About Exxon Mobil

Exxon Mobil Corporation engages in the exploration for, and production of, crude oil and natural gas; and manufacture, trade, transport and sale of crude oil, natural gas, petroleum products, petrochemicals and a wide variety of specialty products.

The company pursuits lower-emission business opportunities, including carbon capture and storage, hydrogen and biofuels. The company has several divisions and hundreds of affiliates, many with names that include ExxonMobil, Exxon, Esso, Mobil or XTO (XTO Energy Inc.). The company held over 8 thousand active patents worldwide as of December 31, 2021. Divisions and affiliated companies of ExxonMobil operate or market products in the United States and most other countries of the world.

As of December 31, 2021, approximately 6.3 billion oil-equivalent barrels (GOEB) of ExxonMobil’s proved reserves were classified as proved undeveloped. This represents 34 percent of the 18.5 GOEB reported in proved reserves. The largest transfers were related to development activities in the United States. During 2021, extensions and discoveries, primarily in the United States, Brazil, and Guyana, resulted in an addition of approximately 1.3 GOEB of proved undeveloped reserves, along with an increase of approximately 0.6 GOEB due to revisions primarily in Asia and Canada.

Syncrude Operations

Syncrude is a joint venture established to recover shallow deposits of oil sands using open-pit mining methods to extract the crude bitumen, and then upgrade it to produce a high-quality, light (32 degrees API), sweet, synthetic crude oil. Imperial Oil Limited is the owner of a 25 percent interest in the joint venture. The company has a 69.6 percent interest in Imperial Oil Limited. In 2021, the company’s share of net production of synthetic crude oil was about 62 thousand barrels per day and share of net acreage was about 55 thousand acres in the Athabasca oil sands deposit.

Kearl Operations

Kearl is a joint venture established to recover shallow deposits of oil sands using open-pit mining methods to extract the crude bitumen. Imperial Oil Limited holds a 70.96 percent interest in the joint venture and ExxonMobil Canada Properties holds the other 29.04 percent. The company has a 69.6 percent interest in Imperial Oil Limited and a 100 percent interest in ExxonMobil Canada Properties. Kearl consists of six oil sands leases covering about 49 thousand acres in the Athabasca oil sands deposit.

Kearl is located approximately 40 miles north of Fort McMurray, Alberta, Canada. Bitumen is extracted from oil sands and processed through bitumen extraction and froth treatment trains. The product, a blend of bitumen and diluent, is shipped to the company’s refineries and to other third parties. Diluent is natural gas condensate or other light hydrocarbons added to the crude bitumen to facilitate transportation by pipeline and rail. During 2021, average net production at Kearl was about 251 thousand barrels per day. During 2021, approximately 2.4 billion barrels of bitumen at Kearl were added to proved reserves.

Principal Ongoing Activities

The United States

As of December 31, 2021, ExxonMobil’s acreage holdings totaled 10.5 million net acres, of which 0.3 million net acres were offshore. ExxonMobil was active in areas onshore and offshore in the lower 48 states and in Alaska. Development activities continued on the Golden Pass liquefied natural gas export project.

During the year ended December 31, 2021, a total of 449.4 net exploration and development wells were completed in the inland lower 48 states. Development activities focused on liquids-rich opportunities in the onshore U.S., primarily in the Permian Basin of West Texas and New Mexico.

ExxonMobil’s net acreage in the Gulf of Mexico as of December 31, 2021, was 0.3 million acres. A total of 0.8 net exploration and development wells were completed during the year ended December 31, 2021.

Participation in Alaska production and development continued with a total of 1.1 net development wells completed.

Canada/Other Americas

Canada

Oil and Gas Operations: As of December 31, 2021, ExxonMobil’s acreage holdings totaled 6.7 million net acres, of which 3.9 million net acres were offshore. A total of 3.7 net development wells were completed during the year ended December 31, 2021.

In Situ Bitumen Operations: As of December 31, 2021, ExxonMobil’s in situ bitumen acreage holdings totaled 0.6 million net onshore acres. A total of 12 net development wells at Cold Lake were completed during the year ended December 31, 2021.

Argentina

ExxonMobil’s net acreage totaled 2.9 million acres, of which 2.6 million net acres were offshore as of December 31, 2021. During the year ended December 31, 2021, a total of 8.1 net development wells were completed.

Brazil

ExxonMobil’s net acreage totaled 2.6 million offshore acres as of December 31, 2021. During the year ended December 31, 2021, a total of 1.4 net exploration wells were completed. The Bacalhau Phase 1 project was funded in 2021.

Guyana

ExxonMobil’s net acreage totaled 4.6 million offshore acres as of December 31, 2021. During the year ended December 31, 2021, a total of 11 net exploration and development wells were completed. Development activities continued on the Liza Phase 2 and Payara projects.

Europe

Germany

ExxonMobil’s net acreage totaled 1.6 million onshore acres as of December 31, 2021. During the year ended December 31, 2021, a total of 0.3 net development well was completed.

The Netherlands

ExxonMobil’s net interest in licenses totaled 1.4 million acres, of which 1.0 million acres were onshore as of December 31, 2021. During the year ended December 31, 2021, a total of 0.5 net development well was completed. In 2021, the Dutch Government further reduced Groningen gas extraction. The expectation is that Groningen will cease regular production in 2022.

The United Kingdom

ExxonMobil’s net interest in licenses totaled 0.1 million offshore acres as of December 31, 2021. During the year ended December 31, 2021, a total of 0.4 net development well was completed.

Africa

Angola

ExxonMobil’s net acreage totaled 3.0 million acres, of which 2.9 million net acres were offshore as of December 31, 2021. During the year ended December 31, 2021, a total of 1.1 net development wells were completed.

Chad

ExxonMobil’s net acreage totaled 46 thousand onshore acres as of December 31, 2021. In 2021, ExxonMobil entered into an agreement to divest its assets in Chad. The transaction is expected to close in 2022.

Equatorial Guinea

ExxonMobil’s net acreage totaled 0.1 million offshore acres as of December 31, 2021. In 2021, ExxonMobil relinquished 0.4 million net offshore acres.

Mozambique

ExxonMobil’s net acreage totaled 1.8 million offshore acres as of December 31, 2021. During the year ended December 31, 2021, a total of 1.5 net development wells were completed. Development activities continued on the Coral South Floating LNG project.

Nigeria

ExxonMobil’s net acreage totaled 0.9 million offshore acres as of December 31, 2021.

Asia

Azerbaijan

ExxonMobil's net acreage totaled 7 thousand offshore acres as of December 31, 2021. During the year ended December 31, 2021, a total of 0.7 net development wells were completed.

Indonesia

ExxonMobil’s net acreage totaled 0.1 million onshore acres as of December 31, 2021.

Iraq

ExxonMobil’s net acreage totaled 36 thousand onshore acres as of December 31, 2021. Oil field rehabilitation activities continued during 2021 and across the life of this project will include drilling of new wells; working over of existing wells; and optimization, debottlenecking and expansion of facilities.

Kazakhstan

ExxonMobil’s net acreage totaled 0.3 million acres, of which 0.2 million net acres were offshore as of December 31, 2021. During the year ended December 31, 2021, a total of 2 net development wells were completed. Development activities continued on the Tengiz Expansion project.

Malaysia

ExxonMobil’s interests in production sharing contracts covered 0.2 million net acres offshore as of December 31, 2021.

Qatar

Through the company’s joint ventures with Qatar Energy, ExxonMobil’s net acreage totaled 65 thousand acres offshore as of December 31, 2021. ExxonMobil participated in 62.2 million tonnes per year gross liquefied natural gas capacity and 3.4 billion cubic feet per day of flowing gas capacity as of December 31, 2021. During the year ended December 31, 2021, a total of 4.8 net development wells were completed. The North Field Production Sustainment Integrated Drilling and Looping project was funded in 2021. Effective January 1, 2022, ExxonMobil no longer participates in the Qatar Liquefied Gas Company Limited (QG1) venture, representing 3.6 thousand net acres and 9.9 million tonnes per year gross liquefied natural gas capacity.

Russia

ExxonMobil’s net acreage holdings in Sakhalin totaled 85 thousand offshore acres as of December 31, 2021. During the year ended December 31, 2021, a total of 0.9 net development wells were completed.

Thailand

ExxonMobil’s net onshore acreage in Thailand concessions totaled 16 thousand acres as of December 31, 2021. During the year ended December 31, 2021, a total of 0.2 development wells were completed.

The United Arab Emirates

ExxonMobil’s net acreage in the Abu Dhabi offshore Upper Zakum oil concession was 81 thousand acres as of December 31, 2021. During the year ended December 31, 2021, a total of 0.6 net development wells were completed. Development activities continued on the Upper Zakum 1 MBD Sustainment project.

Australia/Oceania

Australia

ExxonMobil’s net acreage totaled 1.8 million acres offshore and 10 thousand acres onshore as of December 31, 2021.

The co-venturer-operated Gorgon Jansz liquefied natural gas (LNG) development consists of a subsea infrastructure for offshore production and transportation of the gas, a 15.6 million tonnes per year LNG facility, and a 280 million cubic feet per day domestic gas plant located on Barrow Island, Western Australia. The Jansz-Io Compression project was funded in 2021. Development activities continued on the Gorgon Stage 2 project during the year.

Papua New Guinea

ExxonMobil’s net acreage totaled 3.4 million acres, of which 1.2 million net acres were offshore as of December 31, 2021. In 2021, ExxonMobil relinquished 2.1 million net offshore acres. The Papua New Guinea (PNG) liquefied natural gas integrated development includes gas production and processing facilities in the southern PNG Highlands, onshore and offshore pipelines, and a 6.9 million tonnes per year liquefied natural gas facility near Port Moresby.

Worldwide Exploration

As of December 31, 2021, exploration activities were under way in several areas in which ExxonMobil has no established production operations and thus are not included above. A total of 18.3 million net acres were held as of December 31, 2021.

Delivery Commitments

ExxonMobil sells crude oil and natural gas from its producing operations under a variety of contractual obligations, some of which may specify the delivery of a fixed and determinable quantity for periods longer than one year. ExxonMobil also enters into natural gas sales contracts where the source of the natural gas used to fulfill the contract can be a combination of its own production and the spot market. Worldwide, the company is contractually committed to deliver approximately 28 million barrels of oil and 2,500 billion cubic feet of natural gas for the period from 2022 through 2024.

History

Exxon Mobil Corporation was founded in 1870. The company was incorporated in the state of New Jersey in 1882.

Country
Industry:
Petroleum refining
Founded:
1870
IPO Date:
01/02/1968
ISIN Number:
I_US30231G1022
Address:
5959 Las Colinas Boulevard, Irving, Texas, 75039-2298, United States
Phone Number
972-940-6000

Key Executives

CEO:
Woods, Darren
CFO
Mikells, Kathryn
COO:
Data Unavailable