| CASH FLOWS FROM OPERATING ACTIVITIES | |
| Net income | 1.27B |
| Adjustments to reconcile net income to net cash provided by operating activities | |
| Depreciation, depletion and amortization | 679M |
| Exploratory dry hole costs and lease impairment | 30M |
| Provision (benefit) for deferred income taxes | 141M |
| (Income) loss from equity investment in HOVENSA L.L.C. | |
| Gains on asset sales | |
| Stock compensation expense | 12M |
| Changes in operating assets and liabilities and other | |
| Net cash provided by operating activities | 819M |
| CASH FLOWS FROM INVESTING ACTIVITIES | |
| Capital expenditures | -1.51B |
| Proceeds from asset sales | 1.33B |
| Other, net | -66M |
| Net cash used in investing activities | -261M |
| Debt with maturities of greater than 90 days | |
| Borrowings | 185M |
| Repayments | -24M |
| Cash dividends paid | -35M |
| Other, net | 31M |
| Net cash used in financing activities | -756M |
| NET INCREASE IN CASH AND CASH EQUIVALENTS | -198M |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 642M |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD | 444M |