Several large, internationally active, U.S.-based companies have recently reported sizable gains in oil and gas reserves in 1996.
The biggest reserves addition in absolute terms reported to date belongs to Exxon Corp. However, Amoco Corp. scored the largest percentage gain.
Exxon Corp. says that its worldwide additions to proved oil and gas reserves totaled more than 1.1 billion BOE 1996, replacing 108% of its 1996 production.
Exxon chairman Lee Raymond said, "This year's strong performance is the third year in a row that we've exceeded 100% replacement. Over the last 10 years, we've added 10.6 billion BOE to proved reserves, more ...