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ExxonMobil: Oil to account for most new production in 5 years

03/28/2011
Paula DittrickSenior Staff WriterExxonMobil Corp. expects to add nearly 1.4 million boe/d net to its production by 2016, and oil will account for 80% of that new production, company executives recently told analysts in New York."There is no bias for us one way or the other," ExxonMobil's Chairman and Chief Executive Officer Rex Tillerson said of the company's oil-gas production ratio. "Our bias is to make money." During 2010, ExxonMobil's overall production was 54% oil. Total 2010 average production was 4.5 million boe/d.ExxonMobil plans to deliver 120,000 boe/d net in 2011 from 2010 project startups. The company's average reserve replacement unit cost during 2005-09 w...
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