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Exxon Mobil Corporation announces 2013 reserves replacement totaled 103 percent


Published Feb 24, 2014
ExxonMobil

Exxon Mobil Corporation announced it replaced 103 percent of its 2013 production by adding proved oil and gas reserves totaling 1.6 billion oil-equivalent barrels, including a 153 percent replacement ratio for crude oil and other liquids.

'Our industry-leading record of long-term reserves replacement demonstrates the success of our global strategy to identify, evaluate, pursue and capture high-quality opportunities,' said Rex W. Tillerson, chairman and chief executive officer. 'The size and diversity of ExxonMobil's global resource base, the largest held by an international oil company, provide us with unequaled investment flexibility to profitably develop new supplies of energy to meet future demand.'

At year-end 2013, ExxonMobil's proved reserves totaled 25.2 billion oil-equivalent barrels, which was made up of 53 percent liquids, up from 51 percent in 2012, and 47 percent natural gas.

Tags: Exxon Mobil Corporation




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