Exploration success helps ExxonMobil add 2.7 billion barrels to reserves

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U.S. oil and gas major ExxonMobil has added 2.7 billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183 percent of production.

ExxonMobil’s proved reserves totaled 21.2 billion oil-equivalent barrels at year-end 2017, the company said on Thursday.

Liquids represented 57 percent of the reserves, up from 53 percent in 2016. ExxonMobil’s reserves life at current production rates is 14 years.

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