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Upstream
UPSTREAM STATISTICAL RECAP 2011 2010 2009 2008 2007
Earnings (millions of dollars) 34,439
24,097 17,107 35,402 26,497
Liquids production (net, thousands of barrels per day) 2,312
2,422 2,387 2,405 2,616
Natural gas production available for sale
(net, millions of cubic feet per day) 13,162
12,148 9,273 9,095 9,384
Oil-equivalent production(1) (net, thousands of barrels per day) 4,506
4,447 3,932 3,921 4,180
Proved reserves replacement(2)(3) (percent) 116
211 100 143 107
Resource additions(2) (millions of oil-equivalent barrels) 4,086
14,580 2,860 2,230 2,010
Average capital employed(2) (millions of dollars) 129,807
103,287 73,201 66,064 63,565
Return on average capital employed(2) (percent) 26.5
23.3 23.4 53.6 41.7
Capital and exploration expenditures(2) (millions of dollars) 33,091
27,319 20,704 19,734 15,724
(1) Natural gas converted to oil-equivalent at 6 million cubic feet per 1 thousand barrels.
(2) See Frequently Used Terms on pages 44 and 45.
(3) Proved reserves exclude asset sales and the 2007 Venezuela expropriation. Includes non-consolidated interests and Canadian oil sands.
ExxonMobil’s 2011 Upstream financial and operating results included strong safety and
environmental performance, high facility reliability, continued operational and capital spending
discipline, and solid production volume growth.
RESULTS & HIGHLIGHTS
Strong safety and operations performance supported by effective risk management
Industry-leading earnings of $34.4 billion
Return on average capital employed of 26.5 percent, averaging 33.7 percent over the last five years
Earnings per oil-equivalent barrel of $20.94
Total net production of 4.5 million oil-equivalent barrels per day, an increase of 1 percent versus 2010
Proved oil and natural gas reserve additions of 2.0 billion oil-equivalent barrels, replacing
116 percent of production, excluding asset sales
Resource base additions totaling 4.1 billion oil-equivalent barrels, increasing the overall resource base
to 87 billion oil-equivalent barrels
Exploration resource addition cost of $1.40 per oil-equivalent barrel
Upstream capital and exploration spending of $33.1 billion with total investment over the past five years
at more than $116 billion
Made a significant oil discovery in the U.S. Gulf of Mexico with the Hadrian-5 exploration well
Signed a strategic cooperation agreement with Rosneft
30 ExxonMobil • 2011 Summary Annual Report