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Source: uk.reuters.com
Exxon Mobil recently announced Tuesday that its oil and gas reserves jumped almost 23% in 2018. This result was driven primarily by increased holdings in the U.S. shale, offshore Guyana and Brazil. The largest publicly-traded U.S. oil producer added 4.5 billion oil-equivalent barrels (boe) of proved oil and gas reserves in 2018, bringing its total to 24.3 billion boe at the end of 2018. Additions from shale and other unconventional sources contributed 1.2 billion boe. Exxon plans to increase capital spending to $30 billion this year from $26 billion in 2018, which could further increase its oil & gas reserves.
