million ($27.6 million at such time) annually under its transmission contract with ITVD.
ITVD represented approximately 12% of the 2001 revenues of CCUK and approximately 3% of the 2001 consolidated revenues of the Company.
In August 2002, the ITC granted the DTT multiplex licenses previously held by ITVD to CCUK (multiplex C and D) and the BBC (multiplex B, bringing the BBC’s total to two licenses).
The DTT multiplex licenses awarded to CCUK have a term of 12 years, and CCUK has the right to renew the licenses for an additional term of 12 years subject to satisfaction of certain performance criteria.
No license fees were paid to the U. K.  government with respect to the award of the multiplex licenses other than an approximately $76,000 application fee.
Following the award of such licenses, the current U. K.  DTT multiplex licensing structure is as follows:
## Table 0 ##
* Broadcasting service provided in connection with Freeview brand.
On October 30, 2002, the BBC, CCUK and BSkyB launched a multi-channel digital TV and radio broadcasting service under the brand “Freeview.
” Freeview is a free-to-air broadcast service and is received by viewers via a settop box or other device.
At the end of 2003, there were approximately three million such devices in service, in contrast to the approximately 1.2 million set-top boxes in service with respect to ITVD service 20 months prior.
Our revenue derived from broadcast transmission services (including distribution and multiplexing) relating to Freeview is contractually based and therefore is not directly dependent on the number of Freeview viewers.
In connection with the launch of Freeview, in August 2002 CCUK entered into an agreement with the BBC to provide broadcast transmission along with distribution service for the second multiplex license (multiplex B) awarded to the BBC.
Also in August 2002, CCUK entered into an agreement with BSkyB to provide broadcast transmission along with distribution and multiplexing service in relation to 75% of the capacity of one of the CCUK multiplexes (multiplex C).
Both of these agreements are for an initial period of six years with options for the BBC and BSkyB to extend for an additional six-year term.
In addition, CCUK has entered into agreements to provide similar service to a number of TV, radio and interactive service content providers (including UKTV, Flextech, Viacom, EMAP, MIETV, OneWord, Guardian Media Group and BBC World Service) through the two multiplexes awarded to CCUK.
Freeview related agreements with the television content providers are also for six-year terms, with renewal options, while agreements with radio and interactive service providers are generally for shorter terms.
Through such agreements, CCUK is currently transmitting content for such customers with respect to approximately 90% of its licensed capacity and is negotiating with content providers with respect to the remaining capacity.
CCUK has contracted annual revenues of approximately ￡27.2 million ($48.5 million) for the provision of transmission, distribution and multiplexing services related to its multiplex licenses, which replaces the approximately ￡19.4 million annual revenues previously earned from the ITVD contract and is in addition to the revenues generated from the 1998 BBC Digital Transmission Contract.
See “Business—The Company—U.
K.  Operations—Significant Contracts—1998 BBC DTT Transmission Contract”, “—2002 BBC DTT Transmission Contract” and “—BSkyB and Other Freeview Content DTT Transmission Contracts.
” As a result of its previous contract with ITVD, CCUK had already invested substantially all of the capital required to provide the Freeview related broadcast transmission service described above.
In addition, CCUK had previously been incurring, again by virtue of its previous contract with ITVD, a large proportion of the operating costs required to provide these services (including payments to BT for distribution circuits and payments to NTL for site rental).
Since CCUK is providing a more complete end-to-end service to content providers than was provided to ITVD, CCUK is incurring certain additional annual operating costs of approximately ￡4.6 million ($8.2 million)
producing well and as long as the Company is making sufficient progress assessing the reserves and the economic and operating viability of the project.
For certain capital-intensive deepwater Gulf of Mexico or international projects, it may take the Company more than one year to evaluate the future potential of the exploration well and make a determination of its economic viability.
The Company’s ability to move forward on a project may be dependent on gaining access to transportation or processing facilities or obtaining permits and government or partner approval, the timing of which is beyond the Company’s control.
In such cases, exploratory well costs remain suspended as long as the Company is actively pursuing access to necessary facilities and access to such permits and approvals and believes they will be obtained.
Management assesses the status of its suspended exploratory well costs on a quarterly basis.
See ‘‘Note 5 – Capitalized Exploratory Well Costs.
’’ Other Property – Other property includes autos, trucks, airplane, office furniture and computer equipment and other fixed assets.
These items are recorded at cost and are depreciated on the straight-line method based on expected lives of the individual assets or group of assets.
Other Assets Other assets consists of the following at December 31:
## Table 1 ##
Marketable securities and receivables related to derivative instruments are valued at current market value.
Other assets are recorded at cost.
Goodwill Goodwill represents the excess of the cost of an acquired entity over the net amounts assigned to assets acquired and liabilities assumed.
The Company accounts for goodwill in accordance with SFAS No.142, ‘‘Goodwill and Other Intangible Assets.
’’ Goodwill is not amortized to earnings but is tested annually during the fourth quarter or whenever events or changes in circumstances indicate that the carrying value may not be recoverable.
Income Taxes Income taxes are accounted for under the asset and liability method.
Deferred tax assets and liabilities are recognized when items of income and expense are recognized in the financial statements in different periods than when recognized in the tax return.
Deferred tax assets arise when expenses are recognized in the financial statements before the tax returns or when income items are recognized in the tax return prior to the financial statements.
Deferred tax assets also arise when operating losses or tax credits are available to offset tax payments due in future years.
Deferred tax liabilities arise when income items are recognized in the financial statements before the tax returns or when expenses are recognized in the tax return prior to the financial statements.
Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.
The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.
Fair Value of Financial Instruments The following methods and assumptions were used to estimate the fair values for each class of financial instruments.
The fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between two willing parties.
Deferred Income Taxes – The amount allocated to deferred income taxes results from differences between the assigned values and the tax bases of the assets acquired and liabilities assumed in accordance with SFAS No.109, ‘‘Accounting for Income Taxes.
’’ The Company is reviewing the historical deferred tax balances as well as the adjustment for the difference in book and tax basis for the fair value of the assets.
Any future adjustments, if necessary, will be reflected as a final purchase price adjustment.
Goodwill – The preliminary allocation of purchase price included approximately $874.8 million of goodwill.
The significant factors that contributed to the recognition of goodwill include, but are not limited to, economies of scale in connection with the Company’s existing domestic operations, and the ability to acquire an established business with an assembled workforce with technological and operational expertise in tight gas sand formations.
The goodwill was assigned to the Company’s domestic reporting unit.
In accordance with SFAS No.142, ‘‘Goodwill and Other Intangible Assets’’, goodwill is not amortized to earnings but is tested, at least annually, for impairment at the reporting unit level.
The Company conducted its goodwill impairment test as of December 31, 2005.
Other events and changes in circumstances, such as a sale of domestic properties, may also require goodwill to be tested for impairment between annual measurement dates.
If the carrying value of goodwill is determined to be impaired, the amount of goodwill is reduced and a corresponding charge is made to earnings in the period in which the goodwill is determined to be impaired.
The Company does not expect the goodwill to be deductible for income tax purposes.
No goodwill impairment was recognized as of December 31, 2005.
In accordance with Emerging Issues Task Force (‘‘EITF’’) Abstract Issue No.00-23, ‘‘Issues Related to the Accounting for Stock Compensation under APB Opinion No.25 and FASB Interpretation No.44’’, the Company has reduced the amount of goodwill originally recorded by $12.0 million for deferred tax assets associated with the exercise of fully-vested stock options assumed in conjunction with the Patina Merger to the extent that the stock-based compensation expense reported for tax purposes did not exceed the fair value of the awards recognized as part of the total purchase price.
Pro Forma Financial Information – The following pro forma condensed combined financial information for the years ended December 31, 2005 and 2004 was derived from the historical financial statements of Noble Energy and Patina and gives effect to the merger as if it had occurred on January 1, 2004.
The pro forma condensed combined financial information has been included for comparative purposes and is not necessarily indicative of the results that might have occurred had the merger taken place as of the dates indicated and is not intended to be a projection of future results.
## Table 2 ##
Note 4 – Effect of Gulf Coast Hurricanes 2005 Hurricane Activity – In August 2005 Hurricane Katrina moved through the Gulf of Mexico and caused the loss of the Main Pass 306D platform.
The net book value of the platform was $14.5 million.
Clean-up costs associated with the damage resulted in an increase to the Main Pass asset retirement obligation of $66.0 million.
The Company has accounted for the net book value of the destroyed platform and the increase in asset retirement costs as a loss on involuntary conversion.
Main Pass clean-up and redevelopment costs are recoverable from insurance proceeds.
However, the insurer has indicated that its maximum exposure limit has been reached and consequently the final
The Company does not consider interest income and expense or income tax benefit or expense in its evaluation of the performance of geographical segments.
## Table 3 ##
(1) The domestic reporting unit includes goodwill of $862.9 million related to the Patina Merger.

<table><tr><td>Multiplex</td><td>Licensee</td><td>Multiplex Service Provider</td><td>Transmission Service Provider</td></tr><tr><td>1</td><td>BBC</td><td>BBC Technology Ltd</td><td>CCUK</td></tr><tr><td>2</td><td>Digital 3&4 Ltd</td><td>NTL</td><td>NTL</td></tr><tr><td>A</td><td>SDN Ltd</td><td>NTL</td><td>NTL</td></tr><tr><td>B</td><td>BBC</td><td>BBC Technology Ltd</td><td>CCUK*</td></tr><tr><td>C</td><td>CCUK</td><td>BBC Technology Ltd</td><td>CCUK*</td></tr><tr><td>D</td><td>CCUK</td><td>BBC Technology Ltd</td><td>CCUK*</td></tr></table>
<table><tr><td> </td><td> 2005 </td><td> 2004 </td></tr><tr><td> </td><td colspan="2"> (in thousands) </td></tr><tr><td>Probable insurance claims</td><td>$112,800</td><td>$84,832</td></tr><tr><td>Receivable related to derivative instruments</td><td>17,259</td><td>20,427</td></tr><tr><td>Marketable securities held by rabbi trust</td><td>39,676</td><td>–</td></tr><tr><td>Deferred loan fees</td><td>9,071</td><td>7,259</td></tr><tr><td>Intangible assets related to retirement plans</td><td>3,827</td><td>3,851</td></tr><tr><td>Other</td><td>37,743</td><td>27,755</td></tr><tr><td>Balance at end of period</td><td>$220,376</td><td>$144,124</td></tr></table>
<table><tr><td> </td><td colspan="2"> Year ended December 31, </td></tr><tr><td> </td><td> 2005 </td><td> 2004 </td></tr><tr><td> </td><td colspan="2"> (in thousands, except per share amounts) </td></tr><tr><td>Revenues</td><td>$2,434,677</td><td>$1,913,786</td></tr><tr><td>Income from continuing operations</td><td>693,091</td><td>387,566</td></tr><tr><td>Net income</td><td>693,091</td><td>402,426</td></tr><tr><td> Earnings per share:</td><td></td><td></td></tr><tr><td>Basic</td><td>$4.03</td><td>$2.38</td></tr><tr><td>Diluted</td><td>3.98</td><td>2.30</td></tr></table>
<table><tr><td> </td><td> Total </td><td> United States </td><td> Equatorial Guinea </td><td> North Sea </td><td>Israel</td><td>Other Int'l, Corporate & Marketing</td></tr><tr><td> </td><td colspan="6">(in thousands)</td></tr><tr><td> Year Ended December 31, 2005</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Revenues from third parties</td><td>$2,095,911</td><td>$913,564</td><td>$281,902</td><td>$123,584</td><td>$65,050</td><td>$711,811</td></tr><tr><td>Intersegment revenue</td><td>–</td><td>460,808</td><td>–</td><td>–</td><td>–</td><td>-460,808</td></tr><tr><td>Income from equity method investments</td><td>90,812</td><td>–</td><td>90,812</td><td>–</td><td>–</td><td>–</td></tr><tr><td>Total Revenues</td><td>2,186,723</td><td>1,374,372</td><td>372,714</td><td>123,584</td><td>65,050</td><td>251,003</td></tr><tr><td>DD&A</td><td>390,544</td><td>311,153</td><td>27,121</td><td>9,888</td><td>11,188</td><td>31,194</td></tr><tr><td>Accretion of discount on asset retirement obligations</td><td>11,214</td><td>9,590</td><td>51</td><td>1,134</td><td>281</td><td>158</td></tr><tr><td>Impairment of operating assets</td><td>5,368</td><td>5,368</td><td>–</td><td>–</td><td>–</td><td>–</td></tr><tr><td>Income from continuing operations before tax</td><td>968,660</td><td>585,988</td><td>309,239</td><td>88,524</td><td>46,468</td><td>-61,559</td></tr><tr><td>Investments in equity method investees</td><td>420,362</td><td>–</td><td>420,362</td><td>–</td><td>–</td><td>–</td></tr><tr><td>Additions to long-lived assets</td><td>4,382,005</td><td>4,345,604</td><td>2,738</td><td>15,287</td><td>5,928</td><td>12,448</td></tr><tr><td>Total assets at December 31, 2005<sup>-1</sup></td><td>8,878,033</td><td>6,577,853</td><td>877,409</td><td>146,311</td><td>266,312</td><td>1,010,148</td></tr><tr><td> Year Ended December 31, 2004</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Revenues from third parties</td><td>$1,272,852</td><td>$335,329</td><td>$132,590</td><td>$115,181</td><td>$48,855</td><td>$640,897</td></tr><tr><td>Intersegment revenue</td><td>–</td><td>455,068</td><td>–</td><td>–</td><td>–</td><td>-455,068</td></tr><tr><td>Income from equity method investments</td><td>78,199</td><td>–</td><td>78,199</td><td>–</td><td>–</td><td>–</td></tr><tr><td>Total Revenues</td><td>1,351,051</td><td>790,397</td><td>210,789</td><td>115,181</td><td>48,855</td><td>185,829</td></tr><tr><td>DD&A</td><td>308,103</td><td>240,058</td><td>13,925</td><td>18,244</td><td>9,058</td><td>26,818</td></tr><tr><td>Accretion of discount on asset retirement obligations</td><td>9,352</td><td>8,021</td><td>6</td><td>1,140</td><td>163</td><td>22</td></tr><tr><td>Impairment of operating assets</td><td>9,885</td><td>9,885</td><td>–</td><td>–</td><td>–</td><td>–</td></tr><tr><td>Income from continuing operations before tax</td><td>513,008</td><td>294,412</td><td>162,576</td><td>70,305</td><td>32,088</td><td>-46,373</td></tr><tr><td>Investments in equity method investees</td><td>377,384</td><td>–</td><td>377,384</td><td>–</td><td>–</td><td>–</td></tr><tr><td>Additions to long-lived assets</td><td>469,445</td><td>280,280</td><td>114,188</td><td>10,795</td><td>-8,313</td><td>72,495</td></tr><tr><td>Total assets at December 31, 2004</td><td>3,435,784</td><td>1,299,547</td><td>809,675</td><td>218,881</td><td>273,347</td><td>834,334</td></tr><tr><td> Year Ended December 31, 2003</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Revenues from third parties</td><td>$963,040</td><td>$120,982</td><td>$60,151</td><td>$100,558</td><td>$–</td><td>$681,349</td></tr><tr><td>Intersegment revenue</td><td>–</td><td>495,261</td><td>–</td><td>–</td><td>–</td><td>-495,261</td></tr><tr><td>Income from equity method investments</td><td>45,186</td><td>–</td><td>45,186</td><td>–</td><td>–</td><td>–</td></tr><tr><td>Total Revenues</td><td>1,008,226</td><td>616,243</td><td>105,337</td><td>100,558</td><td>–</td><td>186,088</td></tr><tr><td>DD&A</td><td>308,586</td><td>254,041</td><td>5,358</td><td>28,219</td><td>40</td><td>20,928</td></tr><tr><td>Accretion of discount on asset retirement obligations</td><td>9,331</td><td>8,449</td><td>–</td><td>882</td><td>–</td><td>–</td></tr><tr><td>Impairment of operating assets</td><td>31,937</td><td>31,937</td><td>–</td><td>–</td><td>–</td><td>–</td></tr><tr><td>Income from continuing operations before tax</td><td>140,405</td><td>105,024</td><td>84,865</td><td>42,373</td><td>-7,743</td><td>-84,114</td></tr><tr><td>Investments in equity method investees</td><td>260,169</td><td>–</td><td>260,169</td><td>–</td><td>–</td><td>–</td></tr><tr><td>Additions to long-lived assets</td><td>371,363</td><td>110,320</td><td>180,371</td><td>6,622</td><td>66,751</td><td>7,299</td></tr><tr><td>Total assets at December 31, 2003</td><td>2,820,800</td><td>1,037,106</td><td>598,814</td><td>163,381</td><td>267,915</td><td>753,584</td></tr></table>

Question: Does the value of Revenues from third parties for Equatorial Guinea greater than that inUnited States?
Answer: no