Profile: Exxon Mobil Corp (XOM.N)

XOM.N on New York Stock Exchange

104.62USD
29 Jul 2014
Price Change (% chg)

$0.25 (+0.24%)
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Exxon Mobil Corporation, incorporated in 1882, is a manufacturer and marketer of commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics and a range of specialty products. It also has interests in electric power generation facilities. The Company has a number of divisions and affiliates with names that include ExxonMobil, Exxon, Esso or Mobil. Divisions and affiliated companies of the Company operate or market products in the United States and other countries of the world. Their principal business is energy, involving exploration for, and production of, crude oil and natural gas, manufacture of petroleum products and transportation and sale of crude oil, natural gas and petroleum products. In January 2012, Apache Corporation acquired the Company's Mobil North Sea Limited assets including the Beryl field and related properties. In April 2013, BNK Petroleum (US) Inc. sold Tishomingo Field, Oklahoma assets other than the Caney and upper Sycamore formations to XTO Energy Inc., a subsidiary of Exxon Mobil Corporation.

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 light, sweet, synthetic crude oil. Imperial Oil Limited is the owner of a 25% interest in the joint venture. Exxon Mobil Corporation has a 69.6% interest in Imperial Oil Limited. In 2012, the Company’s share of net production of synthetic crude oil was about 69 thousand barrels per day and share of net acreage was about 63 thousand acres in the Athabasca oil sands deposit. The Kearl project 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% interest in the joint venture and ExxonMobil Canada Properties holds the other 29.04%. Exxon Mobil Corporation has a 69.6% interest in Imperial Oil Limited and a 100% interest in ExxonMobil Canada Properties. Kearl is comprised of six oil sands leases covering about 48 thousand acres in the Athabasca oil sands deposit. The Kearl project is located approximately 40 miles north of Fort McMurray, Alberta, Canada.

United States

As of December 31, 2012, the Company's acreage holdings in the United States totaled 5.6 million net acres, of which 2.2 million net acres were offshore. ExxonMobil was active in areas onshore and offshore in the lower 48 states and in Alaska. During the year ended December 31, 2012, 1,142.7 net exploration and development wells were completed in the inland lower 48 states. Development activities focused on the San Joaquin Basin of California, the Woodford Shale of Oklahoma, the Bakken oil play in North Dakota and Montana, the Permian Basin of West Texas and New Mexico, the Marcellus Shale of Pennsylvania and West Virginia, the Haynesville Shale of Texas and Louisiana, the Barnett Shale of North Texas, the Fayetteville Shale of Arkansas, and the Freestone Trend of East Texas. During 2012, ExxonMobil’s net acreage in the Gulf of Mexico was 2.1 million acres. Participation in Alaska production and development continued with a total of 15.0 net development wells completed. During 2012, a total of 2.6 net exploration and development wells were completed.

Canada/South America

As of December 31, 2012,the Company's acreage holdings in Canada totaled 5.2 million net acres, of which 1.5 million net acres were offshore. During 2012, a total of 44.1 net exploration and development wells were completed. As of December 31, 2012, its in situ bitumen acreage holdings totaled 0.5 million net onshore acres. A total of 31.0 net development wells were completed during 2012. The Company's net acreage in Argentina totaled 1.0 million onshore acres as of 2012, and there was 0.5 net development well completed during 2012.

Europe

As of December 31, 2012, a total of 4.9 million net onshore acres and 0.1 million net offshore acres in Germany were held by the Company, with 6.1 net exploration and development wells completed during 2012. Its net interest in licenses totaled approximately 1.5 million acres in Netherlands in 2012, a total of 5.7 net exploration and development wells were completed during 2012. Its net interest in licenses at year-end 2012, in Norway totaled approximately 1.0 million acres, a total of 5.7 net exploration and development wells were completed during 2012.The Company's net interest in licenses at year-end 2012, in United Kingdom totaled approximately 0.4 million acres, all offshore, a total of 0.9 net development wells were completed during 2012.

Africa

As of December 31, 2012, the Company's acreage holdings in Angola totaled 0.4 million net offshore acres and 5.4 net exploration and development wells were completed during 2012. The Company's net 2012, acreage holdings in Chad consisted of 46 thousand onshore acres, with 26.8 net development wells completed during 2012. During 2012, the Company's Equatorial Guinea acreage totaled 0.1 million net offshore acres. The Company's net Nigeria acreage totaled 0.9 million offshore acres during 2012, with 7.8 net exploration and development wells completed during 2012.

Asia

In 2012,the Company's net acreage totaled 9 thousand offshore acres in Azerbaijan, a total of 0.4 net development wells were completed during 2012. Work continued on the Chirag Oil project. During 2012,the Company had 5.5 million net acres, 3.4 million net acres offshore and 2.1 million net acres onshore in Indonesia, a total of 2.3 net exploration wells were completed during 2012. Project work continued on the full field development at Banyu Urip. During 2012, ExxonMobil’s onshore acreage was 0.9 million net acres in Iraq, a total of 21.6 net development wells were completed at the West Qurna Phase I oil field during 2012. During 2012, the Company's net acreage totaled 0.1 million acres onshore and 0.2 million acres offshore in Kazakhstan, a total of 0.2 net development wells were completed during 2012.

During 2012, the Company had interests in production sharing contracts covering 0.4 million net acres offshore in Malaysia, a total of 6.9 net exploration and development wells were completed during 2012. Through its joint ventures with Qatar Petroleum, the Company's net acreage totaled 65 thousand acres offshore in Qutar, a total of 1.4 net development wells were completed during 2012. The Company participated in 61.8 million tons per year gross liquefied natural gas capacity at year end. Development activities continued on the Barzan project. During 2012, the Company's net acreage in the Republic of Yemen production sharing areas totaled 10 thousand acres onshore. During 2012, the Company's net acreage holdings in Russia were 85 thousand acres, all offshore, a total of 0.6 net development wells were completed. Development activities continued on the Arkutun-Dagi project during 2012. During 2012, the Company's net onshore acreage in Thailand concessions totaled 21 thousand acres. During 2012, the Company's net acreage in the Abu Dhabi offshore Upper Zakum oil concession was 81 thousand acres, of which 0.4 million acres are onshore. During 2012, a total of 5.6 net development wells were completed. During 2012, the Company's net acreage in the Abu Dhabi onshore oil concession was 0.5 million acres of which 0.4 million acres are onshore. During 2012, a total of 5.6 net development wells were completed.

Australia/Oceania

During 2012, the Company's acreage holdings totaled 1.8 million net acres, of which 1.6 million net acres were offshore, a total of 1.1 net exploration wells were completed during 2012. Project construction activity for the co-venture operated Gorgon liquefied natural gas (LNG) project progressed in 2012. The project consists of a subsea infrastructure for offshore production and transportation of the gas, and 15.6 million tons per year LNG facility and 280 million cubic feet per day domestic gas plant located on Barrow Island, Western Australia. During 2012, A total of 0.9 million net onshore acres were held by ExxonMobil in Papua New Guinea, with 1.3 net exploration and development wells completed during 2012. Work continued on the Papua New Guinea (PNG) LNG project. The project consists of conditioning facilities in the southern PNG Highlands, a 6.9 million tons per year LNG facility near Port Moresby and approximately 434 miles of onshore and offshore pipelines.

Company Address

Exxon Mobil Corp

5959 LAS COLINAS BLVD
IRVING   TX   75039-2298
P: +1972.4441000
F: +1972.4441505

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