Rocky Mountain Condensate	99.27	96.80	94.99	85.55	82.93	88.30	89.63	83.96	84.72	85.40	83.12	H
South Texas Light Sweet	108.00	105.50	103.75	94.25	91.75	97.00	98.50	92.75	93.50	94.25	92.00	none
Southwest Wyoming Sweet	104.02	101.55	99.74	90.30	87.68	93.05	94.38	88.71	89.47	90.15	87.87	E
Uinta Basin Black Wax	98.52	96.05	94.24	84.80	82.18	87.55	88.88	83.21	83.97	84.65	82.37	B
West Texas Intermediate	110.00	107.50	105.75	96.25	93.75	99.00	100.50	94.75	95.50	96.25	94.00	none
West Texas Sour (34ï¿½)	105.25	102.75	101.00	91.50	89.00	94.25	95.75	90.00	90.75	91.50	89.25	none
Western Colorado	101.02	98.55	96.74	87.30	84.68	90.05	91.38	85.71	86.47	87.15	84.87	B

East of the Rockies	E95 05/17	E96 05/18	E97 05/19	E98 05/20	E99 05/23	E100 05/24	E101 05/25	E102 05/26	E103 05/27	E104 05/31	Mthly Avg
Altamont Yellow Wax	83.91	87.10	85.44	86.49	84.70	86.59	88.32	87.23	87.59	89.70	87.6719
Bonito Sour (Onshore)	108.75	111.75	110.25	111.25	109.50	111.25	113.00	112.00	112.25	114.50	112.9032
Deepwater Sour (Onshore) (30ï¿½)	104.75	108.00	106.25	107.25	105.50	107.50	109.00	108.00	108.50	110.50	109.0000
East Texas	93.25	96.50	94.75	95.75	94.00	96.00	97.75	96.50	97.00	99.00	97.5081
Eugene Island Sour (Onshore)	108.75	112.00	110.25	111.50	109.75	111.50	113.25	112.25	112.50	114.75	113.1048
Heavy Louisiana Sweet (Onshore)	111.50	114.75	113.00	114.25	112.25	114.25	116.00	114.75	115.25	117.25	115.7823
Light Louisiana Sweet (Onshore)	111.75	115.00	113.25	114.50	112.50	114.50	116.25	115.25	115.50	117.50	116.0565
New Mexico Intermediate	93.50	96.75	95.00	96.00	94.25	96.25	98.00	96.75	97.25	99.25	97.7581
New Mexico Sour (34ï¿½)	88.75	92.00	90.25	91.25	89.50	91.50	93.25	92.00	92.50	94.50	93.0081
North Texas Sweet	93.50	96.75	95.00	96.00	94.25	96.25	98.00	96.75	97.25	99.25	97.7581
Oklahoma Sour	88.75	92.00	90.25	91.25	89.50	91.50	93.25	92.00	92.50	94.50	93.0081
Oklahoma Sweet	93.50	96.75	95.00	96.00	94.25	96.25	98.00	96.75	97.25	99.25	97.7581
Rocky Mountain Condensate	83.66	86.85	85.19	86.24	84.45	86.34	88.07	86.98	87.34	89.45	87.4219
South Texas Light Sweet	91.50	94.75	93.00	94.00	92.25	94.25	96.00	94.75	95.25	97.25	95.7581
Southwest Wyoming Sweet	88.41	91.60	89.94	90.99	89.20	91.09	92.82	91.73	92.09	94.20	92.1719
Uinta Basin Black Wax	82.91	86.10	84.44	85.49	83.70	85.59	87.32	86.23	86.59	88.70	86.6719
West Texas Intermediate	93.50	96.75	95.00	96.00	94.25	96.25	98.00	96.75	97.25	99.25	97.7581
West Texas Sour (34ï¿½)	88.75	92.00	90.25	91.25	89.50	91.50	93.25	92.00	92.50	94.50	93.0081
Western Colorado	85.41	88.60	86.94	87.99	86.20	88.09	89.82	88.73	89.09	91.20	89.1719

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.