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ExxonMobil more than replaces its reserves

Feb. 15, 2006 at 5:53 PM   |   Comments

IRVING, Texas, Feb. 15 (UPI) -- Texas-based Exxon Mobil Corp. says additions to its worldwide proven oil and gas reserves totaled 1.7 billion oil-equivalent barrels in 2005.

Production totaled 1.5 billion oil-equivalent barrels in 2005, with 917 million barrels of liquids and 3.7 trillion cubic feet of gas produced, the company said Wednesday. The corporation replaced 112 percent of production including property sales and 129 percent excluding property sales.

"This represents the 12th consecutive year of greater than 100 percent reserves replacement," said Rex Tillerson, Exxon Mobil's chief executive said.

© 2006 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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