Exxon Replaces Reserves | Russell T. Rudy Energy LLC
“Rigzone” reports that ExxonMobil Corp. slightly increased its proved oil and gas reserves in 2014. This is primarily attributable to successes in shale plays in the Permian Basin and the Kearl oil sands project in Canada.
By adding reserves of 1.5 billion barrels of oil equivalent (boe), the company was able to replace 104% of 2014 production. Chairman Rex Tillerson credited this success to the company’s resource base, project execution and technical capabilities.
At year end Exxon’s reserves totaled 25.3 billion boe, 54% of which were liquids.
To read the article in its entirety, please go to www.rigzone.com/news/article.asp?hpf=1&a_id=137340&utm .
