Exxon 2008 Annual Report Download - page 22

Identify and Pursue All Attractive
Exploration Opportunities
ExxonMobil’s exploration strategy is to identify, evaluate,
pursue, and capture the highest-quality opportunities
around the world. ExxonMobil’s net exploration acreage
totaled 73 million acres in 33 countries at year-end 2008.
This geographically and geologically diverse, high-quality
portfolio balances risk and reward to deliver both
production and resource growth.
Growing the Resource Base
The success of our approach is demonstrated by the
addition of an average of 3.2 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.
The timing of large resource additions varies from year to
year and can lead to fluctuations in finding and resource-
acquisition costs. Finding and resource-acquisition costs
have averaged $0.66 per oil-equivalent barrel over the
past five years.
Disciplined Approach to Proved Reserves
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 8.6 billion oil-
equivalent barrels to proved reserves over the past five
years, replacing 110 percent of production. Total proved
reserves of 22.8 billion oil-equivalent barrels at year-end
2008 would yield 15 years of production at current levels.
2008 Key Exploration Captures
• Awarded and acquired interest in 76,000 acres in the
Horn River Basin, Canada
• Acquired equity in 184,300 acres in the Mako Trough in
southeast Hungary
The West Polaris drillship spud the first exploration well on the
ExxonMobil-operated BM-S-22 Block, offshore Brazil in October 2008.
• Awarded the 406,500-acre Gunting Block onshore and
offshore East Java, Indonesia
• Awarded equity in two exploration licenses totaling
778,700 acres in the Porcupine Basin offshore Ireland
• Acquired equity in an oil prospecting license totaling
229,000 acres in the deep water offshore Nigeria
• Awarded equity in a 2.5-million-acre deepwater block
offshore Libya
• Awarded equity in a 1.8-million-acre block in the Black Sea
offshore Romania
• Acquired equity in 17,500 acres in the Piceance Basin,
Colorado
• Awarded six leases totaling 19,400 acres in the
Pennsylvania State Forest Lease Sale
• Awarded 14 blocks in the Gulf of Mexico Central Sale 206
and 128 blocks in the Gulf of Mexico Western Sale 207
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
Carol฀Zuber-Mallison฀•฀ZM฀Graphics
studio/cell:฀214-906-4162฀•฀fax:฀817-924-7784
ATTENTION:฀OWNER VERSION
APPROVED฀BY
Feb.฀19,฀2009
FILE฀INFO
LAST฀FILE฀CHANGE฀MADE฀BY
S20A฀08XOMS-
ResourceBase.ai
Carol James Bill
IN฀F&O฀ON฀PAGE
IN฀SAR฀ON฀PAGE
Note:
Includes฀link฀file
(1) See Frequently Used Terms on pages 44 through 45.
Non-proved
Proved
IS฀IN
SAR฀and฀F&O
Same฀data
in฀horizontal฀form,
in฀F&O
80
60
40
20
Resource฀Base(1)
(billions of oil-equivalent barrels at year end)
20081998
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
R.฀Scott฀/฀Controllers
Feb.฀19,฀2009
FILE฀INFO
LAST฀FILE฀CHANGE฀MADE฀BY
S20B฀08XOMS-
ResourceAdds.ai
Carol Bill
IN฀F&O฀ON฀PAGE
IN฀SAR฀ON฀PAGE
Note:
42฀B
S฀20฀B
Includes฀link฀file
“5-year”฀ 3.16
“10-year”฀ 2.62
“10-year”“5-year”
4.0
3.0
2.0
1.0
Resource฀Additions฀and฀Acquisitions(1)
(billions of oil-equivalent barrels)
5-Year
Average
10-Year
Average
2008
IS฀IN
SAR฀and฀F&O
in฀horizontal฀form,
in฀F&O
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
R.฀Scott฀/฀Controllers
Feb.฀19,฀2009
FILE฀INFO
LAST฀FILE฀CHANGE฀MADE฀BY
S20C฀08XOMS-
FindingCosts.ai
Carol James Bill
IN฀F&O฀ON฀PAGE
IN฀SAR฀ON฀PAGE
Note:
Includes฀link฀file
“10-year”“5-year”
“5-year”฀ 0.66
“10-year”฀ 0.68
5-Year
Average
2008 10-Year
Average
1.6
1.2
0.8
0.4
Finding฀and
Resource-Acquisition฀Costs(1)
(dollars per oil-equivalent barrel)
IS฀IN
SAR฀and฀F&O
Same฀data
in฀horizontal฀form,
in฀F&O
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
20