Exxon 2008 Annual Report Download - page 21

2008 Results and Highlights
Industry-leading workforce safety performance.
Earnings were a record $35.4 billion.
Upstream return on average capital employed was 54 percent,
and has averaged 44 percent over the past five years.
Earnings per oil-equivalent barrel were $24.67, exceeding
those of our competitors.
Total liquids production and natural gas production available
for sale was 3.9 million oil-equivalent barrels per day,
the highest among our competitors.
Replaced 103 percent of production with proved oil and gas
reserve additions of 1.5 billion oil-equivalent barrels, including
asset sales and excluding year-end price/cost effects.
Resource base additions totaled 2.2 billion oil-equivalent
barrels. ExxonMobil’s resource base now stands at 72 billion oil-equivalent barrels.
Finding and resource-acquisition costs were $1.32 per oil-equivalent barrel.
Upstream capital and exploration spending was $19.7 billion, driven by an active exploration program, selective investment
in a strong portfolio of development projects, and continued investment to enhance the value of existing assets.
Eric฀Whetstone฀•฀Whetstone฀Design฀Lab
office:฀214-788-6336฀•฀cell:฀
EDITOR
David฀Bailey฀•฀Investor฀Relations
Exxon฀Mobil฀Corporation,฀Irving,฀TX
office:฀972-444-1135฀•฀cell:214-478-9189
[email protected]
Carol฀Zuber-Mallison฀•฀ZM฀Graphics
studio/cell:฀214-906-4162฀•฀fax:฀817-924-7784
[email protected]
Usage:฀Exclusive฀rights฀within฀ExxonMobil
(c)฀2009,฀ZM฀Graphics฀฀฀Image฀can฀not฀be฀resold
ATTENTION:฀OWNER
Data฀list฀is฀used฀to฀drive฀the฀black฀and฀
template฀for฀the฀color฀chart.฀Bars฀and฀
lines฀are฀cut฀and฀pasted฀from฀the฀black฀
and฀white฀template฀and฀are฀highly฀
accurate.฀However,฀the฀color฀chart฀is฀
NOT฀linked฀to฀the฀database฀and฀is฀NOT฀
“driven”฀by฀the฀data;฀it฀is฀a฀piece฀of฀
artwork฀buiilt฀by฀a฀human.฀Therefore,฀the฀
editor฀needs฀to฀thoroughly฀proof฀the฀final฀
artwork,฀not฀JUST฀the฀data฀list.
VERSION
APPROVED฀BY
Fancher฀/฀Controllers
Feb.฀10,฀2009
FILE฀INFO
LAST฀FILE฀CHANGE฀MADE฀BY
31A฀08XOMF-
UpstrmROCE.ai
Carol James Bill
IN฀F&O฀ON฀PAGE
IN฀SAR฀ON฀PAGE
Note:
Includes฀link฀file
฀"XOM"฀ "Ind"
Ind
XOM
ExxonMobil Integrated฀Oil฀Competitor฀Average(1)
200820072004 2005 2006
60
50
40
30
20
10
Upstream฀Return฀on฀Average฀Capital฀Employed
(percent)
(1) Royal Dutch Shell, BP, and Chevron values are estimated on a consistent
basis with ExxonMobil, based on public information.
IS฀IN
SAR฀and฀F&O
UPSTREAM COMPETITIVE ADVANTAGES
Portfolio฀Quality฀•฀ The quality, size, and diversity of
ExxonMobil’s resource base and project inventory underpin
a strong long-term outlook.
Global฀Integration฀•฀ The global functional Upstream
companies work with the Downstream and Chemical
businesses to identify and deliver integrated solutions that
maximize resource value.
Discipline฀and฀Consistency฀•฀ We explore, develop, produce,
and market using globally deployed management systems
that ensure consistent application of the highest technical,
operational, and commercial standards.
Value฀Maximization฀•฀ From optimum development concept
selection continuing through mid- and late-life investments to
increase reservoir recovery, ExxonMobil maximizes resource
value over the life of each asset.
Long-Term฀Perspective฀•฀ Consistent, selective capital
investment and focused technology development ensure
robust investments over the long term.
UPSTREAM STATISTICAL RECAP 2008 2007 2006 2005 2004
Earnings (millions of dollars) 35,402 26,497 26,230 24,349 16,675
Liquids production (thousands of barrels per day) 2,405 2,616 2,681 2,523 2,571
Natural gas production
available for sale (millions of cubic feet per day) 9,095 9,384 9,334 9,251 9,864
Oil-equivalent production (thousands of barrels per day) 3,921 4,180 4,237 4,065 4,215
Proved reserves replacement(1)(2) (percent) 110 132 129 129 125
Resource additions(2) (millions of oil-equivalent barrels) 2,230 2,010 4,270 4,365 2,940
Average capital employed(2) (millions of dollars) 66,064 63,565 57,871 53,261 50,642
Return on average capital employed(2) (percent) 53.6 41.7 45.3 45.7 32.9
Capital and exploration expenditures(2) (millions of dollars) 19,734 15,724 16,231 14,470 11,715
(1) Excluding asset sales, the 2007 Venezuela expropriation, and year-end price/cost effects.
(2) See Frequently Used Terms on pages 44 through 45.
E X X O N ฀ M O B I L ฀ C O R P O R A T I O N ฀ •฀ 2 0 0 8 ฀ S U M M A R Y ฀ A N N U A L ฀ R E P O R T 19