Exxon 2010 Annual Report Download - page 18

2010 Key Opportunity Captures
• 130,000 net acres in the Neuquen Province in Argentina through license rounds and joint ventures.
• 36,000 net acres in the Horn River Basin shale gas play, in Canada.
• Agreement with Iraq Ministry of Oil to redevelop and expand the West Qurna (Phase I) oil field (ExxonMobil interest,
60 percent).
• 35-percent working interest in deepwater Block 2 in Tanzania, covering 2.7 million acres.
• 25-percent interest in three sub-blocks of License 3922 in Turkey, covering approximately 7.4 million acres.
• 67,000 net acres in Haynesville and Bossier shale gas plays in East Texas and Louisiana.
• 157,000 net acres in the Fayetteville Shale in Arkansas.
ExxonMobil’s fundamental exploration strategy is to identify, evaluate, selectively pursue, and capture the highest-quality resource
opportunities, ahead of competition. Our global organization allows us to explore diverse resource opportunities, in all environments.
ExxonMobil Upstream is focused on the pursuit of:
• New exploration plays that typically have high
uncertainty but large resource potential;
• Further tests in established hydrocarbon basins;
• Unconventional resources, both oil and gas; and,
• Discovered fields that are undeveloped or partially developed.
All opportunities are screened on a rigorous, consistent basis for
technical quality, materiality, and commercial viability. We use our
unique geoscience capabilities and understanding of the global
hydrocarbon potential to identify, evaluate, and prioritize the highest-
quality resource opportunities. Only the most robust opportunities
are selected for further evaluation.
Our approach to exploration has resulted in the
successful capture of many new, high-potential
resource opportunities. In 2010, we captured new
opportunities in nine countries. At year-end 2010,
ExxonMobil’s net exploration acreage totaled 62 million
acres in 33 countries.
Over the last five years, ExxonMobil has added, on
average, 5.2 billion oil-equivalent barrels per year to our
resource base. These additions reflect opportunities
across a diverse range of resource types. Our
exploration resource addition cost has averaged
$1.00 per oil-equivalent barrel over this period.
At year-end 2010, the total resource base stood
at 84 billion oil-equivalent barrels, including 10 billion
oil-equivalent barrels associated with the XTO fields.
All proved reserves additions and revisions are the
result of a rigorous and structured management review process that is stewarded by a team of experienced reserves experts.
In 2010, ExxonMobil added 3.5 billion oil-equivalent barrels to proved reserves, more than twice our production, led by the
XTO merger. ExxonMobil has now replaced reserves for 17 consecutive years. Our additions come from a combination of the
development of new fields, extensions to existing fields driven by further development, effective reservoir management,
and application of new technologies, as well as strategic acquisitions.
Deepwater
Heavy Oil/Oil Sands
Arctic
Acid/Sour
Unconventional Gas & Oil
LNG
Conventional
(percent, oil-equivalent barrels)
Resource Base by Type
Eric฀Whetstone฀•฀Whetstone฀Design฀
office:฀214-583-6118฀•฀cell:฀
EDITOR
Gloria฀Moncada฀•฀Investor฀Relations
Exxon฀Mobil฀Corporation,฀Irving,฀TX
office:฀972-444-1151฀•฀cell:310-505-2771
Carol฀Zuber-Mallison฀•฀ZM฀Graphics,฀Inc.
studio/cell:฀214-906-4162฀•฀fax:฀817-924-7784
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Identify and Selectively Capture the Highest-Quality Exploration Opportunities
Our deepwater drilling program in the Philippines, with the
West Aquarius rig, discovered gas in three of four wells.
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EXXON฀MOBIL฀CORPORATION฀ •฀ 2010฀SUMMARY฀ANNUAL฀REPORT