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ExxonMobil adds 2.7B barrels oil equivalent to reserves; replaces 183% of 2017 production

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billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183% of production. billion oil-equivalent barrels at year-end 2017. ExxonMobil’s reserves life at current production rates is 14 years. billion gross oil-equivalent barrels prior to the 2018 Ranger discovery.

2017 186
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Exxon Mobil Acquiring XTO Energy in $41B Deal; Enhances US Position in Unconventional Natural Gas and Oil

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The agreement, which is subject to XTO stockholder approval and regulatory clearance, will enhance ExxonMobil’s position in the development of unconventional natural gas and oil resources. XTO’s resource base is the equivalent of 45 trillion cubic feet of gas and includes shale gas, tight gas, coal bed methane and shale oil.

Oil 186
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Why Wall Street is throwing billions at the Permian

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The collapse of oil prices has ground shale drilling to a halt, but the one region where drilling is still active, and even increasing, is in West Texas. The West Texas shale basin has captured two-thirds of the 90 oil rigs that have been added since hitting a nadir in May. by Nick Cunningham of Oilprice.com. told the WSJ.