Exxon 2009 Annual Report Download - page 23

ExxonMobil’s฀exploration฀strategy฀is฀to฀identify,฀
evaluate,฀pursue,฀and฀capture฀the฀highest-quality฀
resource opportunities at the lowest cost in industry.
The strength of our global organization allows us
to explore for and capture a diverse range of resource
types across all geological and geographical
environments,฀using฀industry-leading฀technology฀
and capabilities.
ExxonMobil’s disciplined, systematic exploration process
consistently delivers an industry-leading portfolio of highly
prospective opportunities that provide long-term resource
additions and organic production growth. We use our
unique geoscience capabilities and understanding of the
global hydrocarbon endowment to identify and prioritize
all quality resources. Once identified, opportunities are
assessed and screened on a rigorous, globally consistent
basis for technical and economic viability, as well as
materiality. Only the most robust opportunities are selected
for further evaluation and investment.
Over the last five years, we have added an average of
3.1 billion oil-equivalent barrels per year to our resource
base. We have consistently captured high-quality resources
across a broad range of types, including liquefied natural
gas (LNG), deepwater, unconventional gas, and heavy oil.
Finding and resource-acquisition costs have averaged $0.85
per oil-equivalent barrel over this interval. At year-end 2009,
the total resource base stood at 75 billion oil-equivalent barrels.
All reserves additions and revisions follow a rigorous and
structured management review process stewarded by
a team of experienced reserves experts with global
responsibility. Over the last five years, ExxonMobil has
added 1.8 billion oil-equivalent barrels of proved reserves
per year and, on average, replaced 114 percent of
production every year. 2009 was the 16th consecutive year
in which ExxonMobil has more than replaced production
with new proved reserves. These reserves are determined
on ExxonMobil’s basis using the same price and cost
assumptions that we use to make investment decisions.
Under SEC rules, proved reserves are determined using
historical market prices.
Eric฀Whetstone฀•฀Whetstone฀Design฀Lab
office:฀214-788-6336฀•฀cell:฀
EDITOR
Tracey฀Gunnlaugsson฀•฀Investor฀Relations
Exxon฀Mobil฀Corporation,฀Irving,฀TX
office:฀972-444-1151฀•฀cell:972-849-6202
Carol฀Zuber-Mallison฀•฀ZM฀Graphics
studio/cell:฀214-906-4162฀•฀fax:฀817-924-7784
ATTENTION:฀OWNER VERSION
APPROVED฀BY
Feb.฀12,฀2010
FILE฀INFO
LAST฀FILE฀CHANGE฀MADE฀BY
34D฀09XOMF-
ResrceBaseType.ai
Carol James Bill
IN฀F&O฀ON฀PAGE
IN฀SAR฀ON฀PAGE
Note:
Includes฀link฀file
Deepwater
Heavy Oil/Oil Sands
Conventional
Acid/Sour Gas
Arctic
Unconventional Gas
LNG
(percent, oil-equivalent barrels)
Resource฀Base฀by฀Type
IS฀IN
SAR฀and฀F&O
Identify and Selectively Pursue the Highest-Quality Exploration Opportunities
2009 KEY EXPLORATION CAPTURES
• Awarded 32 blocks in the Gulf of Mexico lease sales.
• Acquired over 125,000 net acres in the Marcellus shale
gas play, in Pennsylvania.
• Acquired 157,000 net acres in the Horn River Basin shale gas
play, Canada, taking ExxonMobil’s total to 309,000 net acres.
• Acquired a 50-percent interest in 33,000 acres of high-quality
oil sands resource in the Athabasca region of Canada.
• Awarded new acreage to pursue coal bed methane opportunities
in Germany, totaling nearly 2 million net acres.
• Acquired approximately 1.3 million net acres in the Podlasie
and Lublin Basins onshore Poland.
• Acquired a 50-percent interest and operatorship of a 736,000-
acre license in the Norwegian Sea.
• Acquired a 50-percent interest in two licenses in the Turkish
sector of the Black Sea, totaling more than 7 million acres.
• Acquired interests in several blocks offshore Vietnam totaling
more than 13 million acres.
• Awarded a production sharing contract for the Cendrawasih block
offshore Papua, Indonesia, covering more than 1 million acres.
• Acquired a 49-percent interest in prospective coal bed methane
acreage onshore Kalimantan, Indonesia, totaling 290,000 net acres.
The new-build semisubmersible drilling rig West Aquarius began
an extensive deepwater drilling program offshore Indonesia and
the Philippines during 2009.
EXXON฀MOBIL฀CORPORATION฀ •฀ 2009฀SUMMARY฀ANNUAL฀REPORT
20