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ExxonMobil Corporation, Company Intelligence Report
GlobalData, July 2012, Pages: 150
ExxonMobil Corporation, Company Intelligence Report
Summary
ExxonMobil Corporation (Exxon) is an integrated oil and gas company involved in the exploration, production and refining and transportation of crude oil and natural gas, and the manufacture of petroleum products. It operates in several countries across the globe with a number of brand names, including ExxonMobil, Exxon, Esso and Mobil. The company’s operations are primarily located in the US, Canada, Europe, Africa, Asia-Pacific, the Middle East, Russia/the Caspian region, and South America.
The company’s business is divided into three segments; upstream, downstream and chemicals. The upstream segment of the company is engaged in exploration, development, production, and marketing of crude oil, Natural Gas Liquids (NGL) and natural gas globally. Exxon’s downstream segment involves the refining and the marketing of crude oil, natural gas, fuels and lubricants across the globe. The company is present in 21 countries, through ownership interests in 36 refineries. Its chemical business involves manufacturing and marketing commodity petrochemicals, including olefins, aromatics, and polyethylene and polypropylene plastics. Exxon also holds interests in electric power generation facilities. Exxon had proved reserves of 24,931.7MMboe at the end of 2011.
Scope
- Key Highlights: This section provides detailed analysis on the company’s overall oil and gas value chain, new projects, growth opportunities, new ventures, assets performance, hedging strategies, Capex funding, geographical results of oil and gas operations.
- Goals and Strategies: This section provides the upcoming goals and strategies of the company. The section mainly goals and strategies followed by the company in order to meet its upcoming goals.
- SWOT: The report’s SWOT section provides the internal strength, weakness, opportunities and threats of company to reflect its strategic positions in the market.
- Production and Development Overview: This section highlights the company’s crude oil and natural gas production forecast from its legacy and upcoming assets by region and commodity mix for next five years. The report also covers the detailed information and analysis on the company’s producing and development assets.
- Exploration: This section includes detailed explanation and analysis on the company’s exploration assets resulted due to new discoveries, new drilling and other activities.
- M&A trends: This section mainly provides information and analysis on the company’s recent assets transactions, joint ventures, acquisition, and divestment activities during the last one year. This section highlights the company’s status as a buyer or seller during the analyzed period.
- Financial Forecast and Valuation: This section highlights the detailed financial statement forecast for next five years. With the financial statement forecast, this section also provides intrinsic value of the company by using Net Asset Valuation method.
- Peer Group Analysis: This section compares the company’s performance with its peer group on the basis of share prices, financial ratios, operational and financial parameters and other related parameters.
- Financial and Operational Metrics: This section covers the company’s historical performance on several financial and operational parameters such as Production and Reserves, Reserves Replacement, Costs Incurred, Acreage, Wells, F&D Costs, Oil and Gas Revenue and Expenses etc.
Reasons to buy
The report will enhance the decision-making capability in a more rapid and time sensitive manner. It will allow you to -
- Provide detailed analysis to those who are interested in knowing the companies’ existing and future business strategies.
- Provide in-depth analysis on the companies E&P profiles along with the exploration and M&A updates.
- Provide valuable insights to those who are tracking oil and gas markets and wants to know the intrinsic value of the companies.
- Use the analysis for strategy and planning, M&A identifications, and competitor analysis.
Keywords
Valuation Report, NAV, Oil and gas valuation, Strategic Evaluation, Strategic and Operational Analysis, Forecasted financial Statements, SWOT, Capital expenditure, Market Scenario, Revenue, Financial Ratios, Production, Reserves, Peer Group Comparison, DCF, Outlook, Investment Thesis, Investment Summary, ExxonMobil Corporation
1
1
1.1 List of Tables
1.2 List of Figures
2 ExxonMobil Corporation, Company Overview
3 ExxonMobil Corporation, Key Highlights
3.1 Anticipating a Growth of around 1-2% from its Upstream Projects; Still Missing the Game Changer Upcoming Projects
3.1.1 Kearl Project
3.1.2 LNG Trains in Qatar
3.2 Reliance on Unconventional Sources
3.3 Merger with XTO Leading to Exxon’s Expansion of Unconventional Resource Base and Technological Advancement
3.3.1 Strengthen Exxon’s Resource Base
3.3.2 Synergized Technical Expertise
3.4 Strong Profitability Position in 2011 Providing Edge Over its Peers
4 ExxonMobil Corporation, SWOT Analysis
4.1 Strengths
4.1.1 Largest Reserve Base among Super Six Oil and Gas Companies
4.1.2 Strong Liquidity Position
4.1.3 Wide Geographic Presence and Diversified Resource Base
4.1.4 History of Sufficient Cash Flows
4.2 Weaknesses
4.2.1 Ignorance on Environmental Aspects; Increase in the Penalties Payments
4.3 Opportunities
4.3.1 Kearl Could Boost Future Oil Production
4.3.2 Upside through Unconventional Gas Plays and Other Upcoming Projects
4.4 Threats
4.4.1 Carbon–Tax Possibly Slow Down LNG Production
4.4.2 Continuous Low Natural Gas Prices Adversely Impacting Exxon’s Natural Gas Shale Projects Timelines
5 ExxonMobil Corporation, Goals and Strategies
5.1 Developing Unconventional Resources
5.2 Increasing Shareholder Value
6 ExxonMobil Corporation, Production Overview
6.1 Production Profile
6.2 The US
6.2.1 Gulf of Mexico
6.2.2 Mid–Continent
6.2.3 California
6.2.4 Alaska
6.3 Canada
6.3.1 Onshore Canada Operations
6.3.2 Offshore Canada Operations
6.4 South America
6.5 Europe
6.5.1 Germany
6.5.2 The Netherlands
6.5.3 Norway
6.5.4 The UK
6.5.5 Italy
6.6 Africa
6.6.1 Angola
6.6.2 Chad
6.6.3 Equatorial Guinea
6.6.4 Nigeria
6.7 Asia
6.7.1 Indonesia
6.7.2 Iraq
6.7.3 Kazakhstan
6.7.4 Qatar
6.7.5 United Arab Emirates
6.7.6 Russia
6.7.7 Azerbaijan
6.7.8 Malaysia
6.8 Australia/Oceania
6.8.1 Australia
6.8.2 PNG
7 ExxonMobil Corporation, Exploration and Development Overview
7.1 The US
7.1.1 Gulf of Mexico
7.1.2 US Onshore Texas and Louisiana
7.1.3 Mid-Continent and Appalachia
7.1.4 California
7.2 Canada
7.3 South America
7.3.1 Argentina
7.3.2 Others
7.4 Europe
7.4.1 Norway
7.4.2 United Kingdom
7.4.3 Germany
7.4.4 Netherlands
7.4.5 Others
7.5 Australia/Oceania
7.5.1 Australia
7.5.2 Papua New Guinea
7.6 Asia
7.6.1 Qatar
7.6.2 UAE
7.6.3 Iraq
7.6.4 Russia
7.6.5 Azerbaijan
7.6.6 Kazakhstan
7.6.7 Indonesia
7.6.8 Malaysia
7.6.9 Others
7.7 Africa
7.7.1 Angola
7.7.2 Nigeria
7.7.3 Equatorial Guinea
7.7.4 Others
8 Capital Expenditure
8.1 Costs Incurred
9 Acreage
10 ExxonMobil Corporation, M&A Highlights
10.1 M&A Activity
11 ExxonMobil Corporation, Downstream Updates
12 ExxonMobil Corporation, Chemical Updates
13 ExxonMobil Corporation, Forecast Production and Financial Statements
13.1 Income Statement (2009–2016)
13.2 Balance Sheet (2009–2016)
13.3 Cash Flow Statement (2009–2016)
13.4 Financial Ratios
14 ExxonMobil Corporation, Valuation
14.1 Net Asset Value
15 ExxonMobil Corporation, Peer Comparison
15.1 Share Price Performance
15.2 Operational and Financial Performance
15.3 Key Financial and Operational Ratio
16 ExxonMobil Corporation, Detailed Operational and Financial Metrics
16.1 ExxonMobil Corporation, Total Oil and Gas, Reserves and Production
16.1.1 Total Crude Oil and Natural Gas Production and Reserves Trend, 2007-2011
16.1.2 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2007-2011
16.1.3 Total Crude Oil and Natural Gas Reserve Changes, 2007-2011
16.2 ExxonMobil Corporation, Crude Oil/Liquids Production and Reserve
16.2.1 Crude Oil/Liquids Production and Reserve Trend, 2007-2011
16.2.2 Crude Oil Production and Reserves By Country/Region, 2007-2011
16.2.3 Crude Oil/Liquids Reserve Changes, 2007-2011
16.3 ExxonMobil Corporation, Natural Gas Production and Reserve
16.3.1 Natural Gas Production and Reserve Trend, 2007-2011
16.3.2 Natural Gas Production and Reserves, By Country/Region, 2007-2011
16.3.3 Natural Gas Reserve Changes, 2007-2011
16.4 ExxonMobil Corporation, Total Crude Oil and Natural Gas Reserves Life Index
16.4.1 Total Crude Oil and Natural Gas Reserves Life Index, 2007-2011
16.4.2 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2007-2011
16.5 ExxonMobil Corporation, E&P Costs Trends
16.5.1 Upstream Capital Expenditure, 2007-2011
16.5.2 Acquisition Costs By Country/Region, 2007-2011
16.5.3 Exploration and Development Costs, By Country/Region, 2007-2011
16.6 ExxonMobil Corporation, Oil and Gas Cost Per boe, $/boe
16.6.1 Oil and Gas Cost Per boe, $/boe, 2007-2011
16.6.2 Oil and Gas Cost Per boe, $/boe, By Country/Region, 2007-2011
16.7 ExxonMobil Corporation, Reserve Replacement Ratio
16.7.1 Oil and Gas Production Replacement Ratio, 2007-2011
16.7.2 Oil and Gas Production Replacement Ratio, By Country/Region, 2007-2011
16.8 ExxonMobil Corporation, Results of Oil & Gas Operations Trend
16.8.1 Oil and Gas Revenue and Expenses, 2007-2011
16.8.2 Oil and Gas Revenue and Expenses, By Country/Region, 2007-2011
16.9 ExxonMobil Corporation, Oil and Gas Revenue and Expenses, Per boe
16.9.1 Oil and Gas Revenue and Expenses, By boe, 2007-2011
16.9.2 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2007-2011
16.10 ExxonMobil Corporation, Oil and Gas Performance Metrics
16.11 ExxonMobil Corporation, Land Holdings and Well Data
16.11.1 Gross and Net Developed and Undeveloped Acreage, 2007-2011
16.11.2 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2007-2011
16.12 Well Statistics
16.12.1 Producible Oil and Gas Well, 2007-2011
16.12.2 Producible Oil and Gas Well, By Country/Region, 2007-2011
16.12.3 Exploration and Development Wells Drilled, 2007-2011
16.12.4 Exploration and Development Wells Drilled, By Country/Region, 2007-2011
17 Appendix
17.1 Abbreviations
17.2 Methodology
17.2.1 Coverage
17.2.2 Secondary Research
17.2.3 Primary Research
17.3 Contact Us
17.4 Disclaimer
1.1 List of Tables
Table 1: ExxonMobil Corporation, Key Events, 2011–2012
Table 2: ExxonMobil Corporation, Production from Upcoming Assets, MMboe, 2012–2016
Table 3: ExxonMobil Corporation, Total Proved Reserves (MMboe), 2011
Table 4: ExxonMobil Corporation, Crude Oil and Natural Gas Production (MMboe), 2008–2011
Table 5: ExxonMobil Corporation, Upstream Growth Profile (MMboe), 2012–2016
Table 6: ExxonMobil Corporation, US (including Canada and South America) Highlights, 2009–
Table 7: ExxonMobil Corporation, Europe Highlights, 2009–2011
Table 8: ExxonMobil Corporation, Australia Highlights, 2009–2011
Table 9: ExxonMobil Corporation, Asia Highlights, 2009–2011
Table 10: ExxonMobil Corporation, Africa Highlights, 2009–2011
Table 11: ExxonMobil Corporation, Major Upcoming Projects by Commodity Mix, 2012–2016
Table 12: ExxonMobil Corporation, Capital Expenditure Classification, $m, 2010–2011
Table 13: ExxonMobil Corporation, Costs Incurred ($m), 2008–2011
Table 14: ExxonMobil Corporation, Reserve Replacement Ratio and Finding and Development
Table 15: ExxonMobil Corporation, Recent Transactions as a Buyer, 2010–2012
Table 16: ExxonMobil Corporation, Recent Transactions as a Seller, 2010–2011
Table 17: ExxonMobil Corporation, Downstream Segment, Revenue, Earning and Segment
Table 18: ExxonMobil Corporation, Chemical Segment, Revenue, Earning and Segment
Table 19: ExxonMobil Corporation, Forecast Production, 2008–2016
Table 20: GlobalData, Price Forecasts, 2012–2016
Table 21: ExxonMobil Corporation, Income Statement ($m), 2009–2016
Table 22: ExxonMobil Corporation, Balance Sheet ($m), 2009–2016
Table 23: ExxonMobil Corporation, Cash Flow Statement ($m), 2009–2016
Table 24: ExxonMobil Corporation, Profitability Ratios, 2009–2016
Table 25: ExxonMobil Corporation, Other Financial Ratios, 2008–2015
Table 26: GlobalData, Price Forecast, 2012–2016
Table 27: ExxonMobil Corporation, Net Asset Value, 2012
Table 28: ExxonMobil Corporation, Prospective Acreage and Non–Proven Reserves, 2011
Table 29: ExxonMobil Corporation, NPV of Natural Gas Reserves, 2012
Table 30: ExxonMobil Corporation, NPV of Oil/NGL Reserves, 2012
Table 31: ExxonMobil Corporation, NPV of Total Oil and Natural Gas Reserves, 2012
Table 32: ExxonMobil Corporation, Sensitivity Analysis on Fair Value ($/share), 2012
Table 33: ExxonMobil Corporation Versus Peer Group, Operational and Financial Performance,
Table 34: ExxonMobil Corporation, Total Reserves and Production (MMboe), 2011
Table 35: ExxonMobil Corporation and its Peer Group Comparison, Financial Ratios, 2011
Table 36: ExxonMobil Corporation, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2007-2011
Table 37: ExxonMobil Corporation, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, MMboe, 2007-2011
Table 38: ExxonMobil Corporation, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2007-2011
Table 39: ExxonMobil Corporation, Crude Oil Production and Reserves Metrics, MMbbl, 2007-2011
Table 40: ExxonMobil Corporation, Crude Oil Production and Reserves, By Country/Region, MMbbl, 2007-2011
Table 41: ExxonMobil Corporation, Crude Oil Reserve Changes, MMbbl, 2007-2011
Table 42: ExxonMobil Corporation, Natural Gas Production and Reserves Metrics, Bcf, 2007-2011
Table 43: ExxonMobil Corporation, Natural Gas Production and Reserves, By Country/Region, Bcf, 2007-2011
Table 44: ExxonMobil Corporation, Natural Gas Reserve Changes, Bcf, 2007-2011
Table 45: ExxonMobil Corporation, Oil and Gas Reserves Life Index, Years, 2007-2011
Table 46: ExxonMobil Corporation, Oil and Gas Reserves Life Index, By Country/Region, Years, 2007-2011
Table 47: ExxonMobil Corporation, Upstream Capital Expenditure, $m, 2007-2011
Table 48: ExxonMobil Corporation, Proved and Unproved Acquisition Costs, By Country/Region, $m, 2007-2011
Table 49: ExxonMobil Corporation, Exploration and Development Costs, By Country/Region, $m, 2007-2011
Table 50: ExxonMobil Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 2007-2011
Table 51: ExxonMobil Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, By Country/Region, 2007-2011
Table 52: ExxonMobil Corporation, Oil and Gas Production Replacement Ratio, %, 2007-2011
Table 53: ExxonMobil Corporation, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2007-2011
Table 54: ExxonMobil Corporation, Revenue and Expenses, $m, 2007-2011
Table 55: ExxonMobil Corporation, Revenue and Expenses, By Country/Region, $m, 2007-2011
Table 56: ExxonMobil Corporation, Oil and Gas Revenue and Expenses, $/boe, 2007-2011
Table 57: ExxonMobil Corporation, Oil and Gas Revenue and Expenses, $/boe, By Country/Region, 2007-2011
Table 58: ExxonMobil Corporation, Oil and Gas Performance Metrics, 2007-2011
Table 59: ExxonMobil Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2007-2011
Table 60: ExxonMobil Corporation, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2007-2011
Table 61: ExxonMobil Corporation, Producible Oil and Gas Wells, 2007-2011
Table 62: ExxonMobil Corporation, Producible Oil and Gas Wells, By Country/Region, 2007-2011
Table 63: ExxonMobil Corporation, Exploratory and Developed Wells, 2007-2011
Table 64: ExxonMobil Corporation, Exploratory and Developed Wells, By Country/Region, 2007-2011
1.2 List of Figures
Figure 1: ExxonMobil Corporation, Average Reserves and Average Production, MMboe, 2006–2011
Figure 2: ExxonMobil Corporation, Operational Overview, 2012
Figure 3: ExxonMobil Corporation, Revenue by Segment after inter-segment eliminations (%), 2011
Figure 4: ExxonMobil Corporation, Earnings by Segment after inter-segment eliminations (%), 2011
Figure 5: ExxonMobil Corporation, Performance Charts, 2008–2011
Figure 6: ExxonMobil Corporation, Share Price Performance, July 2011– July 2012
Figure 7: ExxonMobil Corporation, Production from Upcoming Assets, MMboe, 2012–2016
Figure 8: ExxonMobil Corporation, the Unconventional Resources Portfolio, 2012
Figure 9: ExxonMobil Corporation, Peer Comparison For Profitability Ratios, 2009–2011
Figure 10: ExxonMobil Corporation, Profitability Ratios Comparison With Its Peer Group, 2011
Figure 11: ExxonMobil Corporation and its Peers, Proved Reserves (MMboe), 2007–2011
Figure 12: ExxonMobil Corporation, Sources and Usage of Funds, ($m), 2008–2011
Figure 13: ExxonMobil Corporation, the Capital Expenditure and the Cash Flow from Operations, $m, 2007–2011
Figure 14: ExxonMobil Corporation, the Unconventional Resources Portfolio, North America, 2012
Figure 15: ExxonMobil Corporation, the Dividend Payout Ratio, 2007–2011
Figure 16: ExxonMobil Corporation, Total Proved Reserves (MMboe), 2011
Figure 17: ExxonMobil Corporation, Total Production (MMboe), 2008–2016
Figure 18: ExxonMobil Corporation, Production Mix (%), 2008–2011
Figure 19: ExxonMobil Corporation, Gulf of Mexico Operations, 2012
Figure 20: ExxonMobil Corporation, Asia Operations, 2012
Figure 21: ExxonMobil Corporation, Net Productive and Dry Exploratory and Development Wells, 2008–2011
Figure 22: ExxonMobil Corporation, Net/ Gross Oil and Gas Ratio for Wells, 2008–2011
Figure 23: ExxonMobil Corporation, Net Productive Oil & Gas Exploratory Wells Drilled, 2008–2011
Figure 24: ExxonMobil Corporation, the US Region, Operational Map, 2012
Figure 25: ExxonMobil Corporation, the South American Region, Operational Map, 2012
Figure 26: ExxonMobil Corporation, the Australian Region, Operational Map, 2012
Figure 27: ExxonMobil Corporation, the African Region, Operational Map, 2012
Figure 28: ExxonMobil Corporation, Angola, Operational Map, 2012
Figure 29: ExxonMobil Corporation, Nigeria, Operational Map, 2012
Figure 30: ExxonMobil Corporation, Capital Expenditure Classification, $m, 2010–2011
Figure 31: ExxonMobil Corporation, Costs Incurred ($m), 2008–2011
Figure 32: ExxonMobil Corporation, Reserve Replacement Ratio and Finding and Development Cost, 2008–2011
Figure 33: ExxonMobil Corporation Versus Peers Acreage Comparison (Million Acres), 2011
Figure 34: ExxonMobil Corporation, Net Developed and Undeveloped Acreages, 2008–2011
Figure 35: ExxonMobil Corporation, Downstream Segment, Revenue, Earning and Segment Revenue as Percentage of Total Revenue, 2008–2011
Figure 36: ExxonMobil Corporation, Chemical Segment, Revenue, Earning and Segment Revenue as Percentage of Total Revenue, 2008–2011
Figure 37: ExxonMobil Corporation and its Peers, Relative Share Price Performance Index, June 2011– June 2012
Figure 38: ExxonMobil Corporation and its Peers, Per Boe Parameters, 2011
Figure 39: ExxonMobil Corporation and its Peers, Reserve Life Index, 2011
Figure 40: ExxonMobil Corporation, Total Reserves and Production, MMboe, 2011
Figure 41: ExxonMobil Corporation and its Peers, Valuation Ratios, 2011
Figure 42: ExxonMobil Corporation, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2007-2011
Figure 43: ExxonMobil Corporation, Total Oil & Gas Reserves, End of Period, By Country/Region, MMboe, 2007-2011
Figure 44: ExxonMobil Corporation, Total Oil & Gas Production, By Country/Region, MMboe, 2007-2011
Figure 45: ExxonMobil Corporation, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2011
Figure 46: ExxonMobil Corporation, Crude Oil Production and Reserves Metrics, MMbbl, 2007-2011
Figure 47: ExxonMobil Corporation, Oil Reserves, End of Period, By Country/Region, MMbbl, 2007-2011
Figure 48: ExxonMobil Corporation, Oil Production, By Country/Region, MMbbl, 2007-2011
Figure 49: ExxonMobil Corporation, Crude Oil Reserve Changes, MMbbl, 2011
Figure 50: ExxonMobil Corporation, Natural Gas Production and Reserves Metrics, Bcf, 2007-2011
Figure 51: ExxonMobil Corporation, Gas Reserves, End of Period, By Country/Region, Bcf, 2007-2011
Figure 52: ExxonMobil Corporation, Gas Production, By Country/Region, Bcf, 2007-2011
Figure 53: ExxonMobil Corporation, Natural Gas Reserve Changes, Bcf, 2011
Figure 54: ExxonMobil Corporation, Oil and Gas Reserves Life Index, Years, 2007-2011
Figure 55: ExxonMobil Corporation, Gas Reserve Life Index, By Country/Region, Years, 2007-2011
Figure 56: ExxonMobil Corporation, Oil & Gas Reserve Life Index, By Country/Region, Years, 2007-2011
Figure 57: ExxonMobil Corporation, Oil Reserve Life Index, By Country/Region, Years, 2007-2011
Figure 58: ExxonMobil Corporation, Upstream Capital Expenditure, $m, 2007-2011
Figure 59: ExxonMobil Corporation, Proved Acquisition Costs, By Country/Region, $m, 2007-2011
Figure 60: ExxonMobil Corporation, Unproved Acquisition Costs, By Country/Region, $m, 2007-2011
Figure 61: ExxonMobil Corporation, Development Costs, By Country/Region, $m, 2007-2011
Figure 62: ExxonMobil Corporation, Exploration Costs, By Country/Region, $m, 2007-2011
Figure 63: ExxonMobil Corporation, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 2007-2011
Figure 64: ExxonMobil Corporation, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, $/boe, 2007-2011
Figure 65: ExxonMobil Corporation, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, $/boe, 2007-2011
Figure 66: ExxonMobil Corporation, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, $/boe, 2007-2011
Figure 67: ExxonMobil Corporation, Proved Reserves Acquisition Cost per boe, 3-Year Average, By Country/Region, $/boe, 2007-2011
Figure 68: ExxonMobil Corporation, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2007-2011
Figure 69: ExxonMobil Corporation, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2007-2011
Figure 70: ExxonMobil Corporation, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2007-2011
Figure 71: ExxonMobil Corporation, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2007-2011
Figure 72: ExxonMobil Corporation, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2007-2011
Figure 73: ExxonMobil Corporation, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2007-2011
Figure 74: ExxonMobil Corporation, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2007-2011
Figure 75: ExxonMobil Corporation, Revenue and Expenses, $m, 2007-2011
Figure 76: ExxonMobil Corporation, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, $m, 2007-2011
Figure 77: ExxonMobil Corporation, Exploration Expenses, By Country/Region, $m, 2007-2011
Figure 78: ExxonMobil Corporation, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, $m, 2007-2011
Figure 79: ExxonMobil Corporation, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, $m, 2007-2011
Figure 80: ExxonMobil Corporation, Oil & Gas Revenue, By Country/Region, $m, 2007-2011
Figure 81: ExxonMobil Corporation, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, $m, 2007-2011
Figure 82: ExxonMobil Corporation, Production Costs, By Country/Region, $m, 2007-2011
Figure 83: ExxonMobil Corporation, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, $m, 2007-2011
Figure 84: ExxonMobil Corporation, Oil and Gas Revenue and Expenses, $/boe, 2007-2011
Figure 85: ExxonMobil Corporation, Exploration Expenses per boe, By Country/Region, $/boe, 2007-2011
Figure 86: ExxonMobil Corporation, Income Tax/(Benefit) per boe, By Country/Region, $/boe, 2007-2011
Figure 87: ExxonMobil Corporation, Lifting Cost per boe, By Country/Region, $/boe, 2007-2011
Figure 88: ExxonMobil Corporation, Annual Net Income per boe, By Country/Region, $/boe, 2007-2011
Figure 89: ExxonMobil Corporation, Oil & Gas Revenue per boe, By Country/Region, $/boe, 2007-2011
Figure 90: ExxonMobil Corporation, Total DD&A per boe, By Country/Region, $/boe, 2007-2011
Figure 91: ExxonMobil Corporation, Total Revenue per boe, By Country/Region, $/boe, 2007-2011
Figure 92: ExxonMobil Corporation, Oil and Gas Performance Metrics, 2007-2011
Figure 93: ExxonMobil Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2007-2011
Figure 94: ExxonMobil Corporation, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2007-2011
Figure 95: ExxonMobil Corporation, Total Net Undeveloped Acreage, By Country/Region, Acres, 2007-2011
Figure 96: ExxonMobil Corporation, Total Gross Developed Acreage, By Country/Region, Acres, 2007-2011
Figure 97: ExxonMobil Corporation, Total Net Developed Acreage, By Country/Region, Acres, 2007-2011
Figure 98: ExxonMobil Corporation, Producible Oil and Gas Wells, 2007-2011
Figure 99: ExxonMobil Corporation, Gross Productive Gas Wells, By Country/Region, Number, 2007-2011
Figure 100: ExxonMobil Corporation, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2007-2011
Figure 101: ExxonMobil Corporation, Gross Productive Oil Wells, By Country/Region, Number, 2007-2011
Figure 102: ExxonMobil Corporation, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2007-2011
Figure 103: ExxonMobil Corporation, Net Productive Gas Wells, By Country/Region, Number, 2007-2011
Figure 104: ExxonMobil Corporation, Net Productive Oil & Gas Wells, By Country/Region, Number, 2007-2011
Figure 105: ExxonMobil Corporation, Net Productive Oil Wells, By Country/Region, Number, 2007-2011
Figure 106: ExxonMobil Corporation, Exploratory and Developed Wells, 2007-2011
Anticipating a Growth of around 1-2% from its Upstream Projects; Still Missing the Game Changer Upcoming Projects
Exxon, like other big oil majors, has been continuously attempting to increase its overall production volumes. Production levels were declining until 2009, before increasing in 2010 and 2011. The company, however, operates with a long–term vision and has projects lined up to fuel its future growth.
Exxon has a strong geographically diversified portfolio of upcoming projects. Currently, the company’s upstream portfolio comprises of an inventory of over 120 major projects, located in different countries, the four most important of which started production during 2010 and 2011. These projects are RasGas Train 7, Golden Pass LNG Terminal, Sakhalin–1 Odoptu and Pazflor. The combined daily production from these projects is expected to be 345,000bbl/d and 1,250mcf/d of natural gas on reaching the peak production. Apart from these projects, the company has planned nine major start-ups during 2012–2013: Kizomba Satellites Phase 1, Turrum, Kearl Initial Development, Syncrude Aurora North Mine Sustaining, Kashagan Phase 1, Telok, Usan, Etim/Asasa Pressure Maintenance and Satellite Field Development Phase 1. Additionally, the company plans to commence 12 more projects in 2014. Those anticipated to start in 2014 include Cravo-Lirio-Orquidea-Violeta (CLOV), Kipper/Tuna, Cold Lake Nabiye Expansion, Hibernia Southern Extension, Syncrude Mildred Lake Mine Sustaining Project, Banyu Urip, Damar Gas, PNG LNG, Sakhalin-1 Arkutun-Dagi, Barzan, Hadrian South and Lucius. These projects will make significant contributions in the total production of the company in the future. Therefore, these projects will support the long term growth of the company.
Kearl Project
Exxon has been developing Kearl oil sands project, which is located 70 miles north of Fort McMurray, Alberta, in Canada. Exxon, through this project, will extract crude bitumen from the oil sands. Kearl is a joint venture between ExxonMobil Canada Properties and Imperial Oil Limited; Imperial Oil Limited holds 71% and ExxonMobil Canada Properties holds 26 %.( ExxonMobil has a 69.6% interest in Imperial Oil Limited and a 100% interest in ExxonMobil Canada Properties). The company’s acreages are expected to have a resource potential of over 4 billion bbl of bitumen. The company plans to develop this project in several phases, spread over a period of 40 years. Mining and facility construction for Phase 1 started in 2009 and is scheduled for completion in late 2012. As of December 2011, 87% of the Kearl Initial Development project was complete. The company, through the use of its superior technology, is constantly able to raise its production guidance for the project. The company initially forecasted to achieve 110,000 gross barrels of bitumen per day at plateau production; however, the expansion project, following the initial development, will increase the capacity to 345,000 gross barrels of bitumen per day. With the improved environment for oil prices, coupled with the company’s technical competence to make it a low cost project, Kearl is a good investment.
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