ExxonMobil replaces 103% of 2013 production

ExxonMobil Corp. replaced 103% of its oil and natural gas production last year with additions to reserves, mostly of crude oil and other liquids.

At yearend 2013, the company’s reserves totaled 25.2 billion boe, 53% liquids.

According to a press statement, ExxonMobil added 1.2 billion bbl of liquids reserves during 2013, 153% of production. Gas reserves additions totaled 400 million boe, 52% of production. Without asset sales, the overall replacement factor would have been 106%.

ExxonMobil added reserves exceeding 700 million bbl of crude oil at Upper Zakum field offshore Abu Dhabi last year and more than 300 million boe of oil and gas reserves from the liquids-rich Woodford, Bakken, and Permian plays in the US and the Montney and Duvernay plans in Canada. It also added reserves elsewhere in Canada and in Kazakhstan, the Gulf of Mexico, Nigeria, and the Netherlands.

The company also added 6.6 billion boe to its resource base, mainly in Canada, Argentina, Tanzania, the United Arab Emirates, and the US. At yearend, ExxonMobil’s resource base, encompassing reserves plus other discoveries expected ultimately to be recovered, totaled 91 billion boe of oil and gas.

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