Exxon 2007 Annual Report Download - page 22

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ExxonMobil is positioned to identify, evaluate, pursue,
and capture all high-quality exploration opportunities.
ExxonMobil’s gross undeveloped exploration acreage
totaled 118 million acres in 31 countries at year-end 2007.
This geographically and geologically diverse, high-quality
portfolio balances risk and reward to deliver both
near-term production and long-term resource growth.
G ROW I N G T H E R E S O U RCE BASE
The success of our approach is demonstrated by the
addition of an average of 3.1 billion oil-equivalent barrels
to the resource base per year over the past five years. The
result is a resource base of 72 billion oil-equivalent barrels.
Finding and resource-acquisition costs have averaged
$0.55 per oil-equivalent barrel over the past five years.
DISCI P LINED A PPR OA CH TO P ROV E D R E S E R V E S
All reserves additions and revisions follow a rigorous and
structured management review process that is stewarded
by a team of experienced reserves experts with global
responsibility. ExxonMobil has added over 8.7 billion oil-
equivalent barrels to proved reserves over the past five
years, replacing 110 percent of production. Total proved
reserves of 22.7 billion oil-equivalent barrels would yield
14.4 years of production at current levels.
2 0 0 7 KEY E X P LOR AT ION CAPTU R E S
• Acquired equity in two blocks totaling over
2.1 million acres near the Jansz gas discovery
offshore Western Australia
• Acquired interest in an 820,000-acre block in the
Bonaparte Basin, offshore northern Australia
• Awarded a 500,000-acre block in the
Beaufort Sea, Canada
(1) See Frequently Used Terms on pages 44 through 45.
Non-proved
Proved
80
70
60
50
40
30
20
10
Resource Base (1)
(billions of oil-equivalent barrels at year end)
20071997
3.5
3.0
2.5
2.0
1.5
1.0
0.5
Resource Additions and Acquisitions(1)
(billions of oil-equivalent barrels)
5-Year
Average
10-Year
Average
2007
5-Year
Average
2007 10-Year
Average
1.00
0.80
0.60
0.40
0.20
Finding and
Resource–Acquisition Costs(1)
(dollars per oil-equivalent barrel)
An active drilling program contributed to the 2.0 billion oil-equivalent
barrels of new resources that ExxonMobil added to our industry-
leading resource base in 2007.
Identify and Pursue All Attractive
Exploration Opportunities
• Awarded four exploration licenses covering 1.3 million
acres in the Lower Saxony Basin, Germany
• Awarded equity in two blocks covering nearly 6.7 million
acres offshore western Greenland
• Awarded the 1-million-acre deepwater Mandar block
in the Makassar Strait, Indonesia
• Awarded a 2.5-million-acre block offshore Libya
• Awarded a 4-million-acre license in the Great South Basin,
offshore New Zealand
• Awarded five licenses in the U.S. Central Gulf of Mexico
Lease Sale 205
E X X O N M O B I L C O R P O R A T I O N • 2 0 0 7 S U M M A R Y A N N U A L R E P O R T
20