Chevron Crude Oil Marketing - North America - February 2012 East of the Rockies Summary

North America Crude Oil Marketing - February 2012 Summary East of the Rockies Bulletins 12-E21 to 12-E39, 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	E21 02/01	E22 02/02	E23 02/03	E23 02/06	E24 02/07	E25 02/08	E26 02/09	E27 02/10	E28 02/13	E29 02/14	E30 02/15	Gvty Adj*
Altamont Yellow Wax	84.11	82.86	84.34	83.41	84.91	85.21	86.34	85.17	87.41	87.24	88.30	B
Bonito Sour (Onshore)	106.00	104.75	106.25	105.25	106.75	107.00	108.25	107.00	109.25	109.00	110.25	A
Deepwater Sour (Onshore) (30ï¿½)	104.50	103.25	104.75	103.75	105.25	105.50	106.75	105.50	107.75	107.50	108.50	F,G
East Texas	94.00	92.75	94.25	93.25	94.75	95.00	96.25	95.00	97.25	97.00	98.00	none
Eugene Island Sour (Onshore)	106.50	105.25	106.50	105.75	107.25	107.50	108.50	107.50	109.75	109.50	110.50	A
Heavy Louisiana Sweet (Onshore)	109.00	107.75	109.25	108.25	109.75	110.25	111.25	110.00	112.25	112.25	113.25	A
Light Louisiana Sweet (Onshore)	107.25	106.00	107.50	106.50	108.00	108.25	109.50	108.25	110.50	110.50	111.50	A
New Mexico Intermediate	94.25	93.00	94.50	93.50	95.00	95.25	96.50	95.25	97.50	97.25	98.25	none
New Mexico Sour (34ï¿½)	91.25	90.00	91.50	90.50	92.00	92.25	93.50	92.25	94.50	94.25	95.25	none
North Texas Sweet	94.25	93.00	94.50	93.50	95.00	95.25	96.50	95.25	97.50	97.25	98.25	none
Oklahoma Sour	91.25	90.00	91.50	90.50	92.00	92.25	93.50	92.25	94.50	94.25	95.25	none
Oklahoma Sweet	94.25	93.00	94.50	93.50	95.00	95.25	96.50	95.25	97.50	97.25	98.25	none
Rocky Mountain Condensate	86.36	85.11	86.59	85.66	87.16	87.46	88.59	87.42	89.66	89.49	90.55	H
South Texas Light Sweet	92.25	91.00	92.50	91.50	93.00	93.25	94.50	93.25	95.50	95.25	96.25	none
Southwest Wyoming Sweet	91.86	90.61	92.09	91.16	92.66	92.96	94.09	92.92	95.16	94.99	96.05	E
Uinta Basin Black Wax	83.11	81.86	83.34	82.41	83.91	84.21	85.34	84.17	86.41	86.24	87.30	B
West Texas Intermediate	94.25	93.00	94.50	93.50	95.00	95.25	96.50	95.25	97.50	97.25	98.25	none
West Texas Sour (34ï¿½)	91.25	90.00	91.50	90.50	92.00	92.25	93.50	92.25	94.50	94.25	95.25	none
Western Colorado	88.11	86.86	88.34	87.41	88.91	89.21	90.34	89.17	91.41	91.24	92.30	B

East of the Rockies	E31 02/16	E32 02/17	E33 02/21	E34 02/22	E35 02/23	E36 02/24	E37 02/27	E38 02/28	E39 02/29	Mthly Avg
Altamont Yellow Wax	88.81	89.74	91.59	92.03	93.58	95.52	94.31	92.30	92.82	88.5959
Bonito Sour (Onshore)	110.75	111.50	114.25	114.75	116.25	118.25	117.00	115.00	115.50	110.7069
Deepwater Sour (Onshore) (30ï¿½)	109.00	110.00	112.75	113.00	114.50	116.50	115.25	113.25	113.75	109.1207
East Texas	98.50	99.50	102.25	102.50	104.25	106.00	104.75	102.75	103.50	98.6379
Eugene Island Sour (Onshore)	111.00	112.00	114.50	115.00	116.50	118.50	117.25	115.25	115.75	111.0776
Heavy Louisiana Sweet (Onshore)	113.75	114.75	117.25	117.75	119.25	121.25	120.00	118.00	118.50	113.7586
Light Louisiana Sweet (Onshore)	112.00	113.00	115.50	116.00	117.50	119.50	118.25	116.25	116.75	112.0000
New Mexico Intermediate	98.75	99.75	102.50	102.75	104.50	106.25	105.00	103.00	103.75	98.8879
New Mexico Sour (34ï¿½)	95.75	96.75	99.50	99.75	101.50	103.25	102.00	100.00	100.75	95.8879
North Texas Sweet	98.75	99.75	102.50	102.75	104.50	106.25	105.00	103.00	103.75	98.8879
Oklahoma Sour	95.75	96.75	99.50	99.75	101.50	103.25	102.00	100.00	100.75	95.8879
Oklahoma Sweet	98.75	99.75	102.50	102.75	104.50	106.25	105.00	103.00	103.75	98.8879
Rocky Mountain Condensate	91.06	91.99	94.09	94.53	96.08	98.02	96.81	94.80	95.32	90.9234
South Texas Light Sweet	96.75	97.75	100.50	100.75	102.50	104.25	103.00	101.00	101.75	96.8879
Southwest Wyoming Sweet	96.56	97.49	99.59	100.03	101.58	103.52	102.31	100.30	100.82	96.4234
Uinta Basin Black Wax	87.81	88.74	90.59	91.03	92.58	94.52	93.31	91.30	91.82	87.5959
West Texas Intermediate	98.75	99.75	102.50	102.75	104.50	106.25	105.00	103.00	103.75	98.8879
West Texas Sour (34ï¿½)	95.75	96.75	99.50	99.75	101.50	103.25	102.00	100.00	100.75	95.8879
Western Colorado	92.81	93.74	95.59	96.03	97.58	99.52	98.31	96.30	96.82	92.5959

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.