Exxon Mobil Adds 2.7 Billion Barrels to Reserves Last Year
By Allison Prang
Exxon Mobil Corp. said it added 2.7 billion oil-equivalent barrels of proved oil and gas reserves last year and that it ended the year with 21.2 billion oil-equivalent barrels.
Liquids were a larger part of the of the reserves last year, making up 57%, compared with 53% in 2016.
The oil company said that during 2017 it added 9.8 billion oil-equivalent barrels to its resource base. The total size of that base at the end of the year was about 97 billion oil-equivalent barrels. Last year's addition is the most the company has added since 2010 when it bought XTO Energy, the company said.
Shares of Exxon Mobil were up 0.4% premarket. In the past year, they have fallen 5.6%.
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(END) Dow Jones Newswires
February 08, 2018 09:43 ET (14:43 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.