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Exxon Mobil Reports 2017 Proved Oil And Gas Reserves - Quick Facts

Exxon Mobil Corp. (XOM) said it added 2.7 billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183 percent of production. ExxonMobil's proved reserves totaled 21.2 billion oil-equivalent barrels at year-end 2017. Liquids represented 57 percent of the reserves, up from 53 percent in 2016. ExxonMobil's reserves life at current production rates is 14 years.

During 2017, proved additions at Upper Zakum in Abu Dhabi totaled more than 800 million barrels of crude oil. Additions from liquids-rich unconventional plays in the United States, mainly in the Permian Basin, totaled approximately 800 million oil-equivalent barrels.

ExxonMobil added 9.8 billion oil-equivalent barrels to its resource base in 2017 through by-the-bit exploration discoveries and strategic acquisitions. This was the largest addition to the resource base since the acquisition of XTO Energy in 2010. ExxonMobil's resource base totaled approximately 97 billion oil-equivalent barrels at year-end 2017, taking into account field revisions, production and asset sales.

by RTTNews Staff Writer

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