The Securities and Exchange Commission only lets oil and natural gas companies disclose reserves anticipated to be economically producible, as of a given date, by application of development projects to known accumulations of oil and gas. We use terms such as reported reserves, expected ultimate recovery (EUR), potential reserves or resources, discovery volumes, recoverable resources, risked reserves, prospective acreage and oil in place, that we cannot report in our SEC filings. These represent our internal estimates of volumes of oil and gas and are not proved reserves but are potentially recoverable. These estimates are more speculative than proved, probable or possible reserves and subject to greater risk they will not be realized. Also, portions of these videos have statements about the future that involve risks and uncertainties that could materially affect our expected results of operations, liquidity, cash flows and business prospects. We do not update these videos with new information, so you should not rely on them. If you want to know about things that could change our expectations, read the “Risk Factors” section of our most recent 10-K available on the Annual Report page on our website. Also, Finding and Development costs compare costs and reserves from separate periods.
The following is a reconciliation of certain non-GAAP financial measures used on the website and in Oxy media presentations to the most comparable Generally Accepted Accounting Principles (GAAP) measure: