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Exxon Mobil (XOM +0.2%) says new shale projects in the U.S. and heavy-oil developments in Canada...

Exxon Mobil (XOM +0.2%) says new shale projects in the U.S. and heavy-oil developments in Canada helped add 1.8B barrels to its reserves last year, enough to replace 115% of total output and 174% of its crude and liquids production. XOM returned to having more than half its reserves in liquids instead of gas; at year-end 2012, reserves were 51% liquids and 49% gas, a reversal of 2011.
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  • T-Rex81
    , contributor
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    WOW given that this increase is coming in large part from unconventional shale resources operated by the XTO division maybe the short sighted fools who slammed the acquisition will see the brilliance of the XTO deal now. XTO gives XOM a fast moving highly adaptive group that can quickly bring unconventional resources like shale oil online. Without them it would have been 2015-2016 before we saw these numbers
    19 Feb 2013, 10:34 PM Reply Like
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