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17 Pages

ExxonMobil oil and gas exploration summary

ExxonMobil oil and gas exploration summary

Report summary

ExxonMobil's integrated business model continues to serve it well during the oil price downturn; its scale and diversity have help protect it. In the past it followed a highly successful strategy of resource capture through accessing Discovered Resource Opportunities  in the Middle East and in unconventional oil and gas. However, increasing resource access challenges and tougher terms led the company to refocus on exploration. It has a strong position in deepwater acreage, second only to Shell among the Majors. Much of the acreage lies outside proven basins, but the discovery of the world-class Liza field in Guyana is justifying this approach. Key elements of future strategy include exploring in the most profitable areas where discoveries can be tied back to existing infrastructure; accessing new areas with high-impact potential, including Guyana and the US Gulf of Mexico; and resuming activity in the Russian Arctic and deepwater Black Sea if sanctions are lifted in the future.

What's included?

This report includes 2 file(s)

  • ExxonMobil oil and gas exploration summary PDF - 640.15 KB 17 Pages, 6 Tables, 18 Figures
  • ExxonMobil.xls XLS - 628.50 KB


Affected by supply and demand, the economy of individual countries and technological breakthroughs, oil and gas exploration is an industry in constant motion. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.

This Exploration Summary report quantifies the company's exploration volume and value performance over the past 10 years, and reviews its outlook for future success.

Businesses can use this report to get a detailed analysis of this company, what exploration areas they're involved in, what wells to watch and how well placed they are. It will help you understand company performance and shows how the best explorers have achieved their success.

Wood Mackenzie benchmarks exploration results for over 40 companies. Our analysts provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies. We are the established global industry standard for oil and gas exploration performance.

  • Executive summary
  • Strategy
    • Upstream strategy
    • Exploration outlook
      • Evolution of exploration strategy
  • Investment and costs
  • Exploration
    • Well data
  • Reserves and resources
  • Production
  • Valuation
    • Resource additions from both legacy and new basins
    • Shifting focus to high-impact acreage brings higher costs but great potential
    • Unconventionals: organic growth off the back of acquisitions

In this report there are 24 tables or charts, including:

  • Executive summary
    • Basins drilled and all conventional & organic unconventional discoveries 2006-2015
    • Ten year performance summary
  • Strategy
    • SWOT Grid
    • Net active acreage by water depth
    • Net active acreage by country
  • Investment and costs
    • Exploration & appraisal spend and reinvestment
    • Exploration & appraisal spend by water depth
    • Exploration & appraisal spend by basin maturity
    • Discovery costs by water depth
  • Exploration
    • Gross conventional exploration & appraisal wells by basin and sector
    • Exploration wells drilled and spend per well
    • Exploration success rates
  • Reserves and resources
    • Top 40 discoveries (2006 to 2015)
    • Key organic unconventional plays
    • Volumes discovered by year
    • Volumes discovered by water depth
    • Volumes discovered by country
    • Volumes discovered by basin
  • Production
    • Production from new field discoveries and organic unconventionals, and as a proportion of all future production
  • Valuation
    • Full-cycle economics
    • Full cycle value creation by year, with uncons
    • Exploration returns by year, with uncons
    • Costs and development value by reserve category
    • Exploration returns by water depth
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