Chevron Crude Oil Marketing - North America - December 2014 East of the Rockies Summary

North America Crude Oil Marketing - December 2014 Summary East of the Rockies Bulletins 14-E231 to 14-E252, 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	E231 12/01	E232 12/02	E233 12/03	E234 12/04	E235 12/05	E236 12/08	E237 12/09	E238 12/10	E239 12/11	E240 12/12	E241 12/15	E242 12/16
Altamont Yellow Wax	52	49.88	50.38	49.81	48.84	46.05	46.82	43.94	42.95	40.81	38.91	38.93
Rocky Mountain Condensate	57	54.88	55.38	54.81	53.84	51.05	51.82	48.94	47.95	45.81	43.91	43.93
Southwest Wyoming Sweet	61.75	59.63	60.13	59.56	58.59	55.8	56.57	53.69	52.7	50.56	48.66	48.68
Uinta Basin Black Wax	51	48.88	49.38	48.81	47.84	45.05	45.82	42.94	41.95	39.81	37.91	37.93
Western Colorado	58	55.88	56.38	55.81	54.84	52.05	52.82	49.94	48.95	46.81	44.91	44.93

East of the Rockies	E243 12/17	E244 12/18	E245 12/19	E246 12/22	E247 12/23	E248 12/24	E249 12/26	E250 12/29	E251 12/30	E252 12/31	Mthly Avg
Altamont Yellow Wax	39.47	37.11	39.52	38.26	40.12	38.84	37.73	36.61	37.12	36.27	42.0326
Rocky Mountain Condensate	44.47	42.11	44.52	43.26	45.12	43.84	42.73	41.61	42.12	41.27	47.0326
Southwest Wyoming Sweet	49.22	46.86	49.27	48.01	49.87	48.59	47.48	46.36	46.87	46.02	51.7826
Uinta Basin Black Wax	38.47	36.11	38.52	37.26	39.12	37.84	36.73	35.61	36.12	35.27	41.0326
Western Colorado	45.47	43.11	45.52	44.26	46.12	44.84	43.73	42.61	43.12	42.27	48.0326

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.