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Economic Performance

Improving Transparency

Improving Transparency

2005 KEY OUTCOMES
Established an accounting and auditing complaints procedure and hotline to provide employees with a vehicle to report questionable accounting and auditing practices.
Generated $4,672 billion in cash flow.
Became the first Canadian company to officially support the Extractive Industries Transparency Initiative (EITI).
Provided 2,615 billion in royalties and taxes to host governments.
Produced 470 mboe/d.
2006 Plans
Boost exploration and development expenditures by 38% to $4.4 billion.
Expect to average between 515,000 to 545,000 boe/d.
Intend to divest of about 10,000 to 15,000 boe/d of production from noncore assets in Western Canada and the North Sea.
Project cash provided by operating activities to be $5.2 to $5.6 billion.
Drill 685 gross wells in North America with large programs in the Alberta Foothills, Bigstone/Wild River, Edson, Deep Basin, Appalachia and Monkman areas.