Exxon 2015 Annual Report Download - page 32

Download and view the complete annual report

Please find page 32 of the 2015 Exxon annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 52

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52

Upstream Statistical Recap 2015 2014 2013 2012 2011
Earnings (millions of dollars) 7,101 27,548 26,841 29,895 34,439
Liquids production (net, thousands of barrels per day) 2,345 2,111 2,202 2,185 2,312
Natural gas production available for sale
(net, millions of cubic feet per day) 10,515 11,145 11,836 12,322 13,162
Oil-equivalent production(1) (net, thousands of barrels per day) 4,097 3,969 4,175 4,239 4,506
Proved reserves replacement ratio(2)(3) (percent) 69 111 106 124 116
Resource additions(2) (millions of oil-equivalent barrels) 1,378 3,206 6,595 4,012 4,086
Average capital employed(2) (millions of dollars) 169,954 164,965 152,969 139,442 129,807
Return on average capital employed(2) (percent) 4.2 16.7 17.5 21.4 26.5
Capital and exploration expenditures(2) (millions of dollars) 25,407 32,727 38,231 36,084 33,091
(1) Natural gas converted to oil-equivalent at 6 million cubic feet per 1 thousand barrels.
(2) See Frequently Used Terms on pages 44 and 45.
(3) Proved reserves exclude asset sales.
UpstreamUpstream
Strategies
• Apply effective risk management and safety standards
to achieve operational excellence
• Capture significant and accretive resources to
highgrade the portfolio of opportunities
• Exercise a disciplined approach to investing
and cost management
• Develop and apply high-impact technologies
• Pursue productivity and efficiency gains to reduce cost
• Grow profitable oil and gas production
• Capitalize on growing natural gas and power markets
2015 Results & Highlights
•   Achieved strong safety and operational performance
•   Delivered earnings of $7.1 billion and leading
return on average capital employed of 4.2 percent,
averaging 27.4 percent over the past 10 years
•   Proved oil and natural gas reserves additions of 
1.0 billion oil-equivalent barrels
•   Added 1.4 billion oil-equivalent barrels of new resource 
and maintained a total resource base of 91 billion
oil-equivalent barrels
•   Completed six major Upstream projects, which added 
almost 300 thousand oil-equivalent barrels per day of
working interest production capacity, highlighted by two deepwater projects offshore West Africa and an 
expansion of the Kearl development in Canada
•   Made a significant oil discovery offshore Guyana, with additional exploration activities planned in 2016
•   Progressed a large and diverse portfolio of LNG opportunities by advancing concept selection and engineering 
work on opportunities in North America, Australia, and Africa