Table 11.Finding Costs by Region for FRS Companies, 2004-2006 and
2005-2007 (2007 Dollars per Barrel of Oil Equivalent)
Region
2004-
2006
2005-
2007
Percent Change
United States Onshore
11.54
13.38
15.9
Offshore
65.49
49.54
-24.3
Total United States
15.95
17.01
6.6
Foreign Canada
19.89
12.20
-38.6
Europe
23.41
31.58
34.9
Former Soviet Union
NM
NM
NM
Africa
26.36
38.24
45.1
Middle East
5.41
4.77
-11.8
Other Eastern Hemisphere
13.03
20.56
57.8
Other Western Hemisphere
43.87
30.30
-30.9
Total Foreign
20.06
20.70
3.2
Worldwide
17.65
18.49
4.8
Notes: NM = Not
meaningful.The above figures are
3-year weighted averages of exploration and development expenditures,
excluding expendituresfor proven
acreage, divided by reserve additions, excluding net purchases of
reserves.Natural gas is converted to
equivalent barrels of oil at 0.178 barrels per thousand cubic feet.Sum of components may not add to total due
to independent rounding.
Source:Energy Information
Administration, Form EIA-28 (Financial Reporting System).