Chevron Crude Oil Marketing - North America - May 2016 East of the Rockies Summary

North America Crude Oil Marketing - May 2016 Summary East of the Rockies Bulletins 16-E83 to 16-E103, 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	E83 05/02	E84 05/03	E85 05/04	E86 05/05	E87 05/06	E88 05/09	E89 05/10	E90 05/11	E91 05/12	E92 05/13	E93 05/16
Altamont Yellow Wax	40.03	38.9	39.03	39.57	39.91	38.69	39.91	41.48	41.95	41.46	42.97
Rocky Mountain Condensate	35.28	34.15	34.28	34.82	35.16	33.94	35.16	36.73	37.2	36.71	38.22
Southwest Wyoming Sweet	41.03	39.9	40.03	40.57	40.91	39.69	40.91	42.48	42.95	42.46	43.97
Uinta Basin Black Wax	39.03	37.9	38.03	38.57	38.91	37.69	38.91	40.48	40.95	40.46	41.97
Western Colorado	36.28	35.15	35.28	35.82	36.16	34.94	36.16	37.73	38.2	37.71	39.22

East of the Rockies	E94 05/17	E95 05/18	E96 05/19	E97 05/20	E98 05/23	E99 05/24	E100 05/25	E101 05/26	E102 05/27	E103 05/31	Mthly Avg
Altamont Yellow Wax	43.56	43.44	43.41	43	43.33	43.87	44.81	44.73	44.58	44.35	42.1494
Rocky Mountain Condensate	38.81	38.69	38.66	38.25	38.58	39.12	40.06	39.98	39.83	39.6	37.3994
Southwest Wyoming Sweet	44.56	44.44	44.41	44	44.33	44.87	45.81	45.73	45.58	45.35	43.1494
Uinta Basin Black Wax	42.56	42.44	42.41	42	42.33	42.87	43.81	43.73	43.58	43.35	41.1494
Western Colorado	39.81	39.69	39.66	39.25	39.58	40.12	41.06	40.98	40.83	40.6	38.3994

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.