EM
$610.7B
USD
Market cap · 2026–07 · week 29
🇺🇸 United States, Spring
Country
Oil & Gas
Sector
Integrated Oil & Gas · Senior · Upstream · Oil-weighted · Oil · Asia · South America · USA
Last updated 21 June 2026
Data compiled from public filings — information only, not investment advice. AI‑assisted; see methodology.
Overview:
Exxon Mobil Corporation is a senior integrated oil and gas producer headquartered in Spring, Texas, operating globally across the full hydrocarbon and chemicals value chain. The portfolio is organized into four business lines: Upstream exploration and production, Energy Products (refining and fuels), Chemical Products, and Specialty Products, complemented by a Low Carbon Solutions business. Key upstream assets include the Permian Basin in West Texas and New Mexico, the Stabroek Block offshore Guyana, global LNG operations, and the Kearl oil sands joint venture in Canada. The advantaged-asset core of Permian, Guyana, and LNG currently supplies about two-thirds of global production and is expected to grow as a share of the mix. The business model integrates upstream resource extraction with downstream refining, chemical manufacturing, and specialty products to capture value across the chain and dampen single-segment volatility. Processing and production infrastructure spans large refineries, chemical plants, LNG trains such as the Golden Pass export project, and oil sands extraction and froth-treatment facilities. The enterprise leverages scale, proprietary technology, and a global footprint to sustain competitiveness. It remains exposed to commodity price cycles, evolving greenhouse-gas regulation, and geopolitical and security risks across its operating regions.
Strategy:
Strategic focus centers on building an industry-leading portfolio underpinned by advantaged, low cost-of-supply growth projects, particularly in the Permian Basin, offshore Guyana, and LNG expansion opportunities in Qatar, Mozambique, Papua New Guinea, and the United States. The enterprise intends to increase Permian Basin production to approximately 2.5 million oil-equivalent barrels per day by 2030 and anticipates eight floating production, storage and offloading vessels in operation on the Stabroek Block by year-end 2030, having taken a 2025 final investment decision on the Hammerhead development. Capital allocation is prioritized toward low cost-of-supply opportunities and disciplined expense management, targeting $20 billion of structural cost savings between 2019 and 2030, of which an estimated cumulative $15.1 billion had been realized through 2025. A core objective is to advance lower-emission investments through the Low Carbon Solutions business, focused on carbon capture and storage, hydrogen and ammonia, lower-emission fuels, and lithium. The organization continues to expand advanced recycling capacity to convert hard-to-recycle plastic waste into feedstock, reinforcing its specialty and chemical growth ambitions.
Management:
Executive leadership is headed by Chairman of the Board and Chief Executive Officer Darren W. Woods, who has held the combined role since January 1, 2017. The senior team includes Senior Vice President and Chief Financial Officer Neil A. Hansen, appointed effective February 1, 2026, and Senior Vice President Jack P. Williams, Jr., who has served in that role since June 1, 2014. The Board of Directors oversees corporate strategy and enterprise risk management, including cybersecurity and environmental compliance, and discharges its responsibilities through standing committees covering audit and compensation among other functions. Governance practices emphasize rigorous internal control over financial reporting and a structured enterprise risk-management system designed to identify and manage risk across the upstream, downstream, chemical, and specialty businesses. The Board oversees cybersecurity risk through a dedicated program detailed in the company's risk-management disclosures, reflecting the Corporation's regular exposure to attempted disruptions from state-sponsored and other actors. The framework is anchored by Corporate Governance Guidelines and a Code of Ethics and Business Conduct that set expectations for directors, officers, and employees, and the chief executive officer also serves as the chief operating decision maker for segment-performance review.
Sustainability:
The organization's sustainability framework includes an announced ambition to achieve net-zero Scope 1 and 2 greenhouse-gas emissions across its operated assets by 2050, supported by asset-level emission-reduction roadmaps first completed in 2022. A near-term milestone targets net-zero Scope 1 and 2 emissions in the integrated Permian Basin operated assets, including the acquired Pioneer assets, by 2035. By 2030, the company plans corporate-wide reductions in greenhouse-gas intensity, methane intensity, and flaring intensity relative to a 2016 baseline, alongside an objective to eliminate routine flaring in line with the World Bank Zero Routine Flaring initiative and to reach near-zero methane emissions from operated assets. The enterprise is scaling advanced recycling, expanding capacity at its Baytown facility to process hard-to-recycle plastic waste toward a targeted global recycling capacity, and is developing carbon capture and storage, hydrogen, ammonia, and lithium projects through its Low Carbon Solutions business. Additional lower-emission and specialty initiatives span projects to produce hydrogen and ammonia, lower-emission fuels, Proxxima resin systems, carbon materials, and lithium. These initiatives are intended to position the Corporation to play a leading role in the energy transition as supportive policy and technology develop, while management cautions that net-zero pathways remain dependent on policy support and technological advancement that society has not yet achieved.
Structure:
A transformational structural change occurred on May 3, 2024, when the Corporation acquired Pioneer Natural Resources Company in an all-stock transaction, issuing 545 million shares with a fair value of approximately $63 billion and assuming debt with a fair value of about $5 billion, significantly expanding its Permian Basin footprint. On November 2, 2023, the entity acquired Denbury Inc., a developer of carbon capture, utilization, and storage solutions with enhanced oil recovery and Gulf Coast and Rocky Mountain operations, through the issuance of 46 million shares valued at approximately $4.8 billion. The corporate structure includes numerous joint ventures and equity companies, including a 25% interest in Tengizchevroil, LLP in Kazakhstan, a 16.8% working interest in the Kashagan field, and a 7.5% interest in the Caspian Pipeline Consortium that exports the associated production. In the Kearl oil sands joint venture, Imperial Oil Limited holds a 70.96% interest and ExxonMobil Canada Properties the remaining 29.04%, with the Corporation holding a 69.6% interest in Imperial Oil. In November 2025, the company completed the divestment of Esso Société Anonyme Française SA and ExxonMobil Chemical France SAS, including the associated refinery and related assets.
Hedge:
The Corporation uses commodity-based contracts, including derivatives, to manage commodity price risk and to generate returns from trading activities, recognizing in earnings all gains and losses on derivatives for which hedge accounting is not applied. It operates a program to hedge certain fixed-rate debt instruments against changes in fair value due to changes in the designated benchmark interest rate, using fixed-for-floating interest rate swaps under fair value hedge accounting, with swap settlement dates corresponding to the interest payments on the hedged debt. At December 31, 2025, the net notional position of derivative instruments comprised a short position of 449 million MMBTUs of natural gas and a short position of 27 million barrels of petroleum products, alongside a long position of 6 million barrels of crude oil. These positions reflect both trading activity and the management of price exposure across the integrated portfolio.
Source:
Exxon Mobil Corporation - 10-K Filing - 2025
Portfolio Aggregate · 2 projects
Portfolio mode — asset rows are for context only; tab totals use the company aggregation.
ExxonMobil Worldwide Upstream
Portfolio
United States
Oil
5/5
Natural gas
5/5
Oil Gas
Type
Operating
Status
🇺🇸 United States
Country
Project information
As at 31 December 2025
Aggregation level:
Company portfolio
Aggregation level:
Company portfolio
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Conventional Oil Gas
Extraction:
Conventional Oil Gas
Description
As at 31 December 2025
Worldwide proved-reserves and production rollup for Exxon Mobil Corporation (consolidated subsidiaries plus equity companies). Total proved reserves of 19.3 GOEB at YE2025 (vs 19.6 GOEB YE2024); 7.0 GOEB (36%) proved undeveloped. In 2025, ~1.4 GOEB transferred from proved undeveloped to developed; extensions/discoveries added ~2.1 GOEB (primarily US and Guyana); ~1.0 GOEB reclassified out of proved (primarily US); asset sales 0.1 GOEB; production 1.8 GOEB. $19.0B invested in 2025 to progress proved undeveloped development ($18.8B oil & gas producing activities). 2025 upstream production 4.7 Moebd — highest in over 40 years; ~2/3 of global production from Permian, Guyana and LNG. 12% of YE2025 proved reserves under PSC arrangements. PUDs held >5 years concentrated in Australia (Gorgon-Jansz compression) and UAE (Upper Zakum).
Portfolio Aggregate
Multiple effective dates · 1P
| Commodity | Production | Reserves & Resources | Production value (est.) |
|---|---|---|---|
|
Oil
|
825.63 mmboe/yr
|
8 187 mmboe 1P
|
$63.4B (70%)
USD 76.8 / bbl
|
|
Natural gas
|
513.55 mmboe/yr
|
6 068 mmboe 1P
|
$9.1B (10%)
USD 2.95 / mcf
|
|
NGL
|
223.38 mmboe/yr
|
2 437 mmboe 1P
|
$8.9B (10%)
≈ $40 / bbl mixed-NGL netback
|
|
Bitumen
|
140.53 mmboe/yr
|
2 330 mmboe 1P
|
$7.0B (8%)
≈ $50 / bbl pre-upgrade
|
|
Synthetic crude
|
24.82 mmboe/yr
|
288 mmboe 1P
|
$2.0B (2%)
≈ $80 / bbl
|
Commodity
Production
Reserves & Resources
Production value (est.)
Oil
825.63 mmboe/yr
8 187 mmboe 1P
$63.4B (70%)
USD 76.8 / bbl
Commodity
Production
Reserves & Resources
Production value (est.)
Natural gas
513.55 mmboe/yr
6 068 mmboe 1P
$9.1B (10%)
USD 2.95 / mcf
Commodity
Production
Reserves & Resources
Production value (est.)
NGL
223.38 mmboe/yr
2 437 mmboe 1P
$8.9B (10%)
≈ $40 / bbl mixed-NGL netback
Commodity
Production
Reserves & Resources
Production value (est.)
Bitumen
140.53 mmboe/yr
2 330 mmboe 1P
$7.0B (8%)
≈ $50 / bbl pre-upgrade
Commodity
Production
Reserves & Resources
Production value (est.)
Synthetic crude
24.82 mmboe/yr
288 mmboe 1P
$2.0B (2%)
≈ $80 / bbl
Portfolio Aggregate — Assumptions & Disclaimers
Assumptions
- When a Portfolio Aggregate row exists, individual asset rows are not summed into it — that would double-count.
- The aggregate typically comes from the annual reserves statement and may use a different effective date than individual asset rows.
- Production value (est.) is attributable annual production × the resolved commodity price (compact USD with an optional mix share in parentheses when multiple commodities contribute; short price label on the second line). Estimated lifetime is not shown on this table — use per-asset Oil & Gas sections for reserve life.
Disclaimer
- Portfolio-level rollups are convenient for company-vs-company comparisons but can mask asset-level concentration risk: a single producing field or mine may account for the majority of the rollup figure.
Oil & Gas inventory & footprint
Multiple effective dates
| Land (net acres) | Wellbore stock (net wells) | Drilling runway (net locations) | Breakeven & type curve | Drilling activity (latest FY) | Active stock (latest) |
|---|---|---|---|---|---|
|
-
|
-
|
-
|
-
|
733 drilled
FY 2025
|
518 WIP
|
Land (net acres)
Wellbore stock (net wells)
Drilling runway (net locations)
Breakeven & type curve
Drilling activity (latest FY)
Active stock (latest)
-
-
-
-
733 drilled
FY 2025
518 WIP
Oil & Gas inventory & footprint — Assumptions & Disclaimers
Assumptions
- Grain. One row per asset (not per commodity). Per-commodity reserves and production stay on the Oil & Gas table immediately above; this section answers the orthogonal question of land, wellbore stock, drilling runway and recent activity.
- Rail. All counts and acreages are NET (working-interest share) — the investor's actual exposure, not the operator's gross filing. Where a source only publishes gross figures, the cell falls back to '–'.
- Acres. Developed + undeveloped net acres at the latest effective_date; total net acres and the developed share (% of total) are on the first line, with developed and undeveloped magnitudes on the second line.
- Wellbore stock. Latest producing_wells_net is the headline; non_producing_wells_net (shut-in, suspended, behind-pipe) is added as '+ N non-producing' when the filer separates them.
- Drilling runway. 'Net locations' is management's headline identified-inventory count at the disclosed breakeven. 'Booked PUD' is the subset already booked as Proved Undeveloped reserves on the Oil & Gas table above; the remainder is the 'shadow inventory' — economic at the stated breakeven but excluded from booked reserves by the SEC five-year PUD rule, trailing-12-month pricing or the reasonable-certainty standard.
- Breakeven & type curve. Breakeven price defaults to USD per bbl WTI; non-WTI / non-USD benchmarks are echoed inline. EUR per well is taken as published; do not sum across assets with different unit families (mboe / mmboe / mbbl / mmbbl / bcf / tcf).
- Activity. Flow rows (wells drilled, wells completed) use the latest period_year on the latest period_type. Stock rows (DUC count, rigs running, completion crews, wells in progress) use the latest effective_date. A blank cell means the company did not disclose that activity_kind.
Disclaimer
- Footprint and runway are stocks at a point in time and may straddle the reserves effective date by up to a quarter. Net economic locations are a management estimate at a stated breakeven price — re-pricing the deck or changing the benchmark can move the number materially without any underlying reserves change. Shadow inventory should be read as 'optionality the operator believes economic', not 'reserves'. DUC and rigs-running counts at one effective_date are leading indicators of near-term production but are not commitments. Carried interests, area-of-mutual-interest agreements and joint-venture mechanics can cause the disclosed net figure to drift from a naive net = gross × working-interest calculation. EUR per well is blended across formations unless the source split it; cross-operator comparison is indicative only.
Reserves & resources — detail
As at 31 December 2025
Reserves & resources — detail — Assumptions & Disclaimers
Assumptions
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
Disclaimer
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Reserves walk · Gross (disclosed)
| Project | Commodity | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Category / dev_status | Reporting basis | Pricing case | Opening | + Ext. & disc. | + Revisions | + Improved rec. | + Purchases | Combined added | − Divestitures | − Production | Combined used | ± Conv. to developed | Net change | Closing | Balance check | ||
|
2023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ExxonMobil Worldwide Upstream (Portfolio)
|
Oil
|
1P
|
Net
|
Sec
|
7 167 mmboe
|
460 mmboe
|
−198 mmboe
|
0
|
156 mmboe
|
418 mmboe
|
−124 mmboe
|
−614 mmboe
|
−738 mmboe
|
0
|
1 156 mmboe
|
6 847 mmboe
|
✓
|
|
ExxonMobil Worldwide Upstream (Portfolio)
|
Natural gas
|
1P
|
Net
|
Sec
|
6 271 mmboe
|
332.83 mmboe
|
−270.33 mmboe
|
0
|
1.17 mmboe
|
63.67 mmboe
|
−77 mmboe
|
−513.67 mmboe
|
−590.67 mmboe
|
0
|
654.33 mmboe
|
5 744 mmboe
|
✓
|
|
ExxonMobil Worldwide Upstream (Portfolio)
|
NGL
|
1P
|
Net
|
Sec
|
1 531 mmboe
|
272 mmboe
|
−109 mmboe
|
0
|
2 mmboe
|
165 mmboe
|
−6 mmboe
|
−121 mmboe
|
−127 mmboe
|
0
|
292 mmboe
|
1 569 mmboe
|
✓
|
|
ExxonMobil Worldwide Upstream (Portfolio)
|
Bitumen
|
1P
|
Net
|
Sec
|
2 420 mmboe
|
0
|
123 mmboe
|
0
|
0
|
123 mmboe
|
0
|
−129 mmboe
|
−129 mmboe
|
0
|
252 mmboe
|
2 414 mmboe
|
✓
|
|
ExxonMobil Worldwide Upstream (Portfolio)
|
Synthetic crude
|
1P
|
Net
|
Sec
|
353 mmboe
|
0
|
26 mmboe
|
0
|
0
|
26 mmboe
|
0
|
−25 mmboe
|
−25 mmboe
|
0
|
51 mmboe
|
354 mmboe
|
✓
|
|
2024
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ExxonMobil Worldwide Upstream (Portfolio)
|
Oil
|
1P
|
Net
|
Sec
|
6 847 mmboe
|
967 mmboe
|
627 mmboe
|
0
|
877 mmboe
|
2 471 mmboe
|
−74 mmboe
|
−756 mmboe
|
−830 mmboe
|
0
|
3 301 mmboe
|
8 488 mmboe
|
✓
|
|
ExxonMobil Worldwide Upstream (Portfolio)
|
Natural gas
|
1P
|
Net
|
Sec
|
5 744 mmboe
|
459 mmboe
|
−51.83 mmboe
|
0
|
674 mmboe
|
1 081.17 mmboe
|
−33.83 mmboe
|
−533.17 mmboe
|
−567 mmboe
|
0
|
1 648.17 mmboe
|
6 258.17 mmboe
|
✓
|
|
ExxonMobil Worldwide Upstream (Portfolio)
|
NGL
|
1P
|
Net
|
Sec
|
1 569 mmboe
|
489 mmboe
|
−125 mmboe
|
0
|
730 mmboe
|
1 094 mmboe
|
−15 mmboe
|
−170 mmboe
|
−185 mmboe
|
0
|
1 279 mmboe
|
2 478 mmboe
|
✓
|
|
ExxonMobil Worldwide Upstream (Portfolio)
|
Bitumen
|
1P
|
Net
|
Sec
|
2 414 mmboe
|
0
|
152 mmboe
|
0
|
0
|
152 mmboe
|
0
|
−137 mmboe
|
−137 mmboe
|
0
|
289 mmboe
|
2 429 mmboe
|
✓
|
|
ExxonMobil Worldwide Upstream (Portfolio)
|
Synthetic crude
|
1P
|
Net
|
Sec
|
354 mmboe
|
0
|
−35 mmboe
|
0
|
0
|
−35 mmboe
|
0
|
−23 mmboe
|
−23 mmboe
|
0
|
−12 mmboe
|
296 mmboe
|
✓
|
|
2025
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ExxonMobil Worldwide Upstream (Portfolio)
|
Oil
|
1P
|
Net
|
Sec
|
8 488 mmboe
|
988 mmboe
|
−429 mmboe
|
0
|
38 mmboe
|
597 mmboe
|
−72 mmboe
|
−826 mmboe
|
−898 mmboe
|
0
|
1 495 mmboe
|
8 187 mmboe
|
✓
|
|
ExxonMobil Worldwide Upstream (Portfolio)
|
Natural gas
|
1P
|
Net
|
Sec
|
6 258.17 mmboe
|
546.67 mmboe
|
−170.33 mmboe
|
0
|
39 mmboe
|
415.33 mmboe
|
−52.33 mmboe
|
−553.17 mmboe
|
−605.5 mmboe
|
0
|
1 020.83 mmboe
|
6 068 mmboe
|
✓
|
|
ExxonMobil Worldwide Upstream (Portfolio)
|
NGL
|
1P
|
Net
|
Sec
|
2 478 mmboe
|
513 mmboe
|
−366 mmboe
|
0
|
41 mmboe
|
188 mmboe
|
−12 mmboe
|
−217 mmboe
|
−229 mmboe
|
0
|
417 mmboe
|
2 437 mmboe
|
✓
|
|
ExxonMobil Worldwide Upstream (Portfolio)
|
Bitumen
|
1P
|
Net
|
Sec
|
2 429 mmboe
|
0
|
42 mmboe
|
0
|
0
|
42 mmboe
|
0
|
−141 mmboe
|
−141 mmboe
|
0
|
183 mmboe
|
2 330 mmboe
|
✓
|
|
ExxonMobil Worldwide Upstream (Portfolio)
|
Synthetic crude
|
1P
|
Net
|
Sec
|
296 mmboe
|
0
|
17 mmboe
|
0
|
0
|
17 mmboe
|
0
|
−25 mmboe
|
−25 mmboe
|
0
|
42 mmboe
|
288 mmboe
|
✓
|
2023
Category / dev_status
Reporting basis
Pricing case
Opening
+ Ext. & disc.
+ Revisions
+ Improved rec.
+ Purchases
Combined added
− Divestitures
− Production
Combined used
± Conv. to developed
Net change
Closing
Balance check
ExxonMobil Worldwide Upstream (Portfolio)
Oil
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
7 167 mmboe
+ Ext. & disc.
460 mmboe
+ Revisions
−198 mmboe
+ Improved rec.
0
+ Purchases
156 mmboe
Combined added
418 mmboe
− Divestitures
−124 mmboe
− Production
−614 mmboe
Combined used
−738 mmboe
± Conv. to developed
0
Net change
1 156 mmboe
Closing
6 847 mmboe
Balance check
✓
ExxonMobil Worldwide Upstream (Portfolio)
Natural gas
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
6 271 mmboe
+ Ext. & disc.
332.83 mmboe
+ Revisions
−270.33 mmboe
+ Improved rec.
0
+ Purchases
1.17 mmboe
Combined added
63.67 mmboe
− Divestitures
−77 mmboe
− Production
−513.67 mmboe
Combined used
−590.67 mmboe
± Conv. to developed
0
Net change
654.33 mmboe
Closing
5 744 mmboe
Balance check
✓
ExxonMobil Worldwide Upstream (Portfolio)
NGL
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
1 531 mmboe
+ Ext. & disc.
272 mmboe
+ Revisions
−109 mmboe
+ Improved rec.
0
+ Purchases
2 mmboe
Combined added
165 mmboe
− Divestitures
−6 mmboe
− Production
−121 mmboe
Combined used
−127 mmboe
± Conv. to developed
0
Net change
292 mmboe
Closing
1 569 mmboe
Balance check
✓
ExxonMobil Worldwide Upstream (Portfolio)
Bitumen
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
2 420 mmboe
+ Ext. & disc.
0
+ Revisions
123 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
123 mmboe
− Divestitures
0
− Production
−129 mmboe
Combined used
−129 mmboe
± Conv. to developed
0
Net change
252 mmboe
Closing
2 414 mmboe
Balance check
✓
ExxonMobil Worldwide Upstream (Portfolio)
Synthetic crude
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
353 mmboe
+ Ext. & disc.
0
+ Revisions
26 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
26 mmboe
− Divestitures
0
− Production
−25 mmboe
Combined used
−25 mmboe
± Conv. to developed
0
Net change
51 mmboe
Closing
354 mmboe
Balance check
✓
2024
Category / dev_status
Reporting basis
Pricing case
Opening
+ Ext. & disc.
+ Revisions
+ Improved rec.
+ Purchases
Combined added
− Divestitures
− Production
Combined used
± Conv. to developed
Net change
Closing
Balance check
ExxonMobil Worldwide Upstream (Portfolio)
Oil
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
6 847 mmboe
+ Ext. & disc.
967 mmboe
+ Revisions
627 mmboe
+ Improved rec.
0
+ Purchases
877 mmboe
Combined added
2 471 mmboe
− Divestitures
−74 mmboe
− Production
−756 mmboe
Combined used
−830 mmboe
± Conv. to developed
0
Net change
3 301 mmboe
Closing
8 488 mmboe
Balance check
✓
ExxonMobil Worldwide Upstream (Portfolio)
Natural gas
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
5 744 mmboe
+ Ext. & disc.
459 mmboe
+ Revisions
−51.83 mmboe
+ Improved rec.
0
+ Purchases
674 mmboe
Combined added
1 081.17 mmboe
− Divestitures
−33.83 mmboe
− Production
−533.17 mmboe
Combined used
−567 mmboe
± Conv. to developed
0
Net change
1 648.17 mmboe
Closing
6 258.17 mmboe
Balance check
✓
ExxonMobil Worldwide Upstream (Portfolio)
NGL
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
1 569 mmboe
+ Ext. & disc.
489 mmboe
+ Revisions
−125 mmboe
+ Improved rec.
0
+ Purchases
730 mmboe
Combined added
1 094 mmboe
− Divestitures
−15 mmboe
− Production
−170 mmboe
Combined used
−185 mmboe
± Conv. to developed
0
Net change
1 279 mmboe
Closing
2 478 mmboe
Balance check
✓
ExxonMobil Worldwide Upstream (Portfolio)
Bitumen
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
2 414 mmboe
+ Ext. & disc.
0
+ Revisions
152 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
152 mmboe
− Divestitures
0
− Production
−137 mmboe
Combined used
−137 mmboe
± Conv. to developed
0
Net change
289 mmboe
Closing
2 429 mmboe
Balance check
✓
ExxonMobil Worldwide Upstream (Portfolio)
Synthetic crude
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
354 mmboe
+ Ext. & disc.
0
+ Revisions
−35 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
−35 mmboe
− Divestitures
0
− Production
−23 mmboe
Combined used
−23 mmboe
± Conv. to developed
0
Net change
−12 mmboe
Closing
296 mmboe
Balance check
✓
2025
Category / dev_status
Reporting basis
Pricing case
Opening
+ Ext. & disc.
+ Revisions
+ Improved rec.
+ Purchases
Combined added
− Divestitures
− Production
Combined used
± Conv. to developed
Net change
Closing
Balance check
ExxonMobil Worldwide Upstream (Portfolio)
Oil
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
8 488 mmboe
+ Ext. & disc.
988 mmboe
+ Revisions
−429 mmboe
+ Improved rec.
0
+ Purchases
38 mmboe
Combined added
597 mmboe
− Divestitures
−72 mmboe
− Production
−826 mmboe
Combined used
−898 mmboe
± Conv. to developed
0
Net change
1 495 mmboe
Closing
8 187 mmboe
Balance check
✓
ExxonMobil Worldwide Upstream (Portfolio)
Natural gas
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
6 258.17 mmboe
+ Ext. & disc.
546.67 mmboe
+ Revisions
−170.33 mmboe
+ Improved rec.
0
+ Purchases
39 mmboe
Combined added
415.33 mmboe
− Divestitures
−52.33 mmboe
− Production
−553.17 mmboe
Combined used
−605.5 mmboe
± Conv. to developed
0
Net change
1 020.83 mmboe
Closing
6 068 mmboe
Balance check
✓
ExxonMobil Worldwide Upstream (Portfolio)
NGL
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
2 478 mmboe
+ Ext. & disc.
513 mmboe
+ Revisions
−366 mmboe
+ Improved rec.
0
+ Purchases
41 mmboe
Combined added
188 mmboe
− Divestitures
−12 mmboe
− Production
−217 mmboe
Combined used
−229 mmboe
± Conv. to developed
0
Net change
417 mmboe
Closing
2 437 mmboe
Balance check
✓
ExxonMobil Worldwide Upstream (Portfolio)
Bitumen
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
2 429 mmboe
+ Ext. & disc.
0
+ Revisions
42 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
42 mmboe
− Divestitures
0
− Production
−141 mmboe
Combined used
−141 mmboe
± Conv. to developed
0
Net change
183 mmboe
Closing
2 330 mmboe
Balance check
✓
ExxonMobil Worldwide Upstream (Portfolio)
Synthetic crude
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
296 mmboe
+ Ext. & disc.
0
+ Revisions
17 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
17 mmboe
− Divestitures
0
− Production
−25 mmboe
Combined used
−25 mmboe
± Conv. to developed
0
Net change
42 mmboe
Closing
288 mmboe
Balance check
✓
Reserves walk · Gross (disclosed) — Assumptions & Disclaimers
Assumptions
- Per METALPILOT model invariants: closing = opening + Σ deltas. Rows are rendered as disclosed (gross reporting basis), grouped by period year. Signs follow the source. Combined added rolls up the four additive lines; Combined used rolls up divestitures and production. Net change is combined added minus combined used.
Disclaimer
- Mining / R&R walks are not modelled here. Royalty / stream walks reflect the operator's underlying movement on the gross asset, not cash to the holder. Balance check: ✓ when closing balances within 1% of opening + Σ deltas; otherwise the variance is shown as 'Δ <value> <unit>'.
Reserves walk · Net change by year
| Year | |||||
|---|---|---|---|---|---|
| Oil · 1P · Net change (Δ %) | Natural gas · 1P · Net change (Δ %) | NGL · 1P · Net change (Δ %) | Bitumen · 1P · Net change (Δ %) | Synthetic crude · 1P · Net change (Δ %) | |
|
2023
|
1 156 mmboe (+16%)
|
654.33 mmboe (+10%)
|
292 mmboe (+19%)
|
252 mmboe (+10%)
|
51 mmboe (+14%)
|
|
2024
|
3 301 mmboe (+48%)
|
1 648.17 mmboe (+29%)
|
1 279 mmboe (+82%)
|
289 mmboe (+12%)
|
−12 mmboe (-3%)
|
|
2025
|
1 495 mmboe (+18%)
|
1 020.83 mmboe (+16%)
|
417 mmboe (+17%)
|
183 mmboe (+8%)
|
42 mmboe (+14%)
|
2023
Oil · 1P · Net change (Δ %)
1 156 mmboe (+16%)
Natural gas · 1P · Net change (Δ %)
654.33 mmboe (+10%)
NGL · 1P · Net change (Δ %)
292 mmboe (+19%)
Bitumen · 1P · Net change (Δ %)
252 mmboe (+10%)
Synthetic crude · 1P · Net change (Δ %)
51 mmboe (+14%)
2024
Oil · 1P · Net change (Δ %)
3 301 mmboe (+48%)
Natural gas · 1P · Net change (Δ %)
1 648.17 mmboe (+29%)
NGL · 1P · Net change (Δ %)
1 279 mmboe (+82%)
Bitumen · 1P · Net change (Δ %)
289 mmboe (+12%)
Synthetic crude · 1P · Net change (Δ %)
−12 mmboe (-3%)
2025
Oil · 1P · Net change (Δ %)
1 495 mmboe (+18%)
Natural gas · 1P · Net change (Δ %)
1 020.83 mmboe (+16%)
NGL · 1P · Net change (Δ %)
417 mmboe (+17%)
Bitumen · 1P · Net change (Δ %)
183 mmboe (+8%)
Synthetic crude · 1P · Net change (Δ %)
42 mmboe (+14%)
Reserves walk · Net change by year — Assumptions & Disclaimers
Assumptions
- One row per period year. Columns are attributable net change (combined added − combined used) per commodity × category slice, with Δ% vs opening balance in brackets.
Disclaimer
- Closing balances appear in the gross walk table above. Percentages use opening balance as the denominator.
ExxonMobil Refining & Chemical Portfolio
Portfolio · Operating
United States
Oil
Project information
As at 31 December 2025
Type:
Processing Facility
Type:
Processing Facility
Aggregation level:
Company portfolio
Aggregation level:
Company portfolio
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Processing Facility
Extraction:
Processing Facility
Country:
United States
Country:
United States
Facility kind:
-
Facility kind:
-
Licensed capacity:
4113
Licensed capacity:
4113
Capacity unit:
mbbl
Capacity unit:
mbbl
Capacity period:
Per Day
Capacity period:
Per Day
Capacity kind:
Nameplate
Capacity kind:
Nameplate
Description
As at 31 December 2025
Worldwide refining and chemical manufacturing rollup. ExxonMobil's share of refining capacity totaled 4,113 thousand barrels per day at year-end 2025 across the United States (1,967 kbd), Canada (434 kbd), Europe (853 kbd), Asia Pacific (659 kbd) and the Middle East (200 kbd), with worldwide chemical capacity of 13.1 Mt/yr ethylene, 12.5 Mt/yr polyethylene and 4.1 Mt/yr polypropylene.
Portfolio Aggregate · Processing facilities
As at 31 December 2025
| Commodity | Capacity |
|---|---|
|
Oil
|
4 113 mbbl/Per Day
Nameplate
|
Commodity
Capacity
Oil
4 113 mbbl/Per Day
Nameplate
Portfolio Aggregate · Processing facilities — Assumptions & Disclaimers
Assumptions
- Scope: company-wide processing / midstream rollups (refining, pipelines, fractionation, storage, LNG). They are split from the upstream Portfolio Aggregate so each table only shows columns it can populate.
- Capacity is the consolidated nameplate / contracted / licensed capacity from the project record, not period throughput. Production, reserves and production value are intentionally omitted — processing rollups carry no contained-volume × price economics in this model.
- When a Portfolio Aggregate row exists, individual facility rows are not summed into it — that would double-count.
Disclaimer
- Nameplate / licensed capacity is an engineering maximum; sustained utilisation may be lower because of maintenance, environmental limits, commercial contracts, weather or feedstock availability. Processing margins (refining crack spreads, fractionation spreads) are commodity-specific and may not be visible on this page.
Operating · 19 projects
Bacalhau
Asset
Brazil, Offshore Brazil
Oil Gas
Type
Operating
Status
🇧🇷 Brazil, Offshore Brazil
Country
Project information
As at 31 December 2025
Aggregation level:
Asset
Aggregation level:
Asset
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Offshore
Extraction:
Offshore
Description
As at 31 December 2025
Deepwater development offshore Brazil. Bacalhau Phase 1 commenced operations in 2025 with the start-up of its floating production, storage and offloading (FPSO) vessel.
Oil & Gas metrics
| Commodity | Production (rating) | Reserves & Resources (rating) | Estimated Lifetime |
|---|---|---|---|
|
-
|
-
|
-
|
-
|
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
-
-
-
-
Oil & Gas metrics — Assumptions & Disclaimers
Assumptions
- Petroleum reserves are reported under SPE-PRMS, NI 51-101, COGEH or SEC S-K 1200. The headline figure is 2P (Proved + Probable) when disclosed, falling back to 1P (Proved) for SEC-only filers; 3P is shown for transparency only.
- Pricing case. PRMS / NI 51-101 reserves are typically dual-reported under 'Forecast Prices & Costs' and 'Constant / SEC Prices & Costs'. Both cases are shown when disclosed; do not add them together.
- Development status. Petroleum reserves carry an orthogonal developed / undeveloped axis (PDP, PDNP, PUD). Where the source splits the reserve into these buckets we preserve the split.
- Reserves walk tables (if present) disaggregate the change in reserves into Opening balance, Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production, Conversion to developed and Closing balance, following NI 51-101 / SEC S-K 1200 reconciliation requirements.
- Contingent (1C/2C/3C) and Prospective (1U/2U/3U) resources are shown for transparency but do not feed the headline 2P metric and do not contribute to the USD value mix.
- BOE / Mcfe conversion uses a 6:1 thermal ratio unless the source declares otherwise. Thermal convenience only — not economic equivalence.
Disclaimer
- Oil and gas estimates are inherently uncertain. Even Proved (1P) reserves carry an SEC-defined 'reasonable certainty' standard, which is not the same as a guarantee of recovery. Booked reserves are highly sensitive to assumed prices; price-deck changes can move 2P balances by material amounts year-on-year. Contingent and Prospective volumes carry substantial discovery, appraisal, commercial and development risk.
Gorgon-Jansz LNG
Asset · Operating
Australia, Western Australia
Oil Gas
Type
Operating
Status
🇦🇺 Australia, Western Australia
Country
Project information
As at 31 December 2025
Aggregation level:
Asset
Aggregation level:
Asset
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Extraction:
Lng
Extraction:
Lng
Description
As at 31 December 2025
LNG project offshore Western Australia (Chevron-operated; ExxonMobil non-operating interest). Development activities progressed on the Jansz-Io Compression Project in 2025 and the Gorgon Stage 3 project was fully funded. ExxonMobil's Australian proved undeveloped gas reserves are associated with future compression for the Gorgon-Jansz project and have remained undeveloped five years or more due to infrastructure capacity constraints. Australia and Papua New Guinea together account for 22.5 Mt/yr of LNG capacity.
Oil & Gas metrics
| Commodity | Production (rating) | Reserves & Resources (rating) | Estimated Lifetime |
|---|---|---|---|
|
-
|
-
|
-
|
-
|
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
-
-
-
-
Oil & Gas metrics — Assumptions & Disclaimers
Assumptions
- Petroleum reserves are reported under SPE-PRMS, NI 51-101, COGEH or SEC S-K 1200. The headline figure is 2P (Proved + Probable) when disclosed, falling back to 1P (Proved) for SEC-only filers; 3P is shown for transparency only.
- Pricing case. PRMS / NI 51-101 reserves are typically dual-reported under 'Forecast Prices & Costs' and 'Constant / SEC Prices & Costs'. Both cases are shown when disclosed; do not add them together.
- Development status. Petroleum reserves carry an orthogonal developed / undeveloped axis (PDP, PDNP, PUD). Where the source splits the reserve into these buckets we preserve the split.
- Reserves walk tables (if present) disaggregate the change in reserves into Opening balance, Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production, Conversion to developed and Closing balance, following NI 51-101 / SEC S-K 1200 reconciliation requirements.
- Contingent (1C/2C/3C) and Prospective (1U/2U/3U) resources are shown for transparency but do not feed the headline 2P metric and do not contribute to the USD value mix.
- BOE / Mcfe conversion uses a 6:1 thermal ratio unless the source declares otherwise. Thermal convenience only — not economic equivalence.
Disclaimer
- Oil and gas estimates are inherently uncertain. Even Proved (1P) reserves carry an SEC-defined 'reasonable certainty' standard, which is not the same as a guarantee of recovery. Booked reserves are highly sensitive to assumed prices; price-deck changes can move 2P balances by material amounts year-on-year. Contingent and Prospective volumes carry substantial discovery, appraisal, commercial and development risk.
Upper Zakum
Asset · Operating
United Arab Emirates, Abu Dhabi
Oil Gas
Type
Operating
Status
🇦🇪 United Arab Emirates, Abu Dhabi
Country
Project information
As at 31 December 2025
Aggregation level:
Asset
Aggregation level:
Asset
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Extraction:
Offshore
Extraction:
Offshore
Description
As at 31 December 2025
Producing offshore field in the United Arab Emirates under phased development. Ongoing activities continued in 2025 on the phased development of the field. Proved undeveloped reserves associated with an approved development plan and continued drilling investment have remained undeveloped for five years or more due to the time required to complete development of this very large project.
Oil & Gas metrics
| Commodity | Production (rating) | Reserves & Resources (rating) | Estimated Lifetime |
|---|---|---|---|
|
-
|
-
|
-
|
-
|
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
-
-
-
-
Oil & Gas metrics — Assumptions & Disclaimers
Assumptions
- Petroleum reserves are reported under SPE-PRMS, NI 51-101, COGEH or SEC S-K 1200. The headline figure is 2P (Proved + Probable) when disclosed, falling back to 1P (Proved) for SEC-only filers; 3P is shown for transparency only.
- Pricing case. PRMS / NI 51-101 reserves are typically dual-reported under 'Forecast Prices & Costs' and 'Constant / SEC Prices & Costs'. Both cases are shown when disclosed; do not add them together.
- Development status. Petroleum reserves carry an orthogonal developed / undeveloped axis (PDP, PDNP, PUD). Where the source splits the reserve into these buckets we preserve the split.
- Reserves walk tables (if present) disaggregate the change in reserves into Opening balance, Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production, Conversion to developed and Closing balance, following NI 51-101 / SEC S-K 1200 reconciliation requirements.
- Contingent (1C/2C/3C) and Prospective (1U/2U/3U) resources are shown for transparency but do not feed the headline 2P metric and do not contribute to the USD value mix.
- BOE / Mcfe conversion uses a 6:1 thermal ratio unless the source declares otherwise. Thermal convenience only — not economic equivalence.
Disclaimer
- Oil and gas estimates are inherently uncertain. Even Proved (1P) reserves carry an SEC-defined 'reasonable certainty' standard, which is not the same as a guarantee of recovery. Booked reserves are highly sensitive to assumed prices; price-deck changes can move 2P balances by material amounts year-on-year. Contingent and Prospective volumes carry substantial discovery, appraisal, commercial and development risk.
Kearl
Asset · Ownership 70.96%
Canada, Alberta, Athabasca Oil Sands
Bitumen
Oil Gas
Type
Operating
Status
🇨🇦 Canada, Alberta (Athabasca Oil Sands)
Country
Project information
As at 31 December 2025
Aggregation level:
Asset
Aggregation level:
Asset
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
70.96
Ownership %:
70.96
Operator:
Yes
Operator:
Yes
Extraction:
Oil Sands Mining
Extraction:
Oil Sands Mining
Description
As at 31 December 2025
Open-pit oil sands mining joint venture ~40 miles north of Fort McMurray, Alberta, in the Athabasca oil sands deposit. Six oil sands leases covering ~49 thousand acres. Bitumen is extracted and processed through bitumen extraction and froth treatment trains; the bitumen-diluent blend is shipped to refineries and third parties. Imperial Oil Limited holds 70.96% and ExxonMobil Canada Properties 29.04% (Exxon Mobil Corporation holds 69.6% of Imperial Oil and 100% of ExxonMobil Canada Properties). 2025 average net production ~264 kbd.
Oil & Gas metrics
As at 31 December 2025
| Commodity | Production (rating) | Reserves & Resources (rating) | Estimated Lifetime |
|---|---|---|---|
|
Bitumen
|
96.36 mmboe/yr
5/5
|
-
|
-
|
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
Bitumen
96.36 mmboe/yr
5/5
-
-
Oil & Gas metrics — Assumptions & Disclaimers
Assumptions
- Petroleum reserves are reported under SPE-PRMS, NI 51-101, COGEH or SEC S-K 1200. The headline figure is 2P (Proved + Probable) when disclosed, falling back to 1P (Proved) for SEC-only filers; 3P is shown for transparency only.
- Pricing case. PRMS / NI 51-101 reserves are typically dual-reported under 'Forecast Prices & Costs' and 'Constant / SEC Prices & Costs'. Both cases are shown when disclosed; do not add them together.
- Development status. Petroleum reserves carry an orthogonal developed / undeveloped axis (PDP, PDNP, PUD). Where the source splits the reserve into these buckets we preserve the split.
- Reserves walk tables (if present) disaggregate the change in reserves into Opening balance, Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production, Conversion to developed and Closing balance, following NI 51-101 / SEC S-K 1200 reconciliation requirements.
- Contingent (1C/2C/3C) and Prospective (1U/2U/3U) resources are shown for transparency but do not feed the headline 2P metric and do not contribute to the USD value mix.
- BOE / Mcfe conversion uses a 6:1 thermal ratio unless the source declares otherwise. Thermal convenience only — not economic equivalence.
Disclaimer
- Oil and gas estimates are inherently uncertain. Even Proved (1P) reserves carry an SEC-defined 'reasonable certainty' standard, which is not the same as a guarantee of recovery. Booked reserves are highly sensitive to assumed prices; price-deck changes can move 2P balances by material amounts year-on-year. Contingent and Prospective volumes carry substantial discovery, appraisal, commercial and development risk.
Oil & Gas inventory & footprint
As at 31 December 2025
| Land (net acres) | Wellbore stock (net wells) | Drilling runway (net locations) | Breakeven & type curve | Drilling activity (latest FY) | Active stock (latest) |
|---|---|---|---|---|---|
|
49k net acres
49k developed
|
-
|
-
|
-
|
-
|
-
|
Land (net acres)
Wellbore stock (net wells)
Drilling runway (net locations)
Breakeven & type curve
Drilling activity (latest FY)
Active stock (latest)
49k net acres
49k developed
-
-
-
-
-
Oil & Gas inventory & footprint — Assumptions & Disclaimers
Assumptions
- Grain. One row per asset (not per commodity). Per-commodity reserves and production stay on the Oil & Gas table immediately above; this section answers the orthogonal question of land, wellbore stock, drilling runway and recent activity.
- Rail. All counts and acreages are NET (working-interest share) — the investor's actual exposure, not the operator's gross filing. Where a source only publishes gross figures, the cell falls back to '–'.
- Acres. Developed + undeveloped net acres at the latest effective_date; total net acres and the developed share (% of total) are on the first line, with developed and undeveloped magnitudes on the second line.
- Wellbore stock. Latest producing_wells_net is the headline; non_producing_wells_net (shut-in, suspended, behind-pipe) is added as '+ N non-producing' when the filer separates them.
- Drilling runway. 'Net locations' is management's headline identified-inventory count at the disclosed breakeven. 'Booked PUD' is the subset already booked as Proved Undeveloped reserves on the Oil & Gas table above; the remainder is the 'shadow inventory' — economic at the stated breakeven but excluded from booked reserves by the SEC five-year PUD rule, trailing-12-month pricing or the reasonable-certainty standard.
- Breakeven & type curve. Breakeven price defaults to USD per bbl WTI; non-WTI / non-USD benchmarks are echoed inline. EUR per well is taken as published; do not sum across assets with different unit families (mboe / mmboe / mbbl / mmbbl / bcf / tcf).
- Activity. Flow rows (wells drilled, wells completed) use the latest period_year on the latest period_type. Stock rows (DUC count, rigs running, completion crews, wells in progress) use the latest effective_date. A blank cell means the company did not disclose that activity_kind.
Disclaimer
- Footprint and runway are stocks at a point in time and may straddle the reserves effective date by up to a quarter. Net economic locations are a management estimate at a stated breakeven price — re-pricing the deck or changing the benchmark can move the number materially without any underlying reserves change. Shadow inventory should be read as 'optionality the operator believes economic', not 'reserves'. DUC and rigs-running counts at one effective_date are leading indicators of near-term production but are not commitments. Carried interests, area-of-mutual-interest agreements and joint-venture mechanics can cause the disclosed net figure to drift from a naive net = gross × working-interest calculation. EUR per well is blended across formations unless the source split it; cross-operator comparison is indicative only.
PNG LNG
Asset · Ownership 33%
Papua New Guinea, Papua New Guinea
Oil Gas
Type
Operating
Status
🇵🇬 Papua New Guinea, Papua New Guinea
Country
Project information
As at 31 December 2025
Aggregation level:
Asset
Aggregation level:
Asset
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
33
Ownership %:
33
Operator:
Yes
Operator:
Yes
Extraction:
Lng
Extraction:
Lng
Description
As at 31 December 2025
Integrated LNG project in Papua New Guinea (ExxonMobil 33% interest in Papua New Guinea Liquefied Natural Gas Global Company LDC). The Papua LNG growth project optimized its development plan in 2025 to enhance cost competitiveness. Australia and Papua New Guinea together account for 22.5 Mt/yr of LNG capacity.
Oil & Gas metrics
| Commodity | Production (rating) | Reserves & Resources (rating) | Estimated Lifetime |
|---|---|---|---|
|
-
|
-
|
-
|
-
|
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
-
-
-
-
Oil & Gas metrics — Assumptions & Disclaimers
Assumptions
- Petroleum reserves are reported under SPE-PRMS, NI 51-101, COGEH or SEC S-K 1200. The headline figure is 2P (Proved + Probable) when disclosed, falling back to 1P (Proved) for SEC-only filers; 3P is shown for transparency only.
- Pricing case. PRMS / NI 51-101 reserves are typically dual-reported under 'Forecast Prices & Costs' and 'Constant / SEC Prices & Costs'. Both cases are shown when disclosed; do not add them together.
- Development status. Petroleum reserves carry an orthogonal developed / undeveloped axis (PDP, PDNP, PUD). Where the source splits the reserve into these buckets we preserve the split.
- Reserves walk tables (if present) disaggregate the change in reserves into Opening balance, Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production, Conversion to developed and Closing balance, following NI 51-101 / SEC S-K 1200 reconciliation requirements.
- Contingent (1C/2C/3C) and Prospective (1U/2U/3U) resources are shown for transparency but do not feed the headline 2P metric and do not contribute to the USD value mix.
- BOE / Mcfe conversion uses a 6:1 thermal ratio unless the source declares otherwise. Thermal convenience only — not economic equivalence.
Disclaimer
- Oil and gas estimates are inherently uncertain. Even Proved (1P) reserves carry an SEC-defined 'reasonable certainty' standard, which is not the same as a guarantee of recovery. Booked reserves are highly sensitive to assumed prices; price-deck changes can move 2P balances by material amounts year-on-year. Contingent and Prospective volumes carry substantial discovery, appraisal, commercial and development risk.
Coral South FLNG
Asset · Ownership 25%
Mozambique, Offshore Mozambique (Area 4)
Oil Gas
Type
Operating
Status
🇲🇿 Mozambique, Offshore Mozambique (Area 4)
Country
Project information
As at 31 December 2025
Aggregation level:
Asset
Aggregation level:
Asset
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
25
Ownership %:
25
Operator:
No
Operator:
No
Extraction:
Lng
Extraction:
Lng
Description
As at 31 December 2025
Floating LNG development offshore Mozambique in which ExxonMobil continued to participate during 2025 (25% interest in Coral FLNG S.A.). Part of the Corporation's Mozambique LNG expansion portfolio alongside the Rovuma LNG project.
Oil & Gas metrics
| Commodity | Production (rating) | Reserves & Resources (rating) | Estimated Lifetime |
|---|---|---|---|
|
-
|
-
|
-
|
-
|
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
-
-
-
-
Oil & Gas metrics — Assumptions & Disclaimers
Assumptions
- Petroleum reserves are reported under SPE-PRMS, NI 51-101, COGEH or SEC S-K 1200. The headline figure is 2P (Proved + Probable) when disclosed, falling back to 1P (Proved) for SEC-only filers; 3P is shown for transparency only.
- Pricing case. PRMS / NI 51-101 reserves are typically dual-reported under 'Forecast Prices & Costs' and 'Constant / SEC Prices & Costs'. Both cases are shown when disclosed; do not add them together.
- Development status. Petroleum reserves carry an orthogonal developed / undeveloped axis (PDP, PDNP, PUD). Where the source splits the reserve into these buckets we preserve the split.
- Reserves walk tables (if present) disaggregate the change in reserves into Opening balance, Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production, Conversion to developed and Closing balance, following NI 51-101 / SEC S-K 1200 reconciliation requirements.
- Contingent (1C/2C/3C) and Prospective (1U/2U/3U) resources are shown for transparency but do not feed the headline 2P metric and do not contribute to the USD value mix.
- BOE / Mcfe conversion uses a 6:1 thermal ratio unless the source declares otherwise. Thermal convenience only — not economic equivalence.
Disclaimer
- Oil and gas estimates are inherently uncertain. Even Proved (1P) reserves carry an SEC-defined 'reasonable certainty' standard, which is not the same as a guarantee of recovery. Booked reserves are highly sensitive to assumed prices; price-deck changes can move 2P balances by material amounts year-on-year. Contingent and Prospective volumes carry substantial discovery, appraisal, commercial and development risk.
Syncrude
Asset · Ownership 25%
Canada, Alberta, Athabasca Oil Sands
Synthetic crude
Oil Gas
Type
Operating
Status
🇨🇦 Canada, Alberta (Athabasca Oil Sands)
Country
Project information
As at 31 December 2025
Aggregation level:
Asset
Aggregation level:
Asset
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
25
Ownership %:
25
Operator:
No
Operator:
No
Operator name:
Syncrude joint venture (Imperial Oil 25% interest)
Operator name:
Syncrude joint venture (Imperial Oil 25% interest)
Extraction:
Oil Sands Mining
Extraction:
Oil Sands Mining
Description
As at 31 December 2025
Joint venture recovering shallow oil sands deposits by open-pit mining and upgrading crude bitumen into high-quality 32° API light sweet synthetic crude oil, in the Athabasca oil sands deposit. Imperial Oil Limited owns a 25% interest in the JV (Exxon Mobil Corporation holds 69.6% of Imperial Oil). 2025 share of net synthetic crude production ~68 kbd; share of net acreage ~55 thousand acres.
Oil & Gas metrics
As at 31 December 2025
| Commodity | Production (rating) | Reserves & Resources (rating) | Estimated Lifetime |
|---|---|---|---|
|
Synthetic crude
|
24.82 mmboe/yr
4/5
|
-
|
-
|
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
Synthetic crude
24.82 mmboe/yr
4/5
-
-
Oil & Gas metrics — Assumptions & Disclaimers
Assumptions
- Petroleum reserves are reported under SPE-PRMS, NI 51-101, COGEH or SEC S-K 1200. The headline figure is 2P (Proved + Probable) when disclosed, falling back to 1P (Proved) for SEC-only filers; 3P is shown for transparency only.
- Pricing case. PRMS / NI 51-101 reserves are typically dual-reported under 'Forecast Prices & Costs' and 'Constant / SEC Prices & Costs'. Both cases are shown when disclosed; do not add them together.
- Development status. Petroleum reserves carry an orthogonal developed / undeveloped axis (PDP, PDNP, PUD). Where the source splits the reserve into these buckets we preserve the split.
- Reserves walk tables (if present) disaggregate the change in reserves into Opening balance, Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production, Conversion to developed and Closing balance, following NI 51-101 / SEC S-K 1200 reconciliation requirements.
- Contingent (1C/2C/3C) and Prospective (1U/2U/3U) resources are shown for transparency but do not feed the headline 2P metric and do not contribute to the USD value mix.
- BOE / Mcfe conversion uses a 6:1 thermal ratio unless the source declares otherwise. Thermal convenience only — not economic equivalence.
Disclaimer
- Oil and gas estimates are inherently uncertain. Even Proved (1P) reserves carry an SEC-defined 'reasonable certainty' standard, which is not the same as a guarantee of recovery. Booked reserves are highly sensitive to assumed prices; price-deck changes can move 2P balances by material amounts year-on-year. Contingent and Prospective volumes carry substantial discovery, appraisal, commercial and development risk.
Oil & Gas inventory & footprint
As at 31 December 2025
| Land (net acres) | Wellbore stock (net wells) | Drilling runway (net locations) | Breakeven & type curve | Drilling activity (latest FY) | Active stock (latest) |
|---|---|---|---|---|---|
|
55k net acres
55k developed
|
-
|
-
|
-
|
-
|
-
|
Land (net acres)
Wellbore stock (net wells)
Drilling runway (net locations)
Breakeven & type curve
Drilling activity (latest FY)
Active stock (latest)
55k net acres
55k developed
-
-
-
-
-
Oil & Gas inventory & footprint — Assumptions & Disclaimers
Assumptions
- Grain. One row per asset (not per commodity). Per-commodity reserves and production stay on the Oil & Gas table immediately above; this section answers the orthogonal question of land, wellbore stock, drilling runway and recent activity.
- Rail. All counts and acreages are NET (working-interest share) — the investor's actual exposure, not the operator's gross filing. Where a source only publishes gross figures, the cell falls back to '–'.
- Acres. Developed + undeveloped net acres at the latest effective_date; total net acres and the developed share (% of total) are on the first line, with developed and undeveloped magnitudes on the second line.
- Wellbore stock. Latest producing_wells_net is the headline; non_producing_wells_net (shut-in, suspended, behind-pipe) is added as '+ N non-producing' when the filer separates them.
- Drilling runway. 'Net locations' is management's headline identified-inventory count at the disclosed breakeven. 'Booked PUD' is the subset already booked as Proved Undeveloped reserves on the Oil & Gas table above; the remainder is the 'shadow inventory' — economic at the stated breakeven but excluded from booked reserves by the SEC five-year PUD rule, trailing-12-month pricing or the reasonable-certainty standard.
- Breakeven & type curve. Breakeven price defaults to USD per bbl WTI; non-WTI / non-USD benchmarks are echoed inline. EUR per well is taken as published; do not sum across assets with different unit families (mboe / mmboe / mbbl / mmbbl / bcf / tcf).
- Activity. Flow rows (wells drilled, wells completed) use the latest period_year on the latest period_type. Stock rows (DUC count, rigs running, completion crews, wells in progress) use the latest effective_date. A blank cell means the company did not disclose that activity_kind.
Disclaimer
- Footprint and runway are stocks at a point in time and may straddle the reserves effective date by up to a quarter. Net economic locations are a management estimate at a stated breakeven price — re-pricing the deck or changing the benchmark can move the number materially without any underlying reserves change. Shadow inventory should be read as 'optionality the operator believes economic', not 'reserves'. DUC and rigs-running counts at one effective_date are leading indicators of near-term production but are not commitments. Carried interests, area-of-mutual-interest agreements and joint-venture mechanics can cause the disclosed net figure to drift from a naive net = gross × working-interest calculation. EUR per well is blended across formations unless the source split it; cross-operator comparison is indicative only.
Tengiz / Korolev (Tengizchevroil)
Asset · Ownership 25%
Kazakhstan, Atyrau
Oil Gas
Type
Operating
Status
🇰🇿 Kazakhstan, Atyrau
Country
Project information
As at 31 December 2025
Aggregation level:
Asset
Aggregation level:
Asset
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
25
Ownership %:
25
Operator:
No
Operator:
No
Operator name:
Tengizchevroil LLP
Operator name:
Tengizchevroil LLP
Extraction:
Conventional Oil Gas
Extraction:
Conventional Oil Gas
Description
As at 31 December 2025
Onshore Tengiz and Korolev oil fields in western Kazakhstan, operated by Tengizchevroil LLP (ExxonMobil 25% interest). The Tengiz Expansion Project was completed in 2025 and production ramped up to nameplate capacity. Crude exports primarily via the Caspian Pipeline Consortium (ExxonMobil 7.5% interest) to Black Sea loading facilities.
Oil & Gas metrics
| Commodity | Production (rating) | Reserves & Resources (rating) | Estimated Lifetime |
|---|---|---|---|
|
-
|
-
|
-
|
-
|
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
-
-
-
-
Oil & Gas metrics — Assumptions & Disclaimers
Assumptions
- Petroleum reserves are reported under SPE-PRMS, NI 51-101, COGEH or SEC S-K 1200. The headline figure is 2P (Proved + Probable) when disclosed, falling back to 1P (Proved) for SEC-only filers; 3P is shown for transparency only.
- Pricing case. PRMS / NI 51-101 reserves are typically dual-reported under 'Forecast Prices & Costs' and 'Constant / SEC Prices & Costs'. Both cases are shown when disclosed; do not add them together.
- Development status. Petroleum reserves carry an orthogonal developed / undeveloped axis (PDP, PDNP, PUD). Where the source splits the reserve into these buckets we preserve the split.
- Reserves walk tables (if present) disaggregate the change in reserves into Opening balance, Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production, Conversion to developed and Closing balance, following NI 51-101 / SEC S-K 1200 reconciliation requirements.
- Contingent (1C/2C/3C) and Prospective (1U/2U/3U) resources are shown for transparency but do not feed the headline 2P metric and do not contribute to the USD value mix.
- BOE / Mcfe conversion uses a 6:1 thermal ratio unless the source declares otherwise. Thermal convenience only — not economic equivalence.
Disclaimer
- Oil and gas estimates are inherently uncertain. Even Proved (1P) reserves carry an SEC-defined 'reasonable certainty' standard, which is not the same as a guarantee of recovery. Booked reserves are highly sensitive to assumed prices; price-deck changes can move 2P balances by material amounts year-on-year. Contingent and Prospective volumes carry substantial discovery, appraisal, commercial and development risk.
Kashagan
Asset · Ownership 16.8%
Kazakhstan, Caspian Sea (Atyrau)
Oil Gas
Type
Operating
Status
🇰🇿 Kazakhstan, Caspian Sea (Atyrau)
Country
Project information
As at 31 December 2025
Aggregation level:
Asset
Aggregation level:
Asset
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
16.8
Ownership %:
16.8
Operator:
No
Operator:
No
Extraction:
Offshore
Extraction:
Offshore
Description
As at 31 December 2025
Offshore Caspian field in Kazakhstan in which the Corporation holds a 16.8% working interest. Oil production is exported primarily through the Caspian Pipeline Consortium (CPC) to tanker-loading facilities on the Russian Black Sea coast.
Oil & Gas metrics
| Commodity | Production (rating) | Reserves & Resources (rating) | Estimated Lifetime |
|---|---|---|---|
|
-
|
-
|
-
|
-
|
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
-
-
-
-
Oil & Gas metrics — Assumptions & Disclaimers
Assumptions
- Petroleum reserves are reported under SPE-PRMS, NI 51-101, COGEH or SEC S-K 1200. The headline figure is 2P (Proved + Probable) when disclosed, falling back to 1P (Proved) for SEC-only filers; 3P is shown for transparency only.
- Pricing case. PRMS / NI 51-101 reserves are typically dual-reported under 'Forecast Prices & Costs' and 'Constant / SEC Prices & Costs'. Both cases are shown when disclosed; do not add them together.
- Development status. Petroleum reserves carry an orthogonal developed / undeveloped axis (PDP, PDNP, PUD). Where the source splits the reserve into these buckets we preserve the split.
- Reserves walk tables (if present) disaggregate the change in reserves into Opening balance, Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production, Conversion to developed and Closing balance, following NI 51-101 / SEC S-K 1200 reconciliation requirements.
- Contingent (1C/2C/3C) and Prospective (1U/2U/3U) resources are shown for transparency but do not feed the headline 2P metric and do not contribute to the USD value mix.
- BOE / Mcfe conversion uses a 6:1 thermal ratio unless the source declares otherwise. Thermal convenience only — not economic equivalence.
Disclaimer
- Oil and gas estimates are inherently uncertain. Even Proved (1P) reserves carry an SEC-defined 'reasonable certainty' standard, which is not the same as a guarantee of recovery. Booked reserves are highly sensitive to assumed prices; price-deck changes can move 2P balances by material amounts year-on-year. Contingent and Prospective volumes carry substantial discovery, appraisal, commercial and development risk.
Angola Deepwater Blocks (incl. Block 15)
District
Angola, Offshore Angola
Oil Gas
Type
Operating
Status
🇦🇴 Angola, Offshore Angola
Country
Project information
As at 31 December 2025
Aggregation level:
District / complex
Aggregation level:
District / complex
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Offshore
Extraction:
Offshore
Description
As at 31 December 2025
Three producing deepwater blocks offshore Angola. In 2025, Block 15 amended its Production Sharing Agreement to extend the production license to 2037, and a total of 1.6 net acres were relinquished in Angola.
Oil & Gas metrics
| Commodity | Production (rating) | Reserves & Resources (rating) | Estimated Lifetime |
|---|---|---|---|
|
-
|
-
|
-
|
-
|
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
-
-
-
-
Oil & Gas metrics — Assumptions & Disclaimers
Assumptions
- Petroleum reserves are reported under SPE-PRMS, NI 51-101, COGEH or SEC S-K 1200. The headline figure is 2P (Proved + Probable) when disclosed, falling back to 1P (Proved) for SEC-only filers; 3P is shown for transparency only.
- Pricing case. PRMS / NI 51-101 reserves are typically dual-reported under 'Forecast Prices & Costs' and 'Constant / SEC Prices & Costs'. Both cases are shown when disclosed; do not add them together.
- Development status. Petroleum reserves carry an orthogonal developed / undeveloped axis (PDP, PDNP, PUD). Where the source splits the reserve into these buckets we preserve the split.
- Reserves walk tables (if present) disaggregate the change in reserves into Opening balance, Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production, Conversion to developed and Closing balance, following NI 51-101 / SEC S-K 1200 reconciliation requirements.
- Contingent (1C/2C/3C) and Prospective (1U/2U/3U) resources are shown for transparency but do not feed the headline 2P metric and do not contribute to the USD value mix.
- BOE / Mcfe conversion uses a 6:1 thermal ratio unless the source declares otherwise. Thermal convenience only — not economic equivalence.
Disclaimer
- Oil and gas estimates are inherently uncertain. Even Proved (1P) reserves carry an SEC-defined 'reasonable certainty' standard, which is not the same as a guarantee of recovery. Booked reserves are highly sensitive to assumed prices; price-deck changes can move 2P balances by material amounts year-on-year. Contingent and Prospective volumes carry substantial discovery, appraisal, commercial and development risk.
Nigeria Deepwater Blocks
District
Nigeria, Offshore Nigeria
Oil Gas
Type
Operating
Status
🇳🇬 Nigeria, Offshore Nigeria
Country
Project information
As at 31 December 2025
Aggregation level:
District / complex
Aggregation level:
District / complex
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Offshore
Extraction:
Offshore
Description
As at 31 December 2025
Three producing deepwater blocks offshore Nigeria in which operations continued during 2025.
Oil & Gas metrics
| Commodity | Production (rating) | Reserves & Resources (rating) | Estimated Lifetime |
|---|---|---|---|
|
-
|
-
|
-
|
-
|
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
-
-
-
-
Oil & Gas metrics — Assumptions & Disclaimers
Assumptions
- Petroleum reserves are reported under SPE-PRMS, NI 51-101, COGEH or SEC S-K 1200. The headline figure is 2P (Proved + Probable) when disclosed, falling back to 1P (Proved) for SEC-only filers; 3P is shown for transparency only.
- Pricing case. PRMS / NI 51-101 reserves are typically dual-reported under 'Forecast Prices & Costs' and 'Constant / SEC Prices & Costs'. Both cases are shown when disclosed; do not add them together.
- Development status. Petroleum reserves carry an orthogonal developed / undeveloped axis (PDP, PDNP, PUD). Where the source splits the reserve into these buckets we preserve the split.
- Reserves walk tables (if present) disaggregate the change in reserves into Opening balance, Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production, Conversion to developed and Closing balance, following NI 51-101 / SEC S-K 1200 reconciliation requirements.
- Contingent (1C/2C/3C) and Prospective (1U/2U/3U) resources are shown for transparency but do not feed the headline 2P metric and do not contribute to the USD value mix.
- BOE / Mcfe conversion uses a 6:1 thermal ratio unless the source declares otherwise. Thermal convenience only — not economic equivalence.
Disclaimer
- Oil and gas estimates are inherently uncertain. Even Proved (1P) reserves carry an SEC-defined 'reasonable certainty' standard, which is not the same as a guarantee of recovery. Booked reserves are highly sensitive to assumed prices; price-deck changes can move 2P balances by material amounts year-on-year. Contingent and Prospective volumes carry substantial discovery, appraisal, commercial and development risk.
Permian Basin
District · Operating
United States, Texas and New Mexico, Permian Basin
Oil equivalent (BOE)
Oil Gas
Type
Operating
Status
🇺🇸 United States, Texas and New Mexico (Permian Basin)
Country
Project information
As at 31 December 2025
Aggregation level:
District / complex
Aggregation level:
District / complex
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Unconventional Shale
Extraction:
Unconventional Shale
Description
As at 31 December 2025
Liquids-rich unconventional development across the Delaware and Midland sub-basins of West Texas and New Mexico — ExxonMobil's primary onshore U.S. growth asset, expanded by the May 2024 Pioneer Natural Resources acquisition. Record total production of 1.6 Moebd in 2025, ~0.4 Moebd above 2024. Development applies ExxonMobil cube design, proprietary lightweight proppant, and leading drilling/completion technology for industry-leading capital efficiency. Production expected to reach ~2.5 Moebd by 2030. On track for net-zero Scope 1+2 GHG emissions in integrated Permian operated assets by 2035.
Oil & Gas metrics
As at 31 December 2025
| Commodity | Production (rating) | Reserves & Resources (rating) | Estimated Lifetime |
|---|---|---|---|
|
Oil equivalent (BOE)
|
584 mmboe/yr
5/5
|
-
|
-
|
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
Oil equivalent (BOE)
584 mmboe/yr
5/5
-
-
Oil & Gas metrics — Assumptions & Disclaimers
Assumptions
- Petroleum reserves are reported under SPE-PRMS, NI 51-101, COGEH or SEC S-K 1200. The headline figure is 2P (Proved + Probable) when disclosed, falling back to 1P (Proved) for SEC-only filers; 3P is shown for transparency only.
- Pricing case. PRMS / NI 51-101 reserves are typically dual-reported under 'Forecast Prices & Costs' and 'Constant / SEC Prices & Costs'. Both cases are shown when disclosed; do not add them together.
- Development status. Petroleum reserves carry an orthogonal developed / undeveloped axis (PDP, PDNP, PUD). Where the source splits the reserve into these buckets we preserve the split.
- Reserves walk tables (if present) disaggregate the change in reserves into Opening balance, Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production, Conversion to developed and Closing balance, following NI 51-101 / SEC S-K 1200 reconciliation requirements.
- Contingent (1C/2C/3C) and Prospective (1U/2U/3U) resources are shown for transparency but do not feed the headline 2P metric and do not contribute to the USD value mix.
- BOE / Mcfe conversion uses a 6:1 thermal ratio unless the source declares otherwise. Thermal convenience only — not economic equivalence.
Disclaimer
- Oil and gas estimates are inherently uncertain. Even Proved (1P) reserves carry an SEC-defined 'reasonable certainty' standard, which is not the same as a guarantee of recovery. Booked reserves are highly sensitive to assumed prices; price-deck changes can move 2P balances by material amounts year-on-year. Contingent and Prospective volumes carry substantial discovery, appraisal, commercial and development risk.
Stabroek Block
District · Operating
Guyana, Offshore Guyana
Oil
Oil Gas
Type
Operating
Status
🇬🇾 Guyana, Offshore Guyana
Country
Project information
As at 31 December 2025
Aggregation level:
District / complex
Aggregation level:
District / complex
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Offshore
Extraction:
Offshore
Description
As at 31 December 2025
Deepwater development offshore Guyana. Four FPSOs in operation at YE2025 — Liza Destiny, Liza Unity, Prosperity, and ONE GUYANA (Yellowtail), which entered service in August 2025; combined gross production exceeded 870 kbd in Q4 2025 and Guyana achieved record annual production of 715 kbd. Uaru and Whiptail (fifth and sixth developments, ~250 kbd investment-basis capacity each) progressing on schedule; Hammerhead reached FID in September 2025 with start-up anticipated 2029. Eight FPSOs anticipated by year-end 2030. Guyana petroleum agreements provide 20-year production periods for oil fields (renewable up to 10 years).
Oil & Gas metrics
As at 31 December 2025
| Commodity | Production (rating) | Reserves & Resources (rating) | Estimated Lifetime |
|---|---|---|---|
|
Oil
|
260.98 mmboe/yr
5/5
|
-
|
-
|
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
Oil
260.98 mmboe/yr
5/5
-
-
Oil & Gas metrics — Assumptions & Disclaimers
Assumptions
- Petroleum reserves are reported under SPE-PRMS, NI 51-101, COGEH or SEC S-K 1200. The headline figure is 2P (Proved + Probable) when disclosed, falling back to 1P (Proved) for SEC-only filers; 3P is shown for transparency only.
- Pricing case. PRMS / NI 51-101 reserves are typically dual-reported under 'Forecast Prices & Costs' and 'Constant / SEC Prices & Costs'. Both cases are shown when disclosed; do not add them together.
- Development status. Petroleum reserves carry an orthogonal developed / undeveloped axis (PDP, PDNP, PUD). Where the source splits the reserve into these buckets we preserve the split.
- Reserves walk tables (if present) disaggregate the change in reserves into Opening balance, Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production, Conversion to developed and Closing balance, following NI 51-101 / SEC S-K 1200 reconciliation requirements.
- Contingent (1C/2C/3C) and Prospective (1U/2U/3U) resources are shown for transparency but do not feed the headline 2P metric and do not contribute to the USD value mix.
- BOE / Mcfe conversion uses a 6:1 thermal ratio unless the source declares otherwise. Thermal convenience only — not economic equivalence.
Disclaimer
- Oil and gas estimates are inherently uncertain. Even Proved (1P) reserves carry an SEC-defined 'reasonable certainty' standard, which is not the same as a guarantee of recovery. Booked reserves are highly sensitive to assumed prices; price-deck changes can move 2P balances by material amounts year-on-year. Contingent and Prospective volumes carry substantial discovery, appraisal, commercial and development risk.
United States Upstream
Segment
United States
Oil
5/5
Natural gas
5/5
Oil Gas
Type
Operating
Status
🇺🇸 United States
Country
Project information
As at 31 December 2025
Aggregation level:
Reporting segment
Aggregation level:
Reporting segment
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Unconventional Shale
Extraction:
Unconventional Shale
Producing wells (net):
17593
Producing wells (net):
17593
Description
As at 31 December 2025
Consolidated U.S. upstream operations — onshore and offshore lower 48 (led by the Permian Basin of West Texas and New Mexico) and Alaska. 2025 development focused on liquids-rich onshore opportunities, bringing total U.S. net production to 2.1 million oil-equivalent barrels per day. Includes producing assets from the May 2024 Pioneer Natural Resources acquisition. Equity-company interests (YE2025 proved developed: 5 mmbbl crude, 3 mmbbl NGL, 48 bcf gas) are excluded from this consolidated row.
Oil & Gas metrics
Multiple effective dates · 1P
| Commodity | Production (rating) | Reserves & Resources (rating) | Estimated Lifetime |
|---|---|---|---|
|
Oil
|
366.82 mmboe/yr
5/5
|
3 110 mmboe 1P
5/5
|
reserves 8.5 yrs
|
|
Natural gas
|
203.55 mmboe/yr
5/5
|
2 797.83 mmboe 1P
5/5
|
reserves 13.7 yrs
|
|
NGL
|
187.61 mmboe/yr
5/5
|
2 063 mmboe 1P
5/5
|
reserves 11 yrs
|
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
Oil
366.82 mmboe/yr
5/5
3 110 mmboe 1P
5/5
reserves 8.5 yrs
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
Natural gas
203.55 mmboe/yr
5/5
2 797.83 mmboe 1P
5/5
reserves 13.7 yrs
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
NGL
187.61 mmboe/yr
5/5
2 063 mmboe 1P
5/5
reserves 11 yrs
Oil & Gas metrics — Assumptions & Disclaimers
Assumptions
- Petroleum reserves are reported under SPE-PRMS, NI 51-101, COGEH or SEC S-K 1200. The headline figure is 2P (Proved + Probable) when disclosed, falling back to 1P (Proved) for SEC-only filers; 3P is shown for transparency only.
- Pricing case. PRMS / NI 51-101 reserves are typically dual-reported under 'Forecast Prices & Costs' and 'Constant / SEC Prices & Costs'. Both cases are shown when disclosed; do not add them together.
- Development status. Petroleum reserves carry an orthogonal developed / undeveloped axis (PDP, PDNP, PUD). Where the source splits the reserve into these buckets we preserve the split.
- Reserves walk tables (if present) disaggregate the change in reserves into Opening balance, Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production, Conversion to developed and Closing balance, following NI 51-101 / SEC S-K 1200 reconciliation requirements.
- Contingent (1C/2C/3C) and Prospective (1U/2U/3U) resources are shown for transparency but do not feed the headline 2P metric and do not contribute to the USD value mix.
- BOE / Mcfe conversion uses a 6:1 thermal ratio unless the source declares otherwise. Thermal convenience only — not economic equivalence.
Disclaimer
- Oil and gas estimates are inherently uncertain. Even Proved (1P) reserves carry an SEC-defined 'reasonable certainty' standard, which is not the same as a guarantee of recovery. Booked reserves are highly sensitive to assumed prices; price-deck changes can move 2P balances by material amounts year-on-year. Contingent and Prospective volumes carry substantial discovery, appraisal, commercial and development risk.
Oil & Gas inventory & footprint
Multiple effective dates
| Land (net acres) | Wellbore stock (net wells) | Drilling runway (net locations) | Breakeven & type curve | Drilling activity (latest FY) | Active stock (latest) |
|---|---|---|---|---|---|
|
7.17M net acres · 71% developed
5.08M developed · 2.09M undeveloped
|
17.6k net producing
|
-
|
-
|
698 drilled
FY 2025
|
492 WIP
|
Land (net acres)
Wellbore stock (net wells)
Drilling runway (net locations)
Breakeven & type curve
Drilling activity (latest FY)
Active stock (latest)
7.17M net acres · 71% developed
5.08M developed · 2.09M undeveloped
17.6k net producing
-
-
698 drilled
FY 2025
492 WIP
Oil & Gas inventory & footprint — Assumptions & Disclaimers
Assumptions
- Grain. One row per asset (not per commodity). Per-commodity reserves and production stay on the Oil & Gas table immediately above; this section answers the orthogonal question of land, wellbore stock, drilling runway and recent activity.
- Rail. All counts and acreages are NET (working-interest share) — the investor's actual exposure, not the operator's gross filing. Where a source only publishes gross figures, the cell falls back to '–'.
- Acres. Developed + undeveloped net acres at the latest effective_date; total net acres and the developed share (% of total) are on the first line, with developed and undeveloped magnitudes on the second line.
- Wellbore stock. Latest producing_wells_net is the headline; non_producing_wells_net (shut-in, suspended, behind-pipe) is added as '+ N non-producing' when the filer separates them.
- Drilling runway. 'Net locations' is management's headline identified-inventory count at the disclosed breakeven. 'Booked PUD' is the subset already booked as Proved Undeveloped reserves on the Oil & Gas table above; the remainder is the 'shadow inventory' — economic at the stated breakeven but excluded from booked reserves by the SEC five-year PUD rule, trailing-12-month pricing or the reasonable-certainty standard.
- Breakeven & type curve. Breakeven price defaults to USD per bbl WTI; non-WTI / non-USD benchmarks are echoed inline. EUR per well is taken as published; do not sum across assets with different unit families (mboe / mmboe / mbbl / mmbbl / bcf / tcf).
- Activity. Flow rows (wells drilled, wells completed) use the latest period_year on the latest period_type. Stock rows (DUC count, rigs running, completion crews, wells in progress) use the latest effective_date. A blank cell means the company did not disclose that activity_kind.
Disclaimer
- Footprint and runway are stocks at a point in time and may straddle the reserves effective date by up to a quarter. Net economic locations are a management estimate at a stated breakeven price — re-pricing the deck or changing the benchmark can move the number materially without any underlying reserves change. Shadow inventory should be read as 'optionality the operator believes economic', not 'reserves'. DUC and rigs-running counts at one effective_date are leading indicators of near-term production but are not commitments. Carried interests, area-of-mutual-interest agreements and joint-venture mechanics can cause the disclosed net figure to drift from a naive net = gross × working-interest calculation. EUR per well is blended across formations unless the source split it; cross-operator comparison is indicative only.
Reserves & resources — detail
As at 31 December 2025
Reserves & resources — detail — Assumptions & Disclaimers
Assumptions
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
Disclaimer
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Reserves walk · Gross (disclosed)
| Project | Commodity | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Category / dev_status | Reporting basis | Pricing case | Opening | + Ext. & disc. | + Revisions | + Improved rec. | + Purchases | Combined added | − Divestitures | − Production | Combined used | ± Conv. to developed | Net change | Closing | Balance check | ||
|
2023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States Upstream (Segment)
|
Oil
|
1P
|
Net
|
Sec
|
2 204 mmboe
|
355 mmboe
|
−398 mmboe
|
0
|
156 mmboe
|
113 mmboe
|
−12 mmboe
|
−203 mmboe
|
−215 mmboe
|
0
|
328 mmboe
|
2 102 mmboe
|
✓
|
|
United States Upstream (Segment)
|
Natural gas
|
1P
|
Net
|
Sec
|
2 274.17 mmboe
|
321.67 mmboe
|
−324.17 mmboe
|
0
|
1.17 mmboe
|
−1.33 mmboe
|
−69.5 mmboe
|
−159.5 mmboe
|
−229 mmboe
|
0
|
227.67 mmboe
|
2 043.83 mmboe
|
✓
|
|
2024
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States Upstream (Segment)
|
Oil
|
1P
|
Net
|
Sec
|
2 102 mmboe
|
804 mmboe
|
−176 mmboe
|
0
|
877 mmboe
|
1 505 mmboe
|
−18 mmboe
|
−316 mmboe
|
−334 mmboe
|
0
|
1 839 mmboe
|
3 273 mmboe
|
✓
|
|
United States Upstream (Segment)
|
Natural gas
|
1P
|
Net
|
Sec
|
2 043.83 mmboe
|
447.17 mmboe
|
−151.83 mmboe
|
0
|
674 mmboe
|
969.33 mmboe
|
−13.83 mmboe
|
−192.17 mmboe
|
−206 mmboe
|
0
|
1 175.33 mmboe
|
2 807.17 mmboe
|
✓
|
|
2025
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States Upstream (Segment)
|
Oil
|
1P
|
Net
|
Sec
|
3 273 mmboe
|
890 mmboe
|
−652 mmboe
|
0
|
38 mmboe
|
276 mmboe
|
−72 mmboe
|
−367 mmboe
|
−439 mmboe
|
0
|
715 mmboe
|
3 110 mmboe
|
✓
|
|
United States Upstream (Segment)
|
Natural gas
|
1P
|
Net
|
Sec
|
2 807.17 mmboe
|
461.5 mmboe
|
−247 mmboe
|
0
|
39 mmboe
|
253.5 mmboe
|
−41.33 mmboe
|
−221.5 mmboe
|
−262.83 mmboe
|
0
|
516.33 mmboe
|
2 797.83 mmboe
|
✓
|
2023
Category / dev_status
Reporting basis
Pricing case
Opening
+ Ext. & disc.
+ Revisions
+ Improved rec.
+ Purchases
Combined added
− Divestitures
− Production
Combined used
± Conv. to developed
Net change
Closing
Balance check
United States Upstream (Segment)
Oil
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
2 204 mmboe
+ Ext. & disc.
355 mmboe
+ Revisions
−398 mmboe
+ Improved rec.
0
+ Purchases
156 mmboe
Combined added
113 mmboe
− Divestitures
−12 mmboe
− Production
−203 mmboe
Combined used
−215 mmboe
± Conv. to developed
0
Net change
328 mmboe
Closing
2 102 mmboe
Balance check
✓
United States Upstream (Segment)
Natural gas
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
2 274.17 mmboe
+ Ext. & disc.
321.67 mmboe
+ Revisions
−324.17 mmboe
+ Improved rec.
0
+ Purchases
1.17 mmboe
Combined added
−1.33 mmboe
− Divestitures
−69.5 mmboe
− Production
−159.5 mmboe
Combined used
−229 mmboe
± Conv. to developed
0
Net change
227.67 mmboe
Closing
2 043.83 mmboe
Balance check
✓
2024
Category / dev_status
Reporting basis
Pricing case
Opening
+ Ext. & disc.
+ Revisions
+ Improved rec.
+ Purchases
Combined added
− Divestitures
− Production
Combined used
± Conv. to developed
Net change
Closing
Balance check
United States Upstream (Segment)
Oil
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
2 102 mmboe
+ Ext. & disc.
804 mmboe
+ Revisions
−176 mmboe
+ Improved rec.
0
+ Purchases
877 mmboe
Combined added
1 505 mmboe
− Divestitures
−18 mmboe
− Production
−316 mmboe
Combined used
−334 mmboe
± Conv. to developed
0
Net change
1 839 mmboe
Closing
3 273 mmboe
Balance check
✓
United States Upstream (Segment)
Natural gas
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
2 043.83 mmboe
+ Ext. & disc.
447.17 mmboe
+ Revisions
−151.83 mmboe
+ Improved rec.
0
+ Purchases
674 mmboe
Combined added
969.33 mmboe
− Divestitures
−13.83 mmboe
− Production
−192.17 mmboe
Combined used
−206 mmboe
± Conv. to developed
0
Net change
1 175.33 mmboe
Closing
2 807.17 mmboe
Balance check
✓
2025
Category / dev_status
Reporting basis
Pricing case
Opening
+ Ext. & disc.
+ Revisions
+ Improved rec.
+ Purchases
Combined added
− Divestitures
− Production
Combined used
± Conv. to developed
Net change
Closing
Balance check
United States Upstream (Segment)
Oil
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
3 273 mmboe
+ Ext. & disc.
890 mmboe
+ Revisions
−652 mmboe
+ Improved rec.
0
+ Purchases
38 mmboe
Combined added
276 mmboe
− Divestitures
−72 mmboe
− Production
−367 mmboe
Combined used
−439 mmboe
± Conv. to developed
0
Net change
715 mmboe
Closing
3 110 mmboe
Balance check
✓
United States Upstream (Segment)
Natural gas
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
2 807.17 mmboe
+ Ext. & disc.
461.5 mmboe
+ Revisions
−247 mmboe
+ Improved rec.
0
+ Purchases
39 mmboe
Combined added
253.5 mmboe
− Divestitures
−41.33 mmboe
− Production
−221.5 mmboe
Combined used
−262.83 mmboe
± Conv. to developed
0
Net change
516.33 mmboe
Closing
2 797.83 mmboe
Balance check
✓
Reserves walk · Gross (disclosed) — Assumptions & Disclaimers
Assumptions
- Per METALPILOT model invariants: closing = opening + Σ deltas. Rows are rendered as disclosed (gross reporting basis), grouped by period year. Signs follow the source. Combined added rolls up the four additive lines; Combined used rolls up divestitures and production. Net change is combined added minus combined used.
Disclaimer
- Mining / R&R walks are not modelled here. Royalty / stream walks reflect the operator's underlying movement on the gross asset, not cash to the holder. Balance check: ✓ when closing balances within 1% of opening + Σ deltas; otherwise the variance is shown as 'Δ <value> <unit>'.
Reserves walk · Net change by year
| Year | ||
|---|---|---|
| Oil · 1P · Net change (Δ %) | Natural gas · 1P · Net change (Δ %) | |
|
2023
|
328 mmboe (+15%)
|
227.67 mmboe (+10%)
|
|
2024
|
1 839 mmboe (+87%)
|
1 175.33 mmboe (+58%)
|
|
2025
|
715 mmboe (+22%)
|
516.33 mmboe (+18%)
|
2023
Oil · 1P · Net change (Δ %)
328 mmboe (+15%)
Natural gas · 1P · Net change (Δ %)
227.67 mmboe (+10%)
2024
Oil · 1P · Net change (Δ %)
1 839 mmboe (+87%)
Natural gas · 1P · Net change (Δ %)
1 175.33 mmboe (+58%)
2025
Oil · 1P · Net change (Δ %)
715 mmboe (+22%)
Natural gas · 1P · Net change (Δ %)
516.33 mmboe (+18%)
Reserves walk · Net change by year — Assumptions & Disclaimers
Assumptions
- One row per period year. Columns are attributable net change (combined added − combined used) per commodity × category slice, with Δ% vs opening balance in brackets.
Disclaimer
- Closing balances appear in the gross walk table above. Percentages use opening balance as the denominator.
Australia/Oceania Upstream
Segment
Global
Natural gas
4/5
Oil
3/5
Oil Gas
Type
Operating
Status
🌍 Global
Country
Project information
As at 31 December 2025
Aggregation level:
Reporting segment
Aggregation level:
Reporting segment
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Offshore
Extraction:
Offshore
Producing wells (net):
46
Producing wells (net):
46
Description
As at 31 December 2025
Consolidated Australia/Oceania upstream operations — Gorgon-Jansz LNG (Jansz-Io Compression progressing; Gorgon Stage 3 fully funded in 2025), Bass Strait and PNG. Australia and Papua New Guinea account for 22.5 Mt/yr of LNG capacity. Material proved undeveloped gas (2,653 bcf) is associated with future compression for the Gorgon-Jansz LNG project (undeveloped >5 years due to infrastructure capacity constraints).
Oil & Gas metrics
Multiple effective dates · 1P
| Commodity | Production (rating) | Reserves & Resources (rating) | Estimated Lifetime |
|---|---|---|---|
|
Natural gas
|
78.05 mmboe/yr
5/5
|
951.67 mmboe 1P
4/5
|
reserves 12.2 yrs
|
|
Oil
|
6.57 mmboe/yr
3/5
|
60 mmboe 1P
3/5
|
reserves 9.1 yrs
|
|
NGL
|
2.56 mmboe/yr
4/5
|
8 mmboe 1P
2/5
|
reserves 3.1 yrs
|
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
Natural gas
78.05 mmboe/yr
5/5
951.67 mmboe 1P
4/5
reserves 12.2 yrs
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
Oil
6.57 mmboe/yr
3/5
60 mmboe 1P
3/5
reserves 9.1 yrs
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
NGL
2.56 mmboe/yr
4/5
8 mmboe 1P
2/5
reserves 3.1 yrs
Oil & Gas metrics — Assumptions & Disclaimers
Assumptions
- Petroleum reserves are reported under SPE-PRMS, NI 51-101, COGEH or SEC S-K 1200. The headline figure is 2P (Proved + Probable) when disclosed, falling back to 1P (Proved) for SEC-only filers; 3P is shown for transparency only.
- Pricing case. PRMS / NI 51-101 reserves are typically dual-reported under 'Forecast Prices & Costs' and 'Constant / SEC Prices & Costs'. Both cases are shown when disclosed; do not add them together.
- Development status. Petroleum reserves carry an orthogonal developed / undeveloped axis (PDP, PDNP, PUD). Where the source splits the reserve into these buckets we preserve the split.
- Reserves walk tables (if present) disaggregate the change in reserves into Opening balance, Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production, Conversion to developed and Closing balance, following NI 51-101 / SEC S-K 1200 reconciliation requirements.
- Contingent (1C/2C/3C) and Prospective (1U/2U/3U) resources are shown for transparency but do not feed the headline 2P metric and do not contribute to the USD value mix.
- BOE / Mcfe conversion uses a 6:1 thermal ratio unless the source declares otherwise. Thermal convenience only — not economic equivalence.
Disclaimer
- Oil and gas estimates are inherently uncertain. Even Proved (1P) reserves carry an SEC-defined 'reasonable certainty' standard, which is not the same as a guarantee of recovery. Booked reserves are highly sensitive to assumed prices; price-deck changes can move 2P balances by material amounts year-on-year. Contingent and Prospective volumes carry substantial discovery, appraisal, commercial and development risk.
Oil & Gas inventory & footprint
Multiple effective dates
| Land (net acres) | Wellbore stock (net wells) | Drilling runway (net locations) | Breakeven & type curve | Drilling activity (latest FY) | Active stock (latest) |
|---|---|---|---|---|---|
|
2.70M net acres · 39% developed
1.04M developed · 1.66M undeveloped
|
46 net producing
|
-
|
-
|
1 drilled
FY 2025
|
1 WIP
|
Land (net acres)
Wellbore stock (net wells)
Drilling runway (net locations)
Breakeven & type curve
Drilling activity (latest FY)
Active stock (latest)
2.70M net acres · 39% developed
1.04M developed · 1.66M undeveloped
46 net producing
-
-
1 drilled
FY 2025
1 WIP
Oil & Gas inventory & footprint — Assumptions & Disclaimers
Assumptions
- Grain. One row per asset (not per commodity). Per-commodity reserves and production stay on the Oil & Gas table immediately above; this section answers the orthogonal question of land, wellbore stock, drilling runway and recent activity.
- Rail. All counts and acreages are NET (working-interest share) — the investor's actual exposure, not the operator's gross filing. Where a source only publishes gross figures, the cell falls back to '–'.
- Acres. Developed + undeveloped net acres at the latest effective_date; total net acres and the developed share (% of total) are on the first line, with developed and undeveloped magnitudes on the second line.
- Wellbore stock. Latest producing_wells_net is the headline; non_producing_wells_net (shut-in, suspended, behind-pipe) is added as '+ N non-producing' when the filer separates them.
- Drilling runway. 'Net locations' is management's headline identified-inventory count at the disclosed breakeven. 'Booked PUD' is the subset already booked as Proved Undeveloped reserves on the Oil & Gas table above; the remainder is the 'shadow inventory' — economic at the stated breakeven but excluded from booked reserves by the SEC five-year PUD rule, trailing-12-month pricing or the reasonable-certainty standard.
- Breakeven & type curve. Breakeven price defaults to USD per bbl WTI; non-WTI / non-USD benchmarks are echoed inline. EUR per well is taken as published; do not sum across assets with different unit families (mboe / mmboe / mbbl / mmbbl / bcf / tcf).
- Activity. Flow rows (wells drilled, wells completed) use the latest period_year on the latest period_type. Stock rows (DUC count, rigs running, completion crews, wells in progress) use the latest effective_date. A blank cell means the company did not disclose that activity_kind.
Disclaimer
- Footprint and runway are stocks at a point in time and may straddle the reserves effective date by up to a quarter. Net economic locations are a management estimate at a stated breakeven price — re-pricing the deck or changing the benchmark can move the number materially without any underlying reserves change. Shadow inventory should be read as 'optionality the operator believes economic', not 'reserves'. DUC and rigs-running counts at one effective_date are leading indicators of near-term production but are not commitments. Carried interests, area-of-mutual-interest agreements and joint-venture mechanics can cause the disclosed net figure to drift from a naive net = gross × working-interest calculation. EUR per well is blended across formations unless the source split it; cross-operator comparison is indicative only.
Reserves & resources — detail
As at 31 December 2025
Reserves & resources — detail — Assumptions & Disclaimers
Assumptions
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
Disclaimer
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Reserves walk · Gross (disclosed)
| Project | Commodity | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Category / dev_status | Reporting basis | Pricing case | Opening | + Ext. & disc. | + Revisions | + Improved rec. | + Purchases | Combined added | − Divestitures | − Production | Combined used | ± Conv. to developed | Net change | Closing | Balance check | ||
|
2023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Australia/Oceania Upstream (Segment)
|
Natural gas
|
1P
|
Net
|
Sec
|
1 001.33 mmboe
|
0
|
56.5 mmboe
|
0
|
0
|
56.5 mmboe
|
0
|
−81.5 mmboe
|
−81.5 mmboe
|
0
|
138 mmboe
|
976.33 mmboe
|
✓
|
|
Australia/Oceania Upstream (Segment)
|
Oil
|
1P
|
Net
|
Sec
|
66 mmboe
|
0
|
3 mmboe
|
0
|
0
|
3 mmboe
|
0
|
−8 mmboe
|
−8 mmboe
|
0
|
11 mmboe
|
61 mmboe
|
✓
|
|
2024
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Australia/Oceania Upstream (Segment)
|
Natural gas
|
1P
|
Net
|
Sec
|
976.33 mmboe
|
0.17 mmboe
|
16.17 mmboe
|
0
|
0
|
16.33 mmboe
|
0
|
−79.5 mmboe
|
−79.5 mmboe
|
0
|
95.83 mmboe
|
913.17 mmboe
|
✓
|
|
Australia/Oceania Upstream (Segment)
|
Oil
|
1P
|
Net
|
Sec
|
61 mmboe
|
0
|
1 mmboe
|
0
|
0
|
1 mmboe
|
0
|
−7 mmboe
|
−7 mmboe
|
0
|
8 mmboe
|
55 mmboe
|
✓
|
|
2025
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Australia/Oceania Upstream (Segment)
|
Natural gas
|
1P
|
Net
|
Sec
|
913.17 mmboe
|
80.83 mmboe
|
38 mmboe
|
0
|
0
|
118.83 mmboe
|
0
|
−80.33 mmboe
|
−80.33 mmboe
|
0
|
199.17 mmboe
|
951.67 mmboe
|
✓
|
|
Australia/Oceania Upstream (Segment)
|
Oil
|
1P
|
Net
|
Sec
|
55 mmboe
|
6 mmboe
|
6 mmboe
|
0
|
0
|
12 mmboe
|
0
|
−7 mmboe
|
−7 mmboe
|
0
|
19 mmboe
|
60 mmboe
|
✓
|
2023
Category / dev_status
Reporting basis
Pricing case
Opening
+ Ext. & disc.
+ Revisions
+ Improved rec.
+ Purchases
Combined added
− Divestitures
− Production
Combined used
± Conv. to developed
Net change
Closing
Balance check
Australia/Oceania Upstream (Segment)
Natural gas
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
1 001.33 mmboe
+ Ext. & disc.
0
+ Revisions
56.5 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
56.5 mmboe
− Divestitures
0
− Production
−81.5 mmboe
Combined used
−81.5 mmboe
± Conv. to developed
0
Net change
138 mmboe
Closing
976.33 mmboe
Balance check
✓
Australia/Oceania Upstream (Segment)
Oil
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
66 mmboe
+ Ext. & disc.
0
+ Revisions
3 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
3 mmboe
− Divestitures
0
− Production
−8 mmboe
Combined used
−8 mmboe
± Conv. to developed
0
Net change
11 mmboe
Closing
61 mmboe
Balance check
✓
2024
Category / dev_status
Reporting basis
Pricing case
Opening
+ Ext. & disc.
+ Revisions
+ Improved rec.
+ Purchases
Combined added
− Divestitures
− Production
Combined used
± Conv. to developed
Net change
Closing
Balance check
Australia/Oceania Upstream (Segment)
Natural gas
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
976.33 mmboe
+ Ext. & disc.
0.17 mmboe
+ Revisions
16.17 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
16.33 mmboe
− Divestitures
0
− Production
−79.5 mmboe
Combined used
−79.5 mmboe
± Conv. to developed
0
Net change
95.83 mmboe
Closing
913.17 mmboe
Balance check
✓
Australia/Oceania Upstream (Segment)
Oil
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
61 mmboe
+ Ext. & disc.
0
+ Revisions
1 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
1 mmboe
− Divestitures
0
− Production
−7 mmboe
Combined used
−7 mmboe
± Conv. to developed
0
Net change
8 mmboe
Closing
55 mmboe
Balance check
✓
2025
Category / dev_status
Reporting basis
Pricing case
Opening
+ Ext. & disc.
+ Revisions
+ Improved rec.
+ Purchases
Combined added
− Divestitures
− Production
Combined used
± Conv. to developed
Net change
Closing
Balance check
Australia/Oceania Upstream (Segment)
Natural gas
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
913.17 mmboe
+ Ext. & disc.
80.83 mmboe
+ Revisions
38 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
118.83 mmboe
− Divestitures
0
− Production
−80.33 mmboe
Combined used
−80.33 mmboe
± Conv. to developed
0
Net change
199.17 mmboe
Closing
951.67 mmboe
Balance check
✓
Australia/Oceania Upstream (Segment)
Oil
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
55 mmboe
+ Ext. & disc.
6 mmboe
+ Revisions
6 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
12 mmboe
− Divestitures
0
− Production
−7 mmboe
Combined used
−7 mmboe
± Conv. to developed
0
Net change
19 mmboe
Closing
60 mmboe
Balance check
✓
Reserves walk · Gross (disclosed) — Assumptions & Disclaimers
Assumptions
- Per METALPILOT model invariants: closing = opening + Σ deltas. Rows are rendered as disclosed (gross reporting basis), grouped by period year. Signs follow the source. Combined added rolls up the four additive lines; Combined used rolls up divestitures and production. Net change is combined added minus combined used.
Disclaimer
- Mining / R&R walks are not modelled here. Royalty / stream walks reflect the operator's underlying movement on the gross asset, not cash to the holder. Balance check: ✓ when closing balances within 1% of opening + Σ deltas; otherwise the variance is shown as 'Δ <value> <unit>'.
Reserves walk · Net change by year
| Year | ||
|---|---|---|
| Natural gas · 1P · Net change (Δ %) | Oil · 1P · Net change (Δ %) | |
|
2023
|
138 mmboe (+14%)
|
11 mmboe (+17%)
|
|
2024
|
95.83 mmboe (+10%)
|
8 mmboe (+13%)
|
|
2025
|
199.17 mmboe (+22%)
|
19 mmboe (+35%)
|
2023
Natural gas · 1P · Net change (Δ %)
138 mmboe (+14%)
Oil · 1P · Net change (Δ %)
11 mmboe (+17%)
2024
Natural gas · 1P · Net change (Δ %)
95.83 mmboe (+10%)
Oil · 1P · Net change (Δ %)
8 mmboe (+13%)
2025
Natural gas · 1P · Net change (Δ %)
199.17 mmboe (+22%)
Oil · 1P · Net change (Δ %)
19 mmboe (+35%)
Reserves walk · Net change by year — Assumptions & Disclaimers
Assumptions
- One row per period year. Columns are attributable net change (combined added − combined used) per commodity × category slice, with Δ% vs opening balance in brackets.
Disclaimer
- Closing balances appear in the gross walk table above. Percentages use opening balance as the denominator.
Asia Upstream
Segment
Global
Oil
5/5
Natural gas
4/5
Oil Gas
Type
Operating
Status
🌍 Global
Country
Project information
As at 31 December 2025
Aggregation level:
Reporting segment
Aggregation level:
Reporting segment
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Conventional Oil Gas
Extraction:
Conventional Oil Gas
Producing wells (net):
327
Producing wells (net):
327
Description
As at 31 December 2025
Consolidated Asia upstream operations — UAE (Upper Zakum phased development), Qatar (45.7 Mtpa gross LNG capacity participation; North Field East and North Field Production Sustainment), Kazakhstan (Tengiz and Kashagan partnerships; Tengiz Expansion Project completed and ramped to nameplate in 2025), Iraq, Malaysia, Indonesia; exited Thailand in 2025. Equity companies (incl. TCO 25%, QatarEnergy LNG ventures, Barzan) hold large additional reserves: YE2025 proved developed 462 mmbbl crude, 134 mmbbl NGL, 4,782 bcf gas; undeveloped 163 mmbbl crude, 161 mmbbl NGL, 4,866 bcf gas.
Oil & Gas metrics
Multiple effective dates · 1P
| Commodity | Production (rating) | Reserves & Resources (rating) | Estimated Lifetime |
|---|---|---|---|
|
Oil
|
162.43 mmboe/yr
5/5
|
2 960 mmboe 1P
5/5
|
reserves 18.2 yrs
|
|
Natural gas
|
58.89 mmboe/yr
5/5
|
366.5 mmboe 1P
4/5
|
reserves 6.2 yrs
|
|
NGL
|
10.22 mmboe/yr
5/5
|
67 mmboe 1P
4/5
|
reserves 6.6 yrs
|
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
Oil
162.43 mmboe/yr
5/5
2 960 mmboe 1P
5/5
reserves 18.2 yrs
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
Natural gas
58.89 mmboe/yr
5/5
366.5 mmboe 1P
4/5
reserves 6.2 yrs
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
NGL
10.22 mmboe/yr
5/5
67 mmboe 1P
4/5
reserves 6.6 yrs
Oil & Gas metrics — Assumptions & Disclaimers
Assumptions
- Petroleum reserves are reported under SPE-PRMS, NI 51-101, COGEH or SEC S-K 1200. The headline figure is 2P (Proved + Probable) when disclosed, falling back to 1P (Proved) for SEC-only filers; 3P is shown for transparency only.
- Pricing case. PRMS / NI 51-101 reserves are typically dual-reported under 'Forecast Prices & Costs' and 'Constant / SEC Prices & Costs'. Both cases are shown when disclosed; do not add them together.
- Development status. Petroleum reserves carry an orthogonal developed / undeveloped axis (PDP, PDNP, PUD). Where the source splits the reserve into these buckets we preserve the split.
- Reserves walk tables (if present) disaggregate the change in reserves into Opening balance, Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production, Conversion to developed and Closing balance, following NI 51-101 / SEC S-K 1200 reconciliation requirements.
- Contingent (1C/2C/3C) and Prospective (1U/2U/3U) resources are shown for transparency but do not feed the headline 2P metric and do not contribute to the USD value mix.
- BOE / Mcfe conversion uses a 6:1 thermal ratio unless the source declares otherwise. Thermal convenience only — not economic equivalence.
Disclaimer
- Oil and gas estimates are inherently uncertain. Even Proved (1P) reserves carry an SEC-defined 'reasonable certainty' standard, which is not the same as a guarantee of recovery. Booked reserves are highly sensitive to assumed prices; price-deck changes can move 2P balances by material amounts year-on-year. Contingent and Prospective volumes carry substantial discovery, appraisal, commercial and development risk.
Oil & Gas inventory & footprint
Multiple effective dates
| Land (net acres) | Wellbore stock (net wells) | Drilling runway (net locations) | Breakeven & type curve | Drilling activity (latest FY) | Active stock (latest) |
|---|---|---|---|---|---|
|
637k net acres · 66% developed
422k developed · 215k undeveloped
|
327 net producing
|
-
|
-
|
5 drilled
FY 2025
|
2 WIP
|
Land (net acres)
Wellbore stock (net wells)
Drilling runway (net locations)
Breakeven & type curve
Drilling activity (latest FY)
Active stock (latest)
637k net acres · 66% developed
422k developed · 215k undeveloped
327 net producing
-
-
5 drilled
FY 2025
2 WIP
Oil & Gas inventory & footprint — Assumptions & Disclaimers
Assumptions
- Grain. One row per asset (not per commodity). Per-commodity reserves and production stay on the Oil & Gas table immediately above; this section answers the orthogonal question of land, wellbore stock, drilling runway and recent activity.
- Rail. All counts and acreages are NET (working-interest share) — the investor's actual exposure, not the operator's gross filing. Where a source only publishes gross figures, the cell falls back to '–'.
- Acres. Developed + undeveloped net acres at the latest effective_date; total net acres and the developed share (% of total) are on the first line, with developed and undeveloped magnitudes on the second line.
- Wellbore stock. Latest producing_wells_net is the headline; non_producing_wells_net (shut-in, suspended, behind-pipe) is added as '+ N non-producing' when the filer separates them.
- Drilling runway. 'Net locations' is management's headline identified-inventory count at the disclosed breakeven. 'Booked PUD' is the subset already booked as Proved Undeveloped reserves on the Oil & Gas table above; the remainder is the 'shadow inventory' — economic at the stated breakeven but excluded from booked reserves by the SEC five-year PUD rule, trailing-12-month pricing or the reasonable-certainty standard.
- Breakeven & type curve. Breakeven price defaults to USD per bbl WTI; non-WTI / non-USD benchmarks are echoed inline. EUR per well is taken as published; do not sum across assets with different unit families (mboe / mmboe / mbbl / mmbbl / bcf / tcf).
- Activity. Flow rows (wells drilled, wells completed) use the latest period_year on the latest period_type. Stock rows (DUC count, rigs running, completion crews, wells in progress) use the latest effective_date. A blank cell means the company did not disclose that activity_kind.
Disclaimer
- Footprint and runway are stocks at a point in time and may straddle the reserves effective date by up to a quarter. Net economic locations are a management estimate at a stated breakeven price — re-pricing the deck or changing the benchmark can move the number materially without any underlying reserves change. Shadow inventory should be read as 'optionality the operator believes economic', not 'reserves'. DUC and rigs-running counts at one effective_date are leading indicators of near-term production but are not commitments. Carried interests, area-of-mutual-interest agreements and joint-venture mechanics can cause the disclosed net figure to drift from a naive net = gross × working-interest calculation. EUR per well is blended across formations unless the source split it; cross-operator comparison is indicative only.
Reserves & resources — detail
As at 31 December 2025
Reserves & resources — detail — Assumptions & Disclaimers
Assumptions
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
Disclaimer
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Reserves walk · Gross (disclosed)
| Project | Commodity | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Category / dev_status | Reporting basis | Pricing case | Opening | + Ext. & disc. | + Revisions | + Improved rec. | + Purchases | Combined added | − Divestitures | − Production | Combined used | ± Conv. to developed | Net change | Closing | Balance check | ||
|
2023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asia Upstream (Segment)
|
Oil
|
1P
|
Net
|
Sec
|
2 794 mmboe
|
0
|
30 mmboe
|
0
|
0
|
30 mmboe
|
−4 mmboe
|
−153 mmboe
|
−157 mmboe
|
0
|
187 mmboe
|
2 667 mmboe
|
✓
|
|
Asia Upstream (Segment)
|
Natural gas
|
1P
|
Net
|
Sec
|
510.17 mmboe
|
0
|
20.17 mmboe
|
0
|
0
|
20.17 mmboe
|
−1.5 mmboe
|
−63.17 mmboe
|
−64.67 mmboe
|
0
|
84.83 mmboe
|
465.67 mmboe
|
✓
|
|
2024
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asia Upstream (Segment)
|
Oil
|
1P
|
Net
|
Sec
|
2 667 mmboe
|
0
|
603 mmboe
|
0
|
0
|
603 mmboe
|
−7 mmboe
|
−154 mmboe
|
−161 mmboe
|
0
|
764 mmboe
|
3 109 mmboe
|
✓
|
|
Asia Upstream (Segment)
|
Natural gas
|
1P
|
Net
|
Sec
|
465.67 mmboe
|
0
|
20.67 mmboe
|
0
|
0
|
20.67 mmboe
|
−0.83 mmboe
|
−62.17 mmboe
|
−63 mmboe
|
0
|
83.67 mmboe
|
423.33 mmboe
|
✓
|
|
2025
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asia Upstream (Segment)
|
Oil
|
1P
|
Net
|
Sec
|
3 109 mmboe
|
0
|
13 mmboe
|
0
|
0
|
13 mmboe
|
0
|
−162 mmboe
|
−162 mmboe
|
0
|
175 mmboe
|
2 960 mmboe
|
✓
|
|
Asia Upstream (Segment)
|
Natural gas
|
1P
|
Net
|
Sec
|
423.33 mmboe
|
0
|
11.33 mmboe
|
0
|
0
|
11.33 mmboe
|
−2.33 mmboe
|
−65.83 mmboe
|
−68.17 mmboe
|
0
|
79.5 mmboe
|
366.5 mmboe
|
✓
|
2023
Category / dev_status
Reporting basis
Pricing case
Opening
+ Ext. & disc.
+ Revisions
+ Improved rec.
+ Purchases
Combined added
− Divestitures
− Production
Combined used
± Conv. to developed
Net change
Closing
Balance check
Asia Upstream (Segment)
Oil
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
2 794 mmboe
+ Ext. & disc.
0
+ Revisions
30 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
30 mmboe
− Divestitures
−4 mmboe
− Production
−153 mmboe
Combined used
−157 mmboe
± Conv. to developed
0
Net change
187 mmboe
Closing
2 667 mmboe
Balance check
✓
Asia Upstream (Segment)
Natural gas
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
510.17 mmboe
+ Ext. & disc.
0
+ Revisions
20.17 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
20.17 mmboe
− Divestitures
−1.5 mmboe
− Production
−63.17 mmboe
Combined used
−64.67 mmboe
± Conv. to developed
0
Net change
84.83 mmboe
Closing
465.67 mmboe
Balance check
✓
2024
Category / dev_status
Reporting basis
Pricing case
Opening
+ Ext. & disc.
+ Revisions
+ Improved rec.
+ Purchases
Combined added
− Divestitures
− Production
Combined used
± Conv. to developed
Net change
Closing
Balance check
Asia Upstream (Segment)
Oil
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
2 667 mmboe
+ Ext. & disc.
0
+ Revisions
603 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
603 mmboe
− Divestitures
−7 mmboe
− Production
−154 mmboe
Combined used
−161 mmboe
± Conv. to developed
0
Net change
764 mmboe
Closing
3 109 mmboe
Balance check
✓
Asia Upstream (Segment)
Natural gas
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
465.67 mmboe
+ Ext. & disc.
0
+ Revisions
20.67 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
20.67 mmboe
− Divestitures
−0.83 mmboe
− Production
−62.17 mmboe
Combined used
−63 mmboe
± Conv. to developed
0
Net change
83.67 mmboe
Closing
423.33 mmboe
Balance check
✓
2025
Category / dev_status
Reporting basis
Pricing case
Opening
+ Ext. & disc.
+ Revisions
+ Improved rec.
+ Purchases
Combined added
− Divestitures
− Production
Combined used
± Conv. to developed
Net change
Closing
Balance check
Asia Upstream (Segment)
Oil
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
3 109 mmboe
+ Ext. & disc.
0
+ Revisions
13 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
13 mmboe
− Divestitures
0
− Production
−162 mmboe
Combined used
−162 mmboe
± Conv. to developed
0
Net change
175 mmboe
Closing
2 960 mmboe
Balance check
✓
Asia Upstream (Segment)
Natural gas
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
423.33 mmboe
+ Ext. & disc.
0
+ Revisions
11.33 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
11.33 mmboe
− Divestitures
−2.33 mmboe
− Production
−65.83 mmboe
Combined used
−68.17 mmboe
± Conv. to developed
0
Net change
79.5 mmboe
Closing
366.5 mmboe
Balance check
✓
Reserves walk · Gross (disclosed) — Assumptions & Disclaimers
Assumptions
- Per METALPILOT model invariants: closing = opening + Σ deltas. Rows are rendered as disclosed (gross reporting basis), grouped by period year. Signs follow the source. Combined added rolls up the four additive lines; Combined used rolls up divestitures and production. Net change is combined added minus combined used.
Disclaimer
- Mining / R&R walks are not modelled here. Royalty / stream walks reflect the operator's underlying movement on the gross asset, not cash to the holder. Balance check: ✓ when closing balances within 1% of opening + Σ deltas; otherwise the variance is shown as 'Δ <value> <unit>'.
Reserves walk · Net change by year
| Year | ||
|---|---|---|
| Oil · 1P · Net change (Δ %) | Natural gas · 1P · Net change (Δ %) | |
|
2023
|
187 mmboe (+7%)
|
84.83 mmboe (+17%)
|
|
2024
|
764 mmboe (+29%)
|
83.67 mmboe (+18%)
|
|
2025
|
175 mmboe (+6%)
|
79.5 mmboe (+19%)
|
2023
Oil · 1P · Net change (Δ %)
187 mmboe (+7%)
Natural gas · 1P · Net change (Δ %)
84.83 mmboe (+17%)
2024
Oil · 1P · Net change (Δ %)
764 mmboe (+29%)
Natural gas · 1P · Net change (Δ %)
83.67 mmboe (+18%)
2025
Oil · 1P · Net change (Δ %)
175 mmboe (+6%)
Natural gas · 1P · Net change (Δ %)
79.5 mmboe (+19%)
Reserves walk · Net change by year — Assumptions & Disclaimers
Assumptions
- One row per period year. Columns are attributable net change (combined added − combined used) per commodity × category slice, with Δ% vs opening balance in brackets.
Disclaimer
- Closing balances appear in the gross walk table above. Percentages use opening balance as the denominator.
Canada/Other Americas Upstream
Segment
Global
Oil
5/5
Bitumen
5/5
Oil Gas
Type
Operating
Status
🌍 Global
Country
Project information
As at 31 December 2025
Aggregation level:
Reporting segment
Aggregation level:
Reporting segment
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Oil Sands Mining
Extraction:
Oil Sands Mining
Producing wells (net):
5050
Producing wells (net):
5050
Description
As at 31 December 2025
Consolidated Canada/Other Americas upstream operations — Canada onshore Alberta (Kearl and Syncrude oil sands mining, in-situ bitumen) and offshore Newfoundland and Labrador, plus Guyana (Stabroek block) and Brazil (Bacalhau start-up). Canada contributed 519 koebd net in 2025; Other Americas crude production was 320 kbd in 2025 (285 kbd 2024; 178 kbd 2023). Other Americas holds proved developed reserves of 486 mmbbl crude and 228 bcf gas, and proved undeveloped reserves of 587 mmbbl crude and 162 bcf gas at YE2025.
Oil & Gas metrics
Multiple effective dates · 1P
| Commodity | Production (rating) | Reserves & Resources (rating) | Estimated Lifetime |
|---|---|---|---|
|
Oil
|
139.06 mmboe/yr
5/5
|
1 195 mmboe 1P
5/5
|
reserves 8.6 yrs
|
|
Bitumen
|
140.53 mmboe/yr
5/5
|
2 330 mmboe 1P
5/5
|
reserves 16.6 yrs
|
|
Synthetic crude
|
24.82 mmboe/yr
4/5
|
288 mmboe 1P
4/5
|
reserves 11.6 yrs
|
|
Natural gas
|
1.64 mmboe/yr
2/5
|
87.83 mmboe 1P
3/5
|
reserves 25+ yrs
|
|
NGL
|
0.36 mmboe/yr
2/5
|
1 mmboe 1P
1/5
|
reserves 2.7 yrs
|
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
Oil
139.06 mmboe/yr
5/5
1 195 mmboe 1P
5/5
reserves 8.6 yrs
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
Bitumen
140.53 mmboe/yr
5/5
2 330 mmboe 1P
5/5
reserves 16.6 yrs
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
Synthetic crude
24.82 mmboe/yr
4/5
288 mmboe 1P
4/5
reserves 11.6 yrs
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
Natural gas
1.64 mmboe/yr
2/5
87.83 mmboe 1P
3/5
reserves 25+ yrs
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
NGL
0.36 mmboe/yr
2/5
1 mmboe 1P
1/5
reserves 2.7 yrs
Oil & Gas metrics — Assumptions & Disclaimers
Assumptions
- Petroleum reserves are reported under SPE-PRMS, NI 51-101, COGEH or SEC S-K 1200. The headline figure is 2P (Proved + Probable) when disclosed, falling back to 1P (Proved) for SEC-only filers; 3P is shown for transparency only.
- Pricing case. PRMS / NI 51-101 reserves are typically dual-reported under 'Forecast Prices & Costs' and 'Constant / SEC Prices & Costs'. Both cases are shown when disclosed; do not add them together.
- Development status. Petroleum reserves carry an orthogonal developed / undeveloped axis (PDP, PDNP, PUD). Where the source splits the reserve into these buckets we preserve the split.
- Reserves walk tables (if present) disaggregate the change in reserves into Opening balance, Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production, Conversion to developed and Closing balance, following NI 51-101 / SEC S-K 1200 reconciliation requirements.
- Contingent (1C/2C/3C) and Prospective (1U/2U/3U) resources are shown for transparency but do not feed the headline 2P metric and do not contribute to the USD value mix.
- BOE / Mcfe conversion uses a 6:1 thermal ratio unless the source declares otherwise. Thermal convenience only — not economic equivalence.
Disclaimer
- Oil and gas estimates are inherently uncertain. Even Proved (1P) reserves carry an SEC-defined 'reasonable certainty' standard, which is not the same as a guarantee of recovery. Booked reserves are highly sensitive to assumed prices; price-deck changes can move 2P balances by material amounts year-on-year. Contingent and Prospective volumes carry substantial discovery, appraisal, commercial and development risk.
Oil & Gas inventory & footprint
Multiple effective dates
| Land (net acres) | Wellbore stock (net wells) | Drilling runway (net locations) | Breakeven & type curve | Drilling activity (latest FY) | Active stock (latest) |
|---|---|---|---|---|---|
|
12.06M net acres · 11% developed
1.30M developed · 10.76M undeveloped
|
5 050 net producing
|
-
|
-
|
14 drilled
FY 2025
|
20 WIP
|
Land (net acres)
Wellbore stock (net wells)
Drilling runway (net locations)
Breakeven & type curve
Drilling activity (latest FY)
Active stock (latest)
12.06M net acres · 11% developed
1.30M developed · 10.76M undeveloped
5 050 net producing
-
-
14 drilled
FY 2025
20 WIP
Oil & Gas inventory & footprint — Assumptions & Disclaimers
Assumptions
- Grain. One row per asset (not per commodity). Per-commodity reserves and production stay on the Oil & Gas table immediately above; this section answers the orthogonal question of land, wellbore stock, drilling runway and recent activity.
- Rail. All counts and acreages are NET (working-interest share) — the investor's actual exposure, not the operator's gross filing. Where a source only publishes gross figures, the cell falls back to '–'.
- Acres. Developed + undeveloped net acres at the latest effective_date; total net acres and the developed share (% of total) are on the first line, with developed and undeveloped magnitudes on the second line.
- Wellbore stock. Latest producing_wells_net is the headline; non_producing_wells_net (shut-in, suspended, behind-pipe) is added as '+ N non-producing' when the filer separates them.
- Drilling runway. 'Net locations' is management's headline identified-inventory count at the disclosed breakeven. 'Booked PUD' is the subset already booked as Proved Undeveloped reserves on the Oil & Gas table above; the remainder is the 'shadow inventory' — economic at the stated breakeven but excluded from booked reserves by the SEC five-year PUD rule, trailing-12-month pricing or the reasonable-certainty standard.
- Breakeven & type curve. Breakeven price defaults to USD per bbl WTI; non-WTI / non-USD benchmarks are echoed inline. EUR per well is taken as published; do not sum across assets with different unit families (mboe / mmboe / mbbl / mmbbl / bcf / tcf).
- Activity. Flow rows (wells drilled, wells completed) use the latest period_year on the latest period_type. Stock rows (DUC count, rigs running, completion crews, wells in progress) use the latest effective_date. A blank cell means the company did not disclose that activity_kind.
Disclaimer
- Footprint and runway are stocks at a point in time and may straddle the reserves effective date by up to a quarter. Net economic locations are a management estimate at a stated breakeven price — re-pricing the deck or changing the benchmark can move the number materially without any underlying reserves change. Shadow inventory should be read as 'optionality the operator believes economic', not 'reserves'. DUC and rigs-running counts at one effective_date are leading indicators of near-term production but are not commitments. Carried interests, area-of-mutual-interest agreements and joint-venture mechanics can cause the disclosed net figure to drift from a naive net = gross × working-interest calculation. EUR per well is blended across formations unless the source split it; cross-operator comparison is indicative only.
Reserves & resources — detail
As at 31 December 2025
Reserves & resources — detail — Assumptions & Disclaimers
Assumptions
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
Disclaimer
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Reserves walk · Gross (disclosed)
| Project | Commodity | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Category / dev_status | Reporting basis | Pricing case | Opening | + Ext. & disc. | + Revisions | + Improved rec. | + Purchases | Combined added | − Divestitures | − Production | Combined used | ± Conv. to developed | Net change | Closing | Balance check | ||
|
2023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Canada/Other Americas Upstream (Segment)
|
Oil
|
1P
|
Net
|
Sec
|
945 mmboe
|
105 mmboe
|
32 mmboe
|
0
|
0
|
137 mmboe
|
0
|
−88 mmboe
|
−88 mmboe
|
0
|
225 mmboe
|
994 mmboe
|
✓
|
|
Canada/Other Americas Upstream (Segment)
|
Bitumen
|
1P
|
Net
|
Sec
|
2 420 mmboe
|
0
|
123 mmboe
|
0
|
0
|
123 mmboe
|
0
|
−129 mmboe
|
−129 mmboe
|
0
|
252 mmboe
|
2 414 mmboe
|
✓
|
|
Canada/Other Americas Upstream (Segment)
|
Synthetic crude
|
1P
|
Net
|
Sec
|
353 mmboe
|
0
|
26 mmboe
|
0
|
0
|
26 mmboe
|
0
|
−25 mmboe
|
−25 mmboe
|
0
|
51 mmboe
|
354 mmboe
|
✓
|
|
Canada/Other Americas Upstream (Segment)
|
Natural gas
|
1P
|
Net
|
Sec
|
118 mmboe
|
11.17 mmboe
|
−33.5 mmboe
|
0
|
0
|
−22.33 mmboe
|
−0.17 mmboe
|
−8.83 mmboe
|
−9 mmboe
|
0
|
−13.33 mmboe
|
86.67 mmboe
|
✓
|
|
2024
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Canada/Other Americas Upstream (Segment)
|
Oil
|
1P
|
Net
|
Sec
|
994 mmboe
|
138 mmboe
|
116 mmboe
|
0
|
0
|
254 mmboe
|
−4 mmboe
|
−126 mmboe
|
−130 mmboe
|
0
|
384 mmboe
|
1 118 mmboe
|
✓
|
|
Canada/Other Americas Upstream (Segment)
|
Bitumen
|
1P
|
Net
|
Sec
|
2 414 mmboe
|
0
|
152 mmboe
|
0
|
0
|
152 mmboe
|
0
|
−137 mmboe
|
−137 mmboe
|
0
|
289 mmboe
|
2 429 mmboe
|
✓
|
|
Canada/Other Americas Upstream (Segment)
|
Synthetic crude
|
1P
|
Net
|
Sec
|
354 mmboe
|
0
|
−35 mmboe
|
0
|
0
|
−35 mmboe
|
0
|
−23 mmboe
|
−23 mmboe
|
0
|
−12 mmboe
|
296 mmboe
|
✓
|
|
Canada/Other Americas Upstream (Segment)
|
Natural gas
|
1P
|
Net
|
Sec
|
86.67 mmboe
|
11.33 mmboe
|
3.67 mmboe
|
0
|
0
|
15 mmboe
|
−1.67 mmboe
|
−9.83 mmboe
|
−11.5 mmboe
|
0
|
26.5 mmboe
|
90.17 mmboe
|
✓
|
|
2025
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Canada/Other Americas Upstream (Segment)
|
Oil
|
1P
|
Net
|
Sec
|
1 118 mmboe
|
92 mmboe
|
124 mmboe
|
0
|
0
|
216 mmboe
|
0
|
−139 mmboe
|
−139 mmboe
|
0
|
355 mmboe
|
1 195 mmboe
|
✓
|
|
Canada/Other Americas Upstream (Segment)
|
Bitumen
|
1P
|
Net
|
Sec
|
2 429 mmboe
|
0
|
42 mmboe
|
0
|
0
|
42 mmboe
|
0
|
−141 mmboe
|
−141 mmboe
|
0
|
183 mmboe
|
2 330 mmboe
|
✓
|
|
Canada/Other Americas Upstream (Segment)
|
Synthetic crude
|
1P
|
Net
|
Sec
|
296 mmboe
|
0
|
17 mmboe
|
0
|
0
|
17 mmboe
|
0
|
−25 mmboe
|
−25 mmboe
|
0
|
42 mmboe
|
288 mmboe
|
✓
|
|
Canada/Other Americas Upstream (Segment)
|
Natural gas
|
1P
|
Net
|
Sec
|
90.17 mmboe
|
4.33 mmboe
|
3.5 mmboe
|
0
|
0
|
7.83 mmboe
|
−4.67 mmboe
|
−5.5 mmboe
|
−10.17 mmboe
|
0
|
18 mmboe
|
87.83 mmboe
|
✓
|
2023
Category / dev_status
Reporting basis
Pricing case
Opening
+ Ext. & disc.
+ Revisions
+ Improved rec.
+ Purchases
Combined added
− Divestitures
− Production
Combined used
± Conv. to developed
Net change
Closing
Balance check
Canada/Other Americas Upstream (Segment)
Oil
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
945 mmboe
+ Ext. & disc.
105 mmboe
+ Revisions
32 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
137 mmboe
− Divestitures
0
− Production
−88 mmboe
Combined used
−88 mmboe
± Conv. to developed
0
Net change
225 mmboe
Closing
994 mmboe
Balance check
✓
Canada/Other Americas Upstream (Segment)
Bitumen
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
2 420 mmboe
+ Ext. & disc.
0
+ Revisions
123 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
123 mmboe
− Divestitures
0
− Production
−129 mmboe
Combined used
−129 mmboe
± Conv. to developed
0
Net change
252 mmboe
Closing
2 414 mmboe
Balance check
✓
Canada/Other Americas Upstream (Segment)
Synthetic crude
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
353 mmboe
+ Ext. & disc.
0
+ Revisions
26 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
26 mmboe
− Divestitures
0
− Production
−25 mmboe
Combined used
−25 mmboe
± Conv. to developed
0
Net change
51 mmboe
Closing
354 mmboe
Balance check
✓
Canada/Other Americas Upstream (Segment)
Natural gas
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
118 mmboe
+ Ext. & disc.
11.17 mmboe
+ Revisions
−33.5 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
−22.33 mmboe
− Divestitures
−0.17 mmboe
− Production
−8.83 mmboe
Combined used
−9 mmboe
± Conv. to developed
0
Net change
−13.33 mmboe
Closing
86.67 mmboe
Balance check
✓
2024
Category / dev_status
Reporting basis
Pricing case
Opening
+ Ext. & disc.
+ Revisions
+ Improved rec.
+ Purchases
Combined added
− Divestitures
− Production
Combined used
± Conv. to developed
Net change
Closing
Balance check
Canada/Other Americas Upstream (Segment)
Oil
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
994 mmboe
+ Ext. & disc.
138 mmboe
+ Revisions
116 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
254 mmboe
− Divestitures
−4 mmboe
− Production
−126 mmboe
Combined used
−130 mmboe
± Conv. to developed
0
Net change
384 mmboe
Closing
1 118 mmboe
Balance check
✓
Canada/Other Americas Upstream (Segment)
Bitumen
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
2 414 mmboe
+ Ext. & disc.
0
+ Revisions
152 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
152 mmboe
− Divestitures
0
− Production
−137 mmboe
Combined used
−137 mmboe
± Conv. to developed
0
Net change
289 mmboe
Closing
2 429 mmboe
Balance check
✓
Canada/Other Americas Upstream (Segment)
Synthetic crude
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
354 mmboe
+ Ext. & disc.
0
+ Revisions
−35 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
−35 mmboe
− Divestitures
0
− Production
−23 mmboe
Combined used
−23 mmboe
± Conv. to developed
0
Net change
−12 mmboe
Closing
296 mmboe
Balance check
✓
Canada/Other Americas Upstream (Segment)
Natural gas
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
86.67 mmboe
+ Ext. & disc.
11.33 mmboe
+ Revisions
3.67 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
15 mmboe
− Divestitures
−1.67 mmboe
− Production
−9.83 mmboe
Combined used
−11.5 mmboe
± Conv. to developed
0
Net change
26.5 mmboe
Closing
90.17 mmboe
Balance check
✓
2025
Category / dev_status
Reporting basis
Pricing case
Opening
+ Ext. & disc.
+ Revisions
+ Improved rec.
+ Purchases
Combined added
− Divestitures
− Production
Combined used
± Conv. to developed
Net change
Closing
Balance check
Canada/Other Americas Upstream (Segment)
Oil
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
1 118 mmboe
+ Ext. & disc.
92 mmboe
+ Revisions
124 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
216 mmboe
− Divestitures
0
− Production
−139 mmboe
Combined used
−139 mmboe
± Conv. to developed
0
Net change
355 mmboe
Closing
1 195 mmboe
Balance check
✓
Canada/Other Americas Upstream (Segment)
Bitumen
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
2 429 mmboe
+ Ext. & disc.
0
+ Revisions
42 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
42 mmboe
− Divestitures
0
− Production
−141 mmboe
Combined used
−141 mmboe
± Conv. to developed
0
Net change
183 mmboe
Closing
2 330 mmboe
Balance check
✓
Canada/Other Americas Upstream (Segment)
Synthetic crude
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
296 mmboe
+ Ext. & disc.
0
+ Revisions
17 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
17 mmboe
− Divestitures
0
− Production
−25 mmboe
Combined used
−25 mmboe
± Conv. to developed
0
Net change
42 mmboe
Closing
288 mmboe
Balance check
✓
Canada/Other Americas Upstream (Segment)
Natural gas
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
90.17 mmboe
+ Ext. & disc.
4.33 mmboe
+ Revisions
3.5 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
7.83 mmboe
− Divestitures
−4.67 mmboe
− Production
−5.5 mmboe
Combined used
−10.17 mmboe
± Conv. to developed
0
Net change
18 mmboe
Closing
87.83 mmboe
Balance check
✓
Reserves walk · Gross (disclosed) — Assumptions & Disclaimers
Assumptions
- Per METALPILOT model invariants: closing = opening + Σ deltas. Rows are rendered as disclosed (gross reporting basis), grouped by period year. Signs follow the source. Combined added rolls up the four additive lines; Combined used rolls up divestitures and production. Net change is combined added minus combined used.
Disclaimer
- Mining / R&R walks are not modelled here. Royalty / stream walks reflect the operator's underlying movement on the gross asset, not cash to the holder. Balance check: ✓ when closing balances within 1% of opening + Σ deltas; otherwise the variance is shown as 'Δ <value> <unit>'.
Reserves walk · Net change by year
| Year | ||||
|---|---|---|---|---|
| Oil · 1P · Net change (Δ %) | Bitumen · 1P · Net change (Δ %) | Synthetic crude · 1P · Net change (Δ %) | Natural gas · 1P · Net change (Δ %) | |
|
2023
|
225 mmboe (+24%)
|
252 mmboe (+10%)
|
51 mmboe (+14%)
|
−13.33 mmboe (-11%)
|
|
2024
|
384 mmboe (+39%)
|
289 mmboe (+12%)
|
−12 mmboe (-3%)
|
26.5 mmboe (+31%)
|
|
2025
|
355 mmboe (+32%)
|
183 mmboe (+8%)
|
42 mmboe (+14%)
|
18 mmboe (+20%)
|
2023
Oil · 1P · Net change (Δ %)
225 mmboe (+24%)
Bitumen · 1P · Net change (Δ %)
252 mmboe (+10%)
Synthetic crude · 1P · Net change (Δ %)
51 mmboe (+14%)
Natural gas · 1P · Net change (Δ %)
−13.33 mmboe (-11%)
2024
Oil · 1P · Net change (Δ %)
384 mmboe (+39%)
Bitumen · 1P · Net change (Δ %)
289 mmboe (+12%)
Synthetic crude · 1P · Net change (Δ %)
−12 mmboe (-3%)
Natural gas · 1P · Net change (Δ %)
26.5 mmboe (+31%)
2025
Oil · 1P · Net change (Δ %)
355 mmboe (+32%)
Bitumen · 1P · Net change (Δ %)
183 mmboe (+8%)
Synthetic crude · 1P · Net change (Δ %)
42 mmboe (+14%)
Natural gas · 1P · Net change (Δ %)
18 mmboe (+20%)
Reserves walk · Net change by year — Assumptions & Disclaimers
Assumptions
- One row per period year. Columns are attributable net change (combined added − combined used) per commodity × category slice, with Δ% vs opening balance in brackets.
Disclaimer
- Closing balances appear in the gross walk table above. Percentages use opening balance as the denominator.
Europe Upstream
Segment
Global
Natural gas
2/5
Oil
1/5
Oil Gas
Type
Operating
Status
🌍 Global
Country
Project information
As at 31 December 2025
Aggregation level:
Reporting segment
Aggregation level:
Reporting segment
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Conventional Oil Gas
Extraction:
Conventional Oil Gas
Producing wells (net):
298
Producing wells (net):
298
Description
As at 31 December 2025
Consolidated European upstream operations — UK, Norway, Germany and Netherlands, with exploration offshore Cyprus (Pegasus-1 gas discovery in 2025, commercialization options under evaluation). Equity companies (incl. GasTerra, NAM, BEB) hold additional reserves (YE2025 proved developed 207 bcf gas).
Oil & Gas metrics
Multiple effective dates · 1P
| Commodity | Production (rating) | Reserves & Resources (rating) | Estimated Lifetime |
|---|---|---|---|
|
Natural gas
|
13.87 mmboe/yr
4/5
|
56.33 mmboe 1P
2/5
|
reserves 4.1 yrs
|
|
Oil
|
0.73 mmboe/yr
2/5
|
3 mmboe 1P
1/5
|
reserves 4.1 yrs
|
|
NGL
|
-
|
-
|
-
|
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
Natural gas
13.87 mmboe/yr
4/5
56.33 mmboe 1P
2/5
reserves 4.1 yrs
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
Oil
0.73 mmboe/yr
2/5
3 mmboe 1P
1/5
reserves 4.1 yrs
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
NGL
-
-
-
Oil & Gas metrics — Assumptions & Disclaimers
Assumptions
- Petroleum reserves are reported under SPE-PRMS, NI 51-101, COGEH or SEC S-K 1200. The headline figure is 2P (Proved + Probable) when disclosed, falling back to 1P (Proved) for SEC-only filers; 3P is shown for transparency only.
- Pricing case. PRMS / NI 51-101 reserves are typically dual-reported under 'Forecast Prices & Costs' and 'Constant / SEC Prices & Costs'. Both cases are shown when disclosed; do not add them together.
- Development status. Petroleum reserves carry an orthogonal developed / undeveloped axis (PDP, PDNP, PUD). Where the source splits the reserve into these buckets we preserve the split.
- Reserves walk tables (if present) disaggregate the change in reserves into Opening balance, Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production, Conversion to developed and Closing balance, following NI 51-101 / SEC S-K 1200 reconciliation requirements.
- Contingent (1C/2C/3C) and Prospective (1U/2U/3U) resources are shown for transparency but do not feed the headline 2P metric and do not contribute to the USD value mix.
- BOE / Mcfe conversion uses a 6:1 thermal ratio unless the source declares otherwise. Thermal convenience only — not economic equivalence.
Disclaimer
- Oil and gas estimates are inherently uncertain. Even Proved (1P) reserves carry an SEC-defined 'reasonable certainty' standard, which is not the same as a guarantee of recovery. Booked reserves are highly sensitive to assumed prices; price-deck changes can move 2P balances by material amounts year-on-year. Contingent and Prospective volumes carry substantial discovery, appraisal, commercial and development risk.
Oil & Gas inventory & footprint
Multiple effective dates
| Land (net acres) | Wellbore stock (net wells) | Drilling runway (net locations) | Breakeven & type curve | Drilling activity (latest FY) | Active stock (latest) |
|---|---|---|---|---|---|
|
8.30M net acres · 7% developed
546k developed · 7.75M undeveloped
|
298 net producing
|
-
|
-
|
1 drilled
FY 2025
|
1 WIP
|
Land (net acres)
Wellbore stock (net wells)
Drilling runway (net locations)
Breakeven & type curve
Drilling activity (latest FY)
Active stock (latest)
8.30M net acres · 7% developed
546k developed · 7.75M undeveloped
298 net producing
-
-
1 drilled
FY 2025
1 WIP
Oil & Gas inventory & footprint — Assumptions & Disclaimers
Assumptions
- Grain. One row per asset (not per commodity). Per-commodity reserves and production stay on the Oil & Gas table immediately above; this section answers the orthogonal question of land, wellbore stock, drilling runway and recent activity.
- Rail. All counts and acreages are NET (working-interest share) — the investor's actual exposure, not the operator's gross filing. Where a source only publishes gross figures, the cell falls back to '–'.
- Acres. Developed + undeveloped net acres at the latest effective_date; total net acres and the developed share (% of total) are on the first line, with developed and undeveloped magnitudes on the second line.
- Wellbore stock. Latest producing_wells_net is the headline; non_producing_wells_net (shut-in, suspended, behind-pipe) is added as '+ N non-producing' when the filer separates them.
- Drilling runway. 'Net locations' is management's headline identified-inventory count at the disclosed breakeven. 'Booked PUD' is the subset already booked as Proved Undeveloped reserves on the Oil & Gas table above; the remainder is the 'shadow inventory' — economic at the stated breakeven but excluded from booked reserves by the SEC five-year PUD rule, trailing-12-month pricing or the reasonable-certainty standard.
- Breakeven & type curve. Breakeven price defaults to USD per bbl WTI; non-WTI / non-USD benchmarks are echoed inline. EUR per well is taken as published; do not sum across assets with different unit families (mboe / mmboe / mbbl / mmbbl / bcf / tcf).
- Activity. Flow rows (wells drilled, wells completed) use the latest period_year on the latest period_type. Stock rows (DUC count, rigs running, completion crews, wells in progress) use the latest effective_date. A blank cell means the company did not disclose that activity_kind.
Disclaimer
- Footprint and runway are stocks at a point in time and may straddle the reserves effective date by up to a quarter. Net economic locations are a management estimate at a stated breakeven price — re-pricing the deck or changing the benchmark can move the number materially without any underlying reserves change. Shadow inventory should be read as 'optionality the operator believes economic', not 'reserves'. DUC and rigs-running counts at one effective_date are leading indicators of near-term production but are not commitments. Carried interests, area-of-mutual-interest agreements and joint-venture mechanics can cause the disclosed net figure to drift from a naive net = gross × working-interest calculation. EUR per well is blended across formations unless the source split it; cross-operator comparison is indicative only.
Reserves & resources — detail
As at 31 December 2025
Reserves & resources — detail — Assumptions & Disclaimers
Assumptions
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
Disclaimer
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Reserves walk · Gross (disclosed)
| Project | Commodity | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Category / dev_status | Reporting basis | Pricing case | Opening | + Ext. & disc. | + Revisions | + Improved rec. | + Purchases | Combined added | − Divestitures | − Production | Combined used | ± Conv. to developed | Net change | Closing | Balance check | ||
|
2023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Europe Upstream (Segment)
|
Natural gas
|
1P
|
Net
|
Sec
|
68.83 mmboe
|
0
|
−0.5 mmboe
|
0
|
0
|
−0.5 mmboe
|
0
|
−17.17 mmboe
|
−17.17 mmboe
|
0
|
16.67 mmboe
|
51.17 mmboe
|
✓
|
|
Europe Upstream (Segment)
|
Oil
|
1P
|
Net
|
Sec
|
5 mmboe
|
0
|
0
|
0
|
0
|
0
|
0
|
−1 mmboe
|
−1 mmboe
|
0
|
1 mmboe
|
4 mmboe
|
✓
|
|
2024
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Europe Upstream (Segment)
|
Natural gas
|
1P
|
Net
|
Sec
|
51.17 mmboe
|
0
|
33 mmboe
|
0
|
0
|
33 mmboe
|
0
|
−16.5 mmboe
|
−16.5 mmboe
|
0
|
49.5 mmboe
|
67.67 mmboe
|
✓
|
|
Europe Upstream (Segment)
|
Oil
|
1P
|
Net
|
Sec
|
4 mmboe
|
0
|
0
|
0
|
0
|
0
|
0
|
−1 mmboe
|
−1 mmboe
|
0
|
1 mmboe
|
3 mmboe
|
✓
|
|
2025
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Europe Upstream (Segment)
|
Natural gas
|
1P
|
Net
|
Sec
|
67.67 mmboe
|
0
|
3.5 mmboe
|
0
|
0
|
3.5 mmboe
|
0
|
−14.83 mmboe
|
−14.83 mmboe
|
0
|
18.33 mmboe
|
56.33 mmboe
|
✓
|
|
Europe Upstream (Segment)
|
Oil
|
1P
|
Net
|
Sec
|
3 mmboe
|
0
|
1 mmboe
|
0
|
0
|
1 mmboe
|
0
|
−1 mmboe
|
−1 mmboe
|
0
|
2 mmboe
|
3 mmboe
|
✓
|
2023
Category / dev_status
Reporting basis
Pricing case
Opening
+ Ext. & disc.
+ Revisions
+ Improved rec.
+ Purchases
Combined added
− Divestitures
− Production
Combined used
± Conv. to developed
Net change
Closing
Balance check
Europe Upstream (Segment)
Natural gas
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
68.83 mmboe
+ Ext. & disc.
0
+ Revisions
−0.5 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
−0.5 mmboe
− Divestitures
0
− Production
−17.17 mmboe
Combined used
−17.17 mmboe
± Conv. to developed
0
Net change
16.67 mmboe
Closing
51.17 mmboe
Balance check
✓
Europe Upstream (Segment)
Oil
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
5 mmboe
+ Ext. & disc.
0
+ Revisions
0
+ Improved rec.
0
+ Purchases
0
Combined added
0
− Divestitures
0
− Production
−1 mmboe
Combined used
−1 mmboe
± Conv. to developed
0
Net change
1 mmboe
Closing
4 mmboe
Balance check
✓
2024
Category / dev_status
Reporting basis
Pricing case
Opening
+ Ext. & disc.
+ Revisions
+ Improved rec.
+ Purchases
Combined added
− Divestitures
− Production
Combined used
± Conv. to developed
Net change
Closing
Balance check
Europe Upstream (Segment)
Natural gas
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
51.17 mmboe
+ Ext. & disc.
0
+ Revisions
33 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
33 mmboe
− Divestitures
0
− Production
−16.5 mmboe
Combined used
−16.5 mmboe
± Conv. to developed
0
Net change
49.5 mmboe
Closing
67.67 mmboe
Balance check
✓
Europe Upstream (Segment)
Oil
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
4 mmboe
+ Ext. & disc.
0
+ Revisions
0
+ Improved rec.
0
+ Purchases
0
Combined added
0
− Divestitures
0
− Production
−1 mmboe
Combined used
−1 mmboe
± Conv. to developed
0
Net change
1 mmboe
Closing
3 mmboe
Balance check
✓
2025
Category / dev_status
Reporting basis
Pricing case
Opening
+ Ext. & disc.
+ Revisions
+ Improved rec.
+ Purchases
Combined added
− Divestitures
− Production
Combined used
± Conv. to developed
Net change
Closing
Balance check
Europe Upstream (Segment)
Natural gas
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
67.67 mmboe
+ Ext. & disc.
0
+ Revisions
3.5 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
3.5 mmboe
− Divestitures
0
− Production
−14.83 mmboe
Combined used
−14.83 mmboe
± Conv. to developed
0
Net change
18.33 mmboe
Closing
56.33 mmboe
Balance check
✓
Europe Upstream (Segment)
Oil
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
3 mmboe
+ Ext. & disc.
0
+ Revisions
1 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
1 mmboe
− Divestitures
0
− Production
−1 mmboe
Combined used
−1 mmboe
± Conv. to developed
0
Net change
2 mmboe
Closing
3 mmboe
Balance check
✓
Reserves walk · Gross (disclosed) — Assumptions & Disclaimers
Assumptions
- Per METALPILOT model invariants: closing = opening + Σ deltas. Rows are rendered as disclosed (gross reporting basis), grouped by period year. Signs follow the source. Combined added rolls up the four additive lines; Combined used rolls up divestitures and production. Net change is combined added minus combined used.
Disclaimer
- Mining / R&R walks are not modelled here. Royalty / stream walks reflect the operator's underlying movement on the gross asset, not cash to the holder. Balance check: ✓ when closing balances within 1% of opening + Σ deltas; otherwise the variance is shown as 'Δ <value> <unit>'.
Reserves walk · Net change by year
| Year | ||
|---|---|---|
| Natural gas · 1P · Net change (Δ %) | Oil · 1P · Net change (Δ %) | |
|
2023
|
16.67 mmboe (+24%)
|
1 mmboe (+20%)
|
|
2024
|
49.5 mmboe (+97%)
|
1 mmboe (+25%)
|
|
2025
|
18.33 mmboe (+27%)
|
2 mmboe (+67%)
|
2023
Natural gas · 1P · Net change (Δ %)
16.67 mmboe (+24%)
Oil · 1P · Net change (Δ %)
1 mmboe (+20%)
2024
Natural gas · 1P · Net change (Δ %)
49.5 mmboe (+97%)
Oil · 1P · Net change (Δ %)
1 mmboe (+25%)
2025
Natural gas · 1P · Net change (Δ %)
18.33 mmboe (+27%)
Oil · 1P · Net change (Δ %)
2 mmboe (+67%)
Reserves walk · Net change by year — Assumptions & Disclaimers
Assumptions
- One row per period year. Columns are attributable net change (combined added − combined used) per commodity × category slice, with Δ% vs opening balance in brackets.
Disclaimer
- Closing balances appear in the gross walk table above. Percentages use opening balance as the denominator.
Africa Upstream
Segment
Global
Oil
4/5
Natural gas
2/5
Oil Gas
Type
Operating
Status
🌍 Global
Country
Project information
As at 31 December 2025
Aggregation level:
Reporting segment
Aggregation level:
Reporting segment
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Offshore
Extraction:
Offshore
Producing wells (net):
94
Producing wells (net):
94
Description
As at 31 December 2025
Consolidated African upstream operations — three producing deepwater blocks in Angola and three in Nigeria, plus the Coral South Floating LNG offshore Mozambique. In 2025, Angola Block 15 amended its PSA to extend the production license to 2037 and 1.6 net acres were relinquished. Equity companies hold an additional 775 bcf of proved developed gas at YE2025.
Oil & Gas metrics
Multiple effective dates · 1P
| Commodity | Production (rating) | Reserves & Resources (rating) | Estimated Lifetime |
|---|---|---|---|
|
Oil
|
51.47 mmboe/yr
4/5
|
217 mmboe 1P
4/5
|
reserves 4.2 yrs
|
|
Natural gas
|
0.12 mmboe/yr
1/5
|
18.83 mmboe 1P
2/5
|
reserves 25+ yrs
|
|
NGL
|
0.73 mmboe/yr
3/5
|
-
|
-
|
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
Oil
51.47 mmboe/yr
4/5
217 mmboe 1P
4/5
reserves 4.2 yrs
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
Natural gas
0.12 mmboe/yr
1/5
18.83 mmboe 1P
2/5
reserves 25+ yrs
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
NGL
0.73 mmboe/yr
3/5
-
-
Oil & Gas metrics — Assumptions & Disclaimers
Assumptions
- Petroleum reserves are reported under SPE-PRMS, NI 51-101, COGEH or SEC S-K 1200. The headline figure is 2P (Proved + Probable) when disclosed, falling back to 1P (Proved) for SEC-only filers; 3P is shown for transparency only.
- Pricing case. PRMS / NI 51-101 reserves are typically dual-reported under 'Forecast Prices & Costs' and 'Constant / SEC Prices & Costs'. Both cases are shown when disclosed; do not add them together.
- Development status. Petroleum reserves carry an orthogonal developed / undeveloped axis (PDP, PDNP, PUD). Where the source splits the reserve into these buckets we preserve the split.
- Reserves walk tables (if present) disaggregate the change in reserves into Opening balance, Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production, Conversion to developed and Closing balance, following NI 51-101 / SEC S-K 1200 reconciliation requirements.
- Contingent (1C/2C/3C) and Prospective (1U/2U/3U) resources are shown for transparency but do not feed the headline 2P metric and do not contribute to the USD value mix.
- BOE / Mcfe conversion uses a 6:1 thermal ratio unless the source declares otherwise. Thermal convenience only — not economic equivalence.
Disclaimer
- Oil and gas estimates are inherently uncertain. Even Proved (1P) reserves carry an SEC-defined 'reasonable certainty' standard, which is not the same as a guarantee of recovery. Booked reserves are highly sensitive to assumed prices; price-deck changes can move 2P balances by material amounts year-on-year. Contingent and Prospective volumes carry substantial discovery, appraisal, commercial and development risk.
Oil & Gas inventory & footprint
Multiple effective dates
| Land (net acres) | Wellbore stock (net wells) | Drilling runway (net locations) | Breakeven & type curve | Drilling activity (latest FY) | Active stock (latest) |
|---|---|---|---|---|---|
|
8.49M net acres · 5% developed
428k developed · 8.06M undeveloped
|
94 net producing
|
-
|
-
|
1 drilled
FY 2025
|
2 WIP
|
Land (net acres)
Wellbore stock (net wells)
Drilling runway (net locations)
Breakeven & type curve
Drilling activity (latest FY)
Active stock (latest)
8.49M net acres · 5% developed
428k developed · 8.06M undeveloped
94 net producing
-
-
1 drilled
FY 2025
2 WIP
Oil & Gas inventory & footprint — Assumptions & Disclaimers
Assumptions
- Grain. One row per asset (not per commodity). Per-commodity reserves and production stay on the Oil & Gas table immediately above; this section answers the orthogonal question of land, wellbore stock, drilling runway and recent activity.
- Rail. All counts and acreages are NET (working-interest share) — the investor's actual exposure, not the operator's gross filing. Where a source only publishes gross figures, the cell falls back to '–'.
- Acres. Developed + undeveloped net acres at the latest effective_date; total net acres and the developed share (% of total) are on the first line, with developed and undeveloped magnitudes on the second line.
- Wellbore stock. Latest producing_wells_net is the headline; non_producing_wells_net (shut-in, suspended, behind-pipe) is added as '+ N non-producing' when the filer separates them.
- Drilling runway. 'Net locations' is management's headline identified-inventory count at the disclosed breakeven. 'Booked PUD' is the subset already booked as Proved Undeveloped reserves on the Oil & Gas table above; the remainder is the 'shadow inventory' — economic at the stated breakeven but excluded from booked reserves by the SEC five-year PUD rule, trailing-12-month pricing or the reasonable-certainty standard.
- Breakeven & type curve. Breakeven price defaults to USD per bbl WTI; non-WTI / non-USD benchmarks are echoed inline. EUR per well is taken as published; do not sum across assets with different unit families (mboe / mmboe / mbbl / mmbbl / bcf / tcf).
- Activity. Flow rows (wells drilled, wells completed) use the latest period_year on the latest period_type. Stock rows (DUC count, rigs running, completion crews, wells in progress) use the latest effective_date. A blank cell means the company did not disclose that activity_kind.
Disclaimer
- Footprint and runway are stocks at a point in time and may straddle the reserves effective date by up to a quarter. Net economic locations are a management estimate at a stated breakeven price — re-pricing the deck or changing the benchmark can move the number materially without any underlying reserves change. Shadow inventory should be read as 'optionality the operator believes economic', not 'reserves'. DUC and rigs-running counts at one effective_date are leading indicators of near-term production but are not commitments. Carried interests, area-of-mutual-interest agreements and joint-venture mechanics can cause the disclosed net figure to drift from a naive net = gross × working-interest calculation. EUR per well is blended across formations unless the source split it; cross-operator comparison is indicative only.
Reserves & resources — detail
As at 31 December 2025
Reserves & resources — detail — Assumptions & Disclaimers
Assumptions
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
Disclaimer
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Reserves walk · Gross (disclosed)
| Project | Commodity | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Category / dev_status | Reporting basis | Pricing case | Opening | + Ext. & disc. | + Revisions | + Improved rec. | + Purchases | Combined added | − Divestitures | − Production | Combined used | ± Conv. to developed | Net change | Closing | Balance check | ||
|
2023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Africa Upstream (Segment)
|
Oil
|
1P
|
Net
|
Sec
|
271 mmboe
|
0
|
31 mmboe
|
0
|
0
|
31 mmboe
|
0
|
−78 mmboe
|
−78 mmboe
|
0
|
109 mmboe
|
224 mmboe
|
✓
|
|
Africa Upstream (Segment)
|
Natural gas
|
1P
|
Net
|
Sec
|
52 mmboe
|
0
|
−8.17 mmboe
|
0
|
0
|
−8.17 mmboe
|
0
|
−7.17 mmboe
|
−7.17 mmboe
|
0
|
−1 mmboe
|
36.67 mmboe
|
✓
|
|
2024
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Africa Upstream (Segment)
|
Oil
|
1P
|
Net
|
Sec
|
224 mmboe
|
25 mmboe
|
62 mmboe
|
0
|
0
|
87 mmboe
|
−45 mmboe
|
−75 mmboe
|
−120 mmboe
|
0
|
207 mmboe
|
191 mmboe
|
✓
|
|
Africa Upstream (Segment)
|
Natural gas
|
1P
|
Net
|
Sec
|
36.67 mmboe
|
0.33 mmboe
|
4 mmboe
|
0
|
0
|
4.33 mmboe
|
−17.5 mmboe
|
−7.67 mmboe
|
−25.17 mmboe
|
0
|
29.5 mmboe
|
15.83 mmboe
|
✓
|
|
2025
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Africa Upstream (Segment)
|
Oil
|
1P
|
Net
|
Sec
|
191 mmboe
|
0
|
78 mmboe
|
0
|
0
|
78 mmboe
|
0
|
−52 mmboe
|
−52 mmboe
|
0
|
130 mmboe
|
217 mmboe
|
✓
|
|
Africa Upstream (Segment)
|
Natural gas
|
1P
|
Net
|
Sec
|
15.83 mmboe
|
0
|
5.67 mmboe
|
0
|
0
|
5.67 mmboe
|
0
|
−2.67 mmboe
|
−2.67 mmboe
|
0
|
8.33 mmboe
|
18.83 mmboe
|
✓
|
2023
Category / dev_status
Reporting basis
Pricing case
Opening
+ Ext. & disc.
+ Revisions
+ Improved rec.
+ Purchases
Combined added
− Divestitures
− Production
Combined used
± Conv. to developed
Net change
Closing
Balance check
Africa Upstream (Segment)
Oil
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
271 mmboe
+ Ext. & disc.
0
+ Revisions
31 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
31 mmboe
− Divestitures
0
− Production
−78 mmboe
Combined used
−78 mmboe
± Conv. to developed
0
Net change
109 mmboe
Closing
224 mmboe
Balance check
✓
Africa Upstream (Segment)
Natural gas
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
52 mmboe
+ Ext. & disc.
0
+ Revisions
−8.17 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
−8.17 mmboe
− Divestitures
0
− Production
−7.17 mmboe
Combined used
−7.17 mmboe
± Conv. to developed
0
Net change
−1 mmboe
Closing
36.67 mmboe
Balance check
✓
2024
Category / dev_status
Reporting basis
Pricing case
Opening
+ Ext. & disc.
+ Revisions
+ Improved rec.
+ Purchases
Combined added
− Divestitures
− Production
Combined used
± Conv. to developed
Net change
Closing
Balance check
Africa Upstream (Segment)
Oil
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
224 mmboe
+ Ext. & disc.
25 mmboe
+ Revisions
62 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
87 mmboe
− Divestitures
−45 mmboe
− Production
−75 mmboe
Combined used
−120 mmboe
± Conv. to developed
0
Net change
207 mmboe
Closing
191 mmboe
Balance check
✓
Africa Upstream (Segment)
Natural gas
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
36.67 mmboe
+ Ext. & disc.
0.33 mmboe
+ Revisions
4 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
4.33 mmboe
− Divestitures
−17.5 mmboe
− Production
−7.67 mmboe
Combined used
−25.17 mmboe
± Conv. to developed
0
Net change
29.5 mmboe
Closing
15.83 mmboe
Balance check
✓
2025
Category / dev_status
Reporting basis
Pricing case
Opening
+ Ext. & disc.
+ Revisions
+ Improved rec.
+ Purchases
Combined added
− Divestitures
− Production
Combined used
± Conv. to developed
Net change
Closing
Balance check
Africa Upstream (Segment)
Oil
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
191 mmboe
+ Ext. & disc.
0
+ Revisions
78 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
78 mmboe
− Divestitures
0
− Production
−52 mmboe
Combined used
−52 mmboe
± Conv. to developed
0
Net change
130 mmboe
Closing
217 mmboe
Balance check
✓
Africa Upstream (Segment)
Natural gas
Category / dev_status
1P
Reporting basis
Net
Pricing case
Sec
Opening
15.83 mmboe
+ Ext. & disc.
0
+ Revisions
5.67 mmboe
+ Improved rec.
0
+ Purchases
0
Combined added
5.67 mmboe
− Divestitures
0
− Production
−2.67 mmboe
Combined used
−2.67 mmboe
± Conv. to developed
0
Net change
8.33 mmboe
Closing
18.83 mmboe
Balance check
✓
Reserves walk · Gross (disclosed) — Assumptions & Disclaimers
Assumptions
- Per METALPILOT model invariants: closing = opening + Σ deltas. Rows are rendered as disclosed (gross reporting basis), grouped by period year. Signs follow the source. Combined added rolls up the four additive lines; Combined used rolls up divestitures and production. Net change is combined added minus combined used.
Disclaimer
- Mining / R&R walks are not modelled here. Royalty / stream walks reflect the operator's underlying movement on the gross asset, not cash to the holder. Balance check: ✓ when closing balances within 1% of opening + Σ deltas; otherwise the variance is shown as 'Δ <value> <unit>'.
Reserves walk · Net change by year
| Year | ||
|---|---|---|
| Oil · 1P · Net change (Δ %) | Natural gas · 1P · Net change (Δ %) | |
|
2023
|
109 mmboe (+40%)
|
−1 mmboe (-2%)
|
|
2024
|
207 mmboe (+92%)
|
29.5 mmboe (+80%)
|
|
2025
|
130 mmboe (+68%)
|
8.33 mmboe (+53%)
|
2023
Oil · 1P · Net change (Δ %)
109 mmboe (+40%)
Natural gas · 1P · Net change (Δ %)
−1 mmboe (-2%)
2024
Oil · 1P · Net change (Δ %)
207 mmboe (+92%)
Natural gas · 1P · Net change (Δ %)
29.5 mmboe (+80%)
2025
Oil · 1P · Net change (Δ %)
130 mmboe (+68%)
Natural gas · 1P · Net change (Δ %)
8.33 mmboe (+53%)
Reserves walk · Net change by year — Assumptions & Disclaimers
Assumptions
- One row per period year. Columns are attributable net change (combined added − combined used) per commodity × category slice, with Δ% vs opening balance in brackets.
Disclaimer
- Closing balances appear in the gross walk table above. Percentages use opening balance as the denominator.
Development · 1 project
Rovuma LNG
Asset · Feasibility · Ownership 36%
Mozambique, Offshore Mozambique (Area 4)
Oil Gas
Type
Development
Status
🇲🇿 Mozambique, Offshore Mozambique (Area 4)
Country
Project information
As at 31 December 2025
Aggregation level:
Asset
Aggregation level:
Asset
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
36
Ownership %:
36
Operator:
Yes
Operator:
Yes
Extraction:
Lng
Extraction:
Lng
Description
As at 31 December 2025
Proposed onshore LNG development of the Area 4 offshore gas resources in Mozambique (ExxonMobil 36% interest in Mozambique Rovuma Venture S.p.A.). Force majeure was lifted in 2025 and the project continues front-end engineering and design in support of a final investment decision in 2026.
Oil & Gas metrics
| Commodity | Production (rating) | Reserves & Resources (rating) | Estimated Lifetime |
|---|---|---|---|
|
-
|
-
|
-
|
-
|
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
-
-
-
-
Oil & Gas metrics — Assumptions & Disclaimers
Assumptions
- Petroleum reserves are reported under SPE-PRMS, NI 51-101, COGEH or SEC S-K 1200. The headline figure is 2P (Proved + Probable) when disclosed, falling back to 1P (Proved) for SEC-only filers; 3P is shown for transparency only.
- Pricing case. PRMS / NI 51-101 reserves are typically dual-reported under 'Forecast Prices & Costs' and 'Constant / SEC Prices & Costs'. Both cases are shown when disclosed; do not add them together.
- Development status. Petroleum reserves carry an orthogonal developed / undeveloped axis (PDP, PDNP, PUD). Where the source splits the reserve into these buckets we preserve the split.
- Reserves walk tables (if present) disaggregate the change in reserves into Opening balance, Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production, Conversion to developed and Closing balance, following NI 51-101 / SEC S-K 1200 reconciliation requirements.
- Contingent (1C/2C/3C) and Prospective (1U/2U/3U) resources are shown for transparency but do not feed the headline 2P metric and do not contribute to the USD value mix.
- BOE / Mcfe conversion uses a 6:1 thermal ratio unless the source declares otherwise. Thermal convenience only — not economic equivalence.
Disclaimer
- Oil and gas estimates are inherently uncertain. Even Proved (1P) reserves carry an SEC-defined 'reasonable certainty' standard, which is not the same as a guarantee of recovery. Booked reserves are highly sensitive to assumed prices; price-deck changes can move 2P balances by material amounts year-on-year. Contingent and Prospective volumes carry substantial discovery, appraisal, commercial and development risk.
Exploration · 1 project
Offshore Cyprus Exploration (Pegasus-1)
Asset · Exploration
Cyprus, Offshore Cyprus
Oil Gas
Type
Exploration
Status
Cyprus, Offshore Cyprus
Country
Project information
As at 31 December 2025
Aggregation level:
Asset
Aggregation level:
Asset
Report standard:
Sec S K 1200
Report standard:
Sec S K 1200
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Offshore
Extraction:
Offshore
Description
As at 31 December 2025
The Pegasus-1 exploratory well was drilled offshore Cyprus in 2025 and encountered a gas-bearing reservoir. Evaluations are ongoing to develop potential commercialization options.
Oil & Gas metrics
| Commodity | Production (rating) | Reserves & Resources (rating) | Estimated Lifetime |
|---|---|---|---|
|
-
|
-
|
-
|
-
|
Commodity
Production (rating)
Reserves & Resources (rating)
Estimated Lifetime
-
-
-
-
Oil & Gas metrics — Assumptions & Disclaimers
Assumptions
- Petroleum reserves are reported under SPE-PRMS, NI 51-101, COGEH or SEC S-K 1200. The headline figure is 2P (Proved + Probable) when disclosed, falling back to 1P (Proved) for SEC-only filers; 3P is shown for transparency only.
- Pricing case. PRMS / NI 51-101 reserves are typically dual-reported under 'Forecast Prices & Costs' and 'Constant / SEC Prices & Costs'. Both cases are shown when disclosed; do not add them together.
- Development status. Petroleum reserves carry an orthogonal developed / undeveloped axis (PDP, PDNP, PUD). Where the source splits the reserve into these buckets we preserve the split.
- Reserves walk tables (if present) disaggregate the change in reserves into Opening balance, Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production, Conversion to developed and Closing balance, following NI 51-101 / SEC S-K 1200 reconciliation requirements.
- Contingent (1C/2C/3C) and Prospective (1U/2U/3U) resources are shown for transparency but do not feed the headline 2P metric and do not contribute to the USD value mix.
- BOE / Mcfe conversion uses a 6:1 thermal ratio unless the source declares otherwise. Thermal convenience only — not economic equivalence.
Disclaimer
- Oil and gas estimates are inherently uncertain. Even Proved (1P) reserves carry an SEC-defined 'reasonable certainty' standard, which is not the same as a guarantee of recovery. Booked reserves are highly sensitive to assumed prices; price-deck changes can move 2P balances by material amounts year-on-year. Contingent and Prospective volumes carry substantial discovery, appraisal, commercial and development risk.
Processing facilities · 16 projects
Qatar LNG (North Field)
District · Lng Export · Operating
Qatar, Qatar
Natural gas
Project information
As at 31 December 2025
Type:
Processing Facility
Type:
Processing Facility
Aggregation level:
District / complex
Aggregation level:
District / complex
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
QatarEnergy LNG ventures
Operator name:
QatarEnergy LNG ventures
Extraction:
Lng
Extraction:
Lng
Country:
Qatar
Country:
Qatar
Region:
Qatar
Region:
Qatar
Facility kind:
Lng Export
Facility kind:
Lng Export
Licensed capacity:
45.7
Licensed capacity:
45.7
Capacity unit:
mt
Capacity unit:
mt
Capacity period:
Per Year
Capacity period:
Per Year
Capacity kind:
Nameplate
Capacity kind:
Nameplate
Description
As at 31 December 2025
ExxonMobil participation in Qatar LNG — 45.7 million tonnes per year of gross liquefied natural gas capacity and 3.4 bcf/d of flowing gas capacity in 2025. Development activities continued on the North Field East and North Field Production Sustainment projects. Held through QatarEnergy LNG equity ventures (ownership interests of 24-31% across QatarEnergy LNG N and S trains).
Processing facilities
As at 31 December 2025
| Feedstock | Capacity |
|---|---|
|
Natural gas
|
3.4 bcf/Per Day
Nameplate
|
Feedstock
Capacity
Natural gas
3.4 bcf/Per Day
Nameplate
Processing facilities — Assumptions & Disclaimers
Assumptions
- Capacity is the nameplate or licensed capacity from the project record, not period throughput.
- Throughput volumes (annual barrels processed, tonnes milled, Mcf moved) are modelled as production on the same facility and are surfaced under the Production / lifetime columns where present.
- Feedstock is sourced from resource rows tagged for the facility.
Disclaimer
- Nameplate capacity is an engineering maximum; sustained utilisation may be substantially lower because of maintenance, environmental limits, commercial contracts, weather or feedstock availability. Processing margins (refining crack spreads, smelter TC/RCs, fractionation spreads) are commodity-specific and may not be visible on this page.
Beaumont Refining & Chemical Complex
Asset · Operating
United States, Texas
Oil
Project information
As at 31 December 2025
Type:
Processing Facility
Type:
Processing Facility
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Processing Facility
Extraction:
Processing Facility
Country:
United States
Country:
United States
Region:
Texas
Region:
Texas
Facility kind:
-
Facility kind:
-
Licensed capacity:
612
Licensed capacity:
612
Capacity unit:
mbbl
Capacity unit:
mbbl
Capacity period:
Per Day
Capacity period:
Per Day
Capacity kind:
Nameplate
Capacity kind:
Nameplate
Description
As at 31 December 2025
Beaumont Refining & Chemical Complex — ExxonMobil's share of refining capacity 612 thousand barrels per day at year-end 2025 (ExxonMobil interest 100%). Part of the integrated global refining and chemical manufacturing network. Ethylene 0.9 Mt/yr, polyethylene 1.7 Mt/yr.
Processing facilities
As at 31 December 2025
| Feedstock | Capacity |
|---|---|
|
Oil
|
612 mbbl/Per Day
Nameplate
|
Feedstock
Capacity
Oil
612 mbbl/Per Day
Nameplate
Processing facilities — Assumptions & Disclaimers
Assumptions
- Capacity is the nameplate or licensed capacity from the project record, not period throughput.
- Throughput volumes (annual barrels processed, tonnes milled, Mcf moved) are modelled as production on the same facility and are surfaced under the Production / lifetime columns where present.
- Feedstock is sourced from resource rows tagged for the facility.
Disclaimer
- Nameplate capacity is an engineering maximum; sustained utilisation may be substantially lower because of maintenance, environmental limits, commercial contracts, weather or feedstock availability. Processing margins (refining crack spreads, smelter TC/RCs, fractionation spreads) are commodity-specific and may not be visible on this page.
Singapore Refining & Chemical Complex
Asset · Operating
Singapore, Jurong/Singapore
Oil
Project information
As at 31 December 2025
Type:
Processing Facility
Type:
Processing Facility
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Processing Facility
Extraction:
Processing Facility
Country:
Singapore
Country:
Singapore
Region:
Jurong/Singapore
Region:
Jurong/Singapore
Facility kind:
-
Facility kind:
-
Licensed capacity:
592
Licensed capacity:
592
Capacity unit:
mbbl
Capacity unit:
mbbl
Capacity period:
Per Day
Capacity period:
Per Day
Capacity kind:
Nameplate
Capacity kind:
Nameplate
Description
As at 31 December 2025
Singapore Refining & Chemical Complex — ExxonMobil's share of refining capacity 592 thousand barrels per day at year-end 2025 (ExxonMobil interest 100%). Part of the integrated global refining and chemical manufacturing network. Ethylene 1.9 Mt/yr, polyethylene 1.9 Mt/yr, polypropylene 1.0 Mt/yr.
Processing facilities
As at 31 December 2025
| Feedstock | Capacity |
|---|---|
|
Oil
|
592 mbbl/Per Day
Nameplate
|
Feedstock
Capacity
Oil
592 mbbl/Per Day
Nameplate
Processing facilities — Assumptions & Disclaimers
Assumptions
- Capacity is the nameplate or licensed capacity from the project record, not period throughput.
- Throughput volumes (annual barrels processed, tonnes milled, Mcf moved) are modelled as production on the same facility and are surfaced under the Production / lifetime columns where present.
- Feedstock is sourced from resource rows tagged for the facility.
Disclaimer
- Nameplate capacity is an engineering maximum; sustained utilisation may be substantially lower because of maintenance, environmental limits, commercial contracts, weather or feedstock availability. Processing margins (refining crack spreads, smelter TC/RCs, fractionation spreads) are commodity-specific and may not be visible on this page.
Baytown Refining & Chemical Complex
Asset · Operating
United States, Texas
Oil
Project information
As at 31 December 2025
Type:
Processing Facility
Type:
Processing Facility
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Processing Facility
Extraction:
Processing Facility
Country:
United States
Country:
United States
Region:
Texas
Region:
Texas
Facility kind:
-
Facility kind:
-
Licensed capacity:
565
Licensed capacity:
565
Capacity unit:
mbbl
Capacity unit:
mbbl
Capacity period:
Per Day
Capacity period:
Per Day
Capacity kind:
Nameplate
Capacity kind:
Nameplate
Description
As at 31 December 2025
Baytown Refining & Chemical Complex — ExxonMobil's share of refining capacity 565 thousand barrels per day at year-end 2025 (ExxonMobil interest 100%). Part of the integrated global refining and chemical manufacturing network. Ethylene 4.0 Mt/yr, polypropylene 0.8 Mt/yr.
Processing facilities
As at 31 December 2025
| Feedstock | Capacity |
|---|---|
|
Oil
|
565 mbbl/Per Day
Nameplate
|
Feedstock
Capacity
Oil
565 mbbl/Per Day
Nameplate
Processing facilities — Assumptions & Disclaimers
Assumptions
- Capacity is the nameplate or licensed capacity from the project record, not period throughput.
- Throughput volumes (annual barrels processed, tonnes milled, Mcf moved) are modelled as production on the same facility and are surfaced under the Production / lifetime columns where present.
- Feedstock is sourced from resource rows tagged for the facility.
Disclaimer
- Nameplate capacity is an engineering maximum; sustained utilisation may be substantially lower because of maintenance, environmental limits, commercial contracts, weather or feedstock availability. Processing margins (refining crack spreads, smelter TC/RCs, fractionation spreads) are commodity-specific and may not be visible on this page.
Baton Rouge Refining & Chemical Complex
Asset · Operating
United States, Louisiana
Oil
Project information
As at 31 December 2025
Type:
Processing Facility
Type:
Processing Facility
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Processing Facility
Extraction:
Processing Facility
Country:
United States
Country:
United States
Region:
Louisiana
Region:
Louisiana
Facility kind:
-
Facility kind:
-
Licensed capacity:
523
Licensed capacity:
523
Capacity unit:
mbbl
Capacity unit:
mbbl
Capacity period:
Per Day
Capacity period:
Per Day
Capacity kind:
Nameplate
Capacity kind:
Nameplate
Description
As at 31 December 2025
Baton Rouge Refining & Chemical Complex — ExxonMobil's share of refining capacity 523 thousand barrels per day at year-end 2025 (ExxonMobil interest 100%). Part of the integrated global refining and chemical manufacturing network. Ethylene 1.1 Mt/yr, polyethylene 1.3 Mt/yr, polypropylene 1.0 Mt/yr.
Processing facilities
As at 31 December 2025
| Feedstock | Capacity |
|---|---|
|
Oil
|
523 mbbl/Per Day
Nameplate
|
Feedstock
Capacity
Oil
523 mbbl/Per Day
Nameplate
Processing facilities — Assumptions & Disclaimers
Assumptions
- Capacity is the nameplate or licensed capacity from the project record, not period throughput.
- Throughput volumes (annual barrels processed, tonnes milled, Mcf moved) are modelled as production on the same facility and are surfaced under the Production / lifetime columns where present.
- Feedstock is sourced from resource rows tagged for the facility.
Disclaimer
- Nameplate capacity is an engineering maximum; sustained utilisation may be substantially lower because of maintenance, environmental limits, commercial contracts, weather or feedstock availability. Processing margins (refining crack spreads, smelter TC/RCs, fractionation spreads) are commodity-specific and may not be visible on this page.
Antwerp Refinery
Asset · Operating
Belgium, Antwerp
Oil
Project information
As at 31 December 2025
Type:
Processing Facility
Type:
Processing Facility
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Processing Facility
Extraction:
Processing Facility
Country:
Belgium
Country:
Belgium
Region:
Antwerp
Region:
Antwerp
Facility kind:
-
Facility kind:
-
Licensed capacity:
318
Licensed capacity:
318
Capacity unit:
mbbl
Capacity unit:
mbbl
Capacity period:
Per Day
Capacity period:
Per Day
Capacity kind:
Nameplate
Capacity kind:
Nameplate
Description
As at 31 December 2025
Antwerp Refinery — ExxonMobil's share of refining capacity 318 thousand barrels per day at year-end 2025 (ExxonMobil interest 100%). Part of the integrated global refining and chemical manufacturing network. Polyethylene 0.4 Mt/yr.
Processing facilities
As at 31 December 2025
| Feedstock | Capacity |
|---|---|
|
Oil
|
318 mbbl/Per Day
Nameplate
|
Feedstock
Capacity
Oil
318 mbbl/Per Day
Nameplate
Processing facilities — Assumptions & Disclaimers
Assumptions
- Capacity is the nameplate or licensed capacity from the project record, not period throughput.
- Throughput volumes (annual barrels processed, tonnes milled, Mcf moved) are modelled as production on the same facility and are surfaced under the Production / lifetime columns where present.
- Feedstock is sourced from resource rows tagged for the facility.
Disclaimer
- Nameplate capacity is an engineering maximum; sustained utilisation may be substantially lower because of maintenance, environmental limits, commercial contracts, weather or feedstock availability. Processing margins (refining crack spreads, smelter TC/RCs, fractionation spreads) are commodity-specific and may not be visible on this page.
Joliet Refinery
Asset · Operating
United States, Illinois
Oil
Project information
As at 31 December 2025
Type:
Processing Facility
Type:
Processing Facility
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Processing Facility
Extraction:
Processing Facility
Country:
United States
Country:
United States
Region:
Illinois
Region:
Illinois
Facility kind:
-
Facility kind:
-
Licensed capacity:
267
Licensed capacity:
267
Capacity unit:
mbbl
Capacity unit:
mbbl
Capacity period:
Per Day
Capacity period:
Per Day
Capacity kind:
Nameplate
Capacity kind:
Nameplate
Description
As at 31 December 2025
Joliet Refinery — ExxonMobil's share of refining capacity 267 thousand barrels per day at year-end 2025 (ExxonMobil interest 100%). Part of the integrated global refining and chemical manufacturing network.
Processing facilities
As at 31 December 2025
| Feedstock | Capacity |
|---|---|
|
Oil
|
267 mbbl/Per Day
Nameplate
|
Feedstock
Capacity
Oil
267 mbbl/Per Day
Nameplate
Processing facilities — Assumptions & Disclaimers
Assumptions
- Capacity is the nameplate or licensed capacity from the project record, not period throughput.
- Throughput volumes (annual barrels processed, tonnes milled, Mcf moved) are modelled as production on the same facility and are surfaced under the Production / lifetime columns where present.
- Feedstock is sourced from resource rows tagged for the facility.
Disclaimer
- Nameplate capacity is an engineering maximum; sustained utilisation may be substantially lower because of maintenance, environmental limits, commercial contracts, weather or feedstock availability. Processing margins (refining crack spreads, smelter TC/RCs, fractionation spreads) are commodity-specific and may not be visible on this page.
Fawley Refining & Chemical Complex
Asset · Operating
United Kingdom, Hampshire
Oil
Project information
As at 31 December 2025
Type:
Processing Facility
Type:
Processing Facility
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Processing Facility
Extraction:
Processing Facility
Country:
United Kingdom
Country:
United Kingdom
Region:
Hampshire
Region:
Hampshire
Facility kind:
-
Facility kind:
-
Licensed capacity:
265
Licensed capacity:
265
Capacity unit:
mbbl
Capacity unit:
mbbl
Capacity period:
Per Day
Capacity period:
Per Day
Capacity kind:
Nameplate
Capacity kind:
Nameplate
Description
As at 31 December 2025
Fawley Refining & Chemical Complex — ExxonMobil's share of refining capacity 265 thousand barrels per day at year-end 2025 (ExxonMobil interest 100%). Part of the integrated global refining and chemical manufacturing network.
Processing facilities
As at 31 December 2025
| Feedstock | Capacity |
|---|---|
|
Oil
|
265 mbbl/Per Day
Nameplate
|
Feedstock
Capacity
Oil
265 mbbl/Per Day
Nameplate
Processing facilities — Assumptions & Disclaimers
Assumptions
- Capacity is the nameplate or licensed capacity from the project record, not period throughput.
- Throughput volumes (annual barrels processed, tonnes milled, Mcf moved) are modelled as production on the same facility and are surfaced under the Production / lifetime columns where present.
- Feedstock is sourced from resource rows tagged for the facility.
Disclaimer
- Nameplate capacity is an engineering maximum; sustained utilisation may be substantially lower because of maintenance, environmental limits, commercial contracts, weather or feedstock availability. Processing margins (refining crack spreads, smelter TC/RCs, fractionation spreads) are commodity-specific and may not be visible on this page.
Yanbu Refinery (SAMREF)
Asset · Operating · Ownership 50%
Saudi Arabia, Yanbu
Oil
Project information
As at 31 December 2025
Type:
Processing Facility
Type:
Processing Facility
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
50
Ownership %:
50
Operator:
Yes
Operator:
Yes
Extraction:
Processing Facility
Extraction:
Processing Facility
Country:
Saudi Arabia
Country:
Saudi Arabia
Region:
Yanbu
Region:
Yanbu
Facility kind:
-
Facility kind:
-
Licensed capacity:
200
Licensed capacity:
200
Capacity unit:
mbbl
Capacity unit:
mbbl
Capacity period:
Per Day
Capacity period:
Per Day
Capacity kind:
Nameplate
Capacity kind:
Nameplate
Description
As at 31 December 2025
Yanbu Refinery (SAMREF) — ExxonMobil's share of refining capacity 200 thousand barrels per day at year-end 2025 (ExxonMobil interest 50%). Part of the integrated global refining and chemical manufacturing network. Saudi Aramco Mobil Refinery Company JV (50%).
Processing facilities
As at 31 December 2025
| Feedstock | Capacity |
|---|---|
|
Oil
|
200 mbbl/Per Day
Nameplate
|
Feedstock
Capacity
Oil
200 mbbl/Per Day
Nameplate
Processing facilities — Assumptions & Disclaimers
Assumptions
- Capacity is the nameplate or licensed capacity from the project record, not period throughput.
- Throughput volumes (annual barrels processed, tonnes milled, Mcf moved) are modelled as production on the same facility and are surfaced under the Production / lifetime columns where present.
- Feedstock is sourced from resource rows tagged for the facility.
Disclaimer
- Nameplate capacity is an engineering maximum; sustained utilisation may be substantially lower because of maintenance, environmental limits, commercial contracts, weather or feedstock availability. Processing margins (refining crack spreads, smelter TC/RCs, fractionation spreads) are commodity-specific and may not be visible on this page.
Strathcona Refinery
Asset · Operating · Ownership 69.6%
Canada, Alberta
Oil
Project information
As at 31 December 2025
Type:
Processing Facility
Type:
Processing Facility
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
69.6
Ownership %:
69.6
Operator:
Yes
Operator:
Yes
Extraction:
Processing Facility
Extraction:
Processing Facility
Country:
Canada
Country:
Canada
Region:
Alberta
Region:
Alberta
Facility kind:
-
Facility kind:
-
Licensed capacity:
197
Licensed capacity:
197
Capacity unit:
mbbl
Capacity unit:
mbbl
Capacity period:
Per Day
Capacity period:
Per Day
Capacity kind:
Nameplate
Capacity kind:
Nameplate
Description
As at 31 December 2025
Strathcona Refinery — ExxonMobil's share of refining capacity 197 thousand barrels per day at year-end 2025 (ExxonMobil interest 69.6%). Part of the integrated global refining and chemical manufacturing network. Held via Imperial Oil (69.6%).
Processing facilities
As at 31 December 2025
| Feedstock | Capacity |
|---|---|
|
Oil
|
197 mbbl/Per Day
Nameplate
|
Feedstock
Capacity
Oil
197 mbbl/Per Day
Nameplate
Processing facilities — Assumptions & Disclaimers
Assumptions
- Capacity is the nameplate or licensed capacity from the project record, not period throughput.
- Throughput volumes (annual barrels processed, tonnes milled, Mcf moved) are modelled as production on the same facility and are surfaced under the Production / lifetime columns where present.
- Feedstock is sourced from resource rows tagged for the facility.
Disclaimer
- Nameplate capacity is an engineering maximum; sustained utilisation may be substantially lower because of maintenance, environmental limits, commercial contracts, weather or feedstock availability. Processing margins (refining crack spreads, smelter TC/RCs, fractionation spreads) are commodity-specific and may not be visible on this page.
Rotterdam Refinery
Asset · Operating
Netherlands, Rotterdam
Oil
Project information
As at 31 December 2025
Type:
Processing Facility
Type:
Processing Facility
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Processing Facility
Extraction:
Processing Facility
Country:
Netherlands
Country:
Netherlands
Region:
Rotterdam
Region:
Rotterdam
Facility kind:
-
Facility kind:
-
Licensed capacity:
192
Licensed capacity:
192
Capacity unit:
mbbl
Capacity unit:
mbbl
Capacity period:
Per Day
Capacity period:
Per Day
Capacity kind:
Nameplate
Capacity kind:
Nameplate
Description
As at 31 December 2025
Rotterdam Refinery — ExxonMobil's share of refining capacity 192 thousand barrels per day at year-end 2025 (ExxonMobil interest 100%). Part of the integrated global refining and chemical manufacturing network.
Processing facilities
As at 31 December 2025
| Feedstock | Capacity |
|---|---|
|
Oil
|
192 mbbl/Per Day
Nameplate
|
Feedstock
Capacity
Oil
192 mbbl/Per Day
Nameplate
Processing facilities — Assumptions & Disclaimers
Assumptions
- Capacity is the nameplate or licensed capacity from the project record, not period throughput.
- Throughput volumes (annual barrels processed, tonnes milled, Mcf moved) are modelled as production on the same facility and are surfaced under the Production / lifetime columns where present.
- Feedstock is sourced from resource rows tagged for the facility.
Disclaimer
- Nameplate capacity is an engineering maximum; sustained utilisation may be substantially lower because of maintenance, environmental limits, commercial contracts, weather or feedstock availability. Processing margins (refining crack spreads, smelter TC/RCs, fractionation spreads) are commodity-specific and may not be visible on this page.
Sarnia Refining & Chemical Complex
Asset · Operating · Ownership 69.6%
Canada, Ontario
Oil
Project information
As at 31 December 2025
Type:
Processing Facility
Type:
Processing Facility
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
69.6
Ownership %:
69.6
Operator:
Yes
Operator:
Yes
Extraction:
Processing Facility
Extraction:
Processing Facility
Country:
Canada
Country:
Canada
Region:
Ontario
Region:
Ontario
Facility kind:
-
Facility kind:
-
Licensed capacity:
124
Licensed capacity:
124
Capacity unit:
mbbl
Capacity unit:
mbbl
Capacity period:
Per Day
Capacity period:
Per Day
Capacity kind:
Nameplate
Capacity kind:
Nameplate
Description
As at 31 December 2025
Sarnia Refining & Chemical Complex — ExxonMobil's share of refining capacity 124 thousand barrels per day at year-end 2025 (ExxonMobil interest 69.6%). Part of the integrated global refining and chemical manufacturing network. Ethylene 0.3 Mt/yr, polyethylene 0.5 Mt/yr. Held via Imperial Oil (69.6%).
Processing facilities
As at 31 December 2025
| Feedstock | Capacity |
|---|---|
|
Oil
|
124 mbbl/Per Day
Nameplate
|
Feedstock
Capacity
Oil
124 mbbl/Per Day
Nameplate
Processing facilities — Assumptions & Disclaimers
Assumptions
- Capacity is the nameplate or licensed capacity from the project record, not period throughput.
- Throughput volumes (annual barrels processed, tonnes milled, Mcf moved) are modelled as production on the same facility and are surfaced under the Production / lifetime columns where present.
- Feedstock is sourced from resource rows tagged for the facility.
Disclaimer
- Nameplate capacity is an engineering maximum; sustained utilisation may be substantially lower because of maintenance, environmental limits, commercial contracts, weather or feedstock availability. Processing margins (refining crack spreads, smelter TC/RCs, fractionation spreads) are commodity-specific and may not be visible on this page.
Nanticoke Refinery
Asset · Operating · Ownership 69.6%
Canada, Ontario
Oil
Project information
As at 31 December 2025
Type:
Processing Facility
Type:
Processing Facility
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
69.6
Ownership %:
69.6
Operator:
Yes
Operator:
Yes
Extraction:
Processing Facility
Extraction:
Processing Facility
Country:
Canada
Country:
Canada
Region:
Ontario
Region:
Ontario
Facility kind:
-
Facility kind:
-
Licensed capacity:
113
Licensed capacity:
113
Capacity unit:
mbbl
Capacity unit:
mbbl
Capacity period:
Per Day
Capacity period:
Per Day
Capacity kind:
Nameplate
Capacity kind:
Nameplate
Description
As at 31 December 2025
Nanticoke Refinery — ExxonMobil's share of refining capacity 113 thousand barrels per day at year-end 2025 (ExxonMobil interest 69.6%). Part of the integrated global refining and chemical manufacturing network. Held via Imperial Oil (69.6%).
Processing facilities
As at 31 December 2025
| Feedstock | Capacity |
|---|---|
|
Oil
|
113 mbbl/Per Day
Nameplate
|
Feedstock
Capacity
Oil
113 mbbl/Per Day
Nameplate
Processing facilities — Assumptions & Disclaimers
Assumptions
- Capacity is the nameplate or licensed capacity from the project record, not period throughput.
- Throughput volumes (annual barrels processed, tonnes milled, Mcf moved) are modelled as production on the same facility and are surfaced under the Production / lifetime columns where present.
- Feedstock is sourced from resource rows tagged for the facility.
Disclaimer
- Nameplate capacity is an engineering maximum; sustained utilisation may be substantially lower because of maintenance, environmental limits, commercial contracts, weather or feedstock availability. Processing margins (refining crack spreads, smelter TC/RCs, fractionation spreads) are commodity-specific and may not be visible on this page.
Karlsruhe Refinery
Asset · Operating · Ownership 25%
Germany, Baden-Wuerttemberg
Oil
Project information
As at 31 December 2025
Type:
Processing Facility
Type:
Processing Facility
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
25
Ownership %:
25
Operator:
No
Operator:
No
Extraction:
Processing Facility
Extraction:
Processing Facility
Country:
Germany
Country:
Germany
Region:
Baden-Wuerttemberg
Region:
Baden-Wuerttemberg
Facility kind:
-
Facility kind:
-
Licensed capacity:
78
Licensed capacity:
78
Capacity unit:
mbbl
Capacity unit:
mbbl
Capacity period:
Per Day
Capacity period:
Per Day
Capacity kind:
Nameplate
Capacity kind:
Nameplate
Description
As at 31 December 2025
Karlsruhe Refinery — ExxonMobil's share of refining capacity 78 thousand barrels per day at year-end 2025 (ExxonMobil interest 25%). Part of the integrated global refining and chemical manufacturing network. ExxonMobil share of capacity at 25% interest.
Processing facilities
As at 31 December 2025
| Feedstock | Capacity |
|---|---|
|
Oil
|
78 mbbl/Per Day
Nameplate
|
Feedstock
Capacity
Oil
78 mbbl/Per Day
Nameplate
Processing facilities — Assumptions & Disclaimers
Assumptions
- Capacity is the nameplate or licensed capacity from the project record, not period throughput.
- Throughput volumes (annual barrels processed, tonnes milled, Mcf moved) are modelled as production on the same facility and are surfaced under the Production / lifetime columns where present.
- Feedstock is sourced from resource rows tagged for the facility.
Disclaimer
- Nameplate capacity is an engineering maximum; sustained utilisation may be substantially lower because of maintenance, environmental limits, commercial contracts, weather or feedstock availability. Processing margins (refining crack spreads, smelter TC/RCs, fractionation spreads) are commodity-specific and may not be visible on this page.
Fujian Refining & Petrochemical
Asset · Operating · Ownership 25%
China, Fujian
Oil
Project information
As at 31 December 2025
Type:
Processing Facility
Type:
Processing Facility
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
25
Ownership %:
25
Operator:
No
Operator:
No
Extraction:
Processing Facility
Extraction:
Processing Facility
Country:
China
Country:
China
Region:
Fujian
Region:
Fujian
Facility kind:
-
Facility kind:
-
Licensed capacity:
67
Licensed capacity:
67
Capacity unit:
mbbl
Capacity unit:
mbbl
Capacity period:
Per Day
Capacity period:
Per Day
Capacity kind:
Nameplate
Capacity kind:
Nameplate
Description
As at 31 December 2025
Fujian Refining & Petrochemical — ExxonMobil's share of refining capacity 67 thousand barrels per day at year-end 2025 (ExxonMobil interest 25%). Part of the integrated global refining and chemical manufacturing network. Ethylene 0.3 Mt/yr, polyethylene 0.2 Mt/yr, polypropylene 0.2 Mt/yr (ExxonMobil share, 25% JV).
Processing facilities
As at 31 December 2025
| Feedstock | Capacity |
|---|---|
|
Oil
|
67 mbbl/Per Day
Nameplate
|
Feedstock
Capacity
Oil
67 mbbl/Per Day
Nameplate
Processing facilities — Assumptions & Disclaimers
Assumptions
- Capacity is the nameplate or licensed capacity from the project record, not period throughput.
- Throughput volumes (annual barrels processed, tonnes milled, Mcf moved) are modelled as production on the same facility and are surfaced under the Production / lifetime columns where present.
- Feedstock is sourced from resource rows tagged for the facility.
Disclaimer
- Nameplate capacity is an engineering maximum; sustained utilisation may be substantially lower because of maintenance, environmental limits, commercial contracts, weather or feedstock availability. Processing margins (refining crack spreads, smelter TC/RCs, fractionation spreads) are commodity-specific and may not be visible on this page.
Golden Pass LNG
Asset · Lng Export · Construction · Ownership 30%
United States, Texas (Sabine Pass)
Project information
As at 31 December 2025
Type:
Processing Facility
Type:
Processing Facility
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Construction
Status:
Construction
Report standard:
-
Report standard:
-
Ownership %:
30
Ownership %:
30
Operator:
No
Operator:
No
Operator name:
Golden Pass LNG Terminal LLC
Operator name:
Golden Pass LNG Terminal LLC
Extraction:
Lng
Extraction:
Lng
Country:
United States
Country:
United States
Region:
Texas (Sabine Pass)
Region:
Texas (Sabine Pass)
Facility kind:
Lng Export
Facility kind:
Lng Export
Licensed capacity:
-
Licensed capacity:
-
Capacity unit:
-
Capacity unit:
-
Capacity period:
-
Capacity period:
-
Capacity kind:
-
Capacity kind:
-
Description
As at 31 December 2025
LNG export terminal under construction at Sabine Pass, Texas (Golden Pass LNG Terminal LLC — ExxonMobil 30% equity interest). Mechanical completion of Train 1 achieved in late 2025, with first LNG production expected in the first quarter of 2026. One of ExxonMobil's key U.S. LNG expansion opportunities alongside Qatar, Mozambique and Papua New Guinea.
Processing facilities
| Feedstock | Capacity |
|---|---|
|
Natural gas
implied
|
-
|
Feedstock
Capacity
Natural gas
implied
-
Processing facilities — Assumptions & Disclaimers
Assumptions
- Capacity is the nameplate or licensed capacity from the project record, not period throughput.
- Throughput volumes (annual barrels processed, tonnes milled, Mcf moved) are modelled as production on the same facility and are surfaced under the Production / lifetime columns where present.
- Feedstock is sourced from resource rows tagged for the facility.
Disclaimer
- Nameplate capacity is an engineering maximum; sustained utilisation may be substantially lower because of maintenance, environmental limits, commercial contracts, weather or feedstock availability. Processing margins (refining crack spreads, smelter TC/RCs, fractionation spreads) are commodity-specific and may not be visible on this page.
Assumptions
- The projects listed here reflect the information captured in this workspace and are not necessarily a complete picture of the company's portfolio. For authoritative figures, refer to the company's official filings.
36
Operating projects
1
Construction project
1
Development project
1
Exploration project
Portfolio Summary
Reserves & Resources from Portfolio Aggregate; Production mixed (Portfolio Aggregate + est. from projects) · Multiple effective dates · 1P
| Commodity | |||
|---|---|---|---|
| Production (rating) | Reserves & Resources (rating) | Production value (est.) | |
|
Oil
|
825.63 mmboe/yr
5/5
|
8 187 mmboe 1P
5/5
|
$63.4B (70%)
USD 76.8 / bbl
|
|
Natural gas
|
3 081.33 bcf/yr
513.55 mmboe/yr
5/5
|
6 068 mmboe 1P
5/5
|
$9.1B (10%)
USD 2.95 / mcf
|
|
NGL
|
223.38 mmboe/yr
5/5
|
2 437 mmboe 1P
5/5
|
$8.9B (10%)
≈ $40 / bbl mixed-NGL netback
|
|
Bitumen
|
140.53 mmboe/yr
5/5
|
2 330 mmboe 1P
5/5
|
$7.0B (8%)
≈ $50 / bbl pre-upgrade
|
|
Synthetic crude
|
24.82 mmboe/yr
4/5
|
288 mmboe 1P
4/5
|
$2.0B (2%)
≈ $80 / bbl
|
|
Oil equivalent (BOE)
|
584 mmboe/yr
5/5
est. from projects
|
-
|
-
|
Oil
Production (rating)
Reserves & Resources (rating)
Production value (est.)
825.63 mmboe/yr
5/5
8 187 mmboe 1P
5/5
$63.4B (70%)
USD 76.8 / bbl
Natural gas
Production (rating)
Reserves & Resources (rating)
Production value (est.)
3 081.33 bcf/yr
513.55 mmboe/yr
5/5
6 068 mmboe 1P
5/5
$9.1B (10%)
USD 2.95 / mcf
NGL
Production (rating)
Reserves & Resources (rating)
Production value (est.)
223.38 mmboe/yr
5/5
2 437 mmboe 1P
5/5
$8.9B (10%)
≈ $40 / bbl mixed-NGL netback
Bitumen
Production (rating)
Reserves & Resources (rating)
Production value (est.)
140.53 mmboe/yr
5/5
2 330 mmboe 1P
5/5
$7.0B (8%)
≈ $50 / bbl pre-upgrade
Synthetic crude
Production (rating)
Reserves & Resources (rating)
Production value (est.)
24.82 mmboe/yr
4/5
288 mmboe 1P
4/5
$2.0B (2%)
≈ $80 / bbl
Oil equivalent (BOE)
Production (rating)
Reserves & Resources (rating)
Production value (est.)
584 mmboe/yr
5/5
est. from projects
-
-
Portfolio Aggregate
Multiple effective dates · 1P
| Portfolio Aggregate | |||||
|---|---|---|---|---|---|
| Commodity | Production | Reserves & Resources | Production value (est.) | ||
|
|
Σ Portfolio · ExxonMobil Worldwide Upstream
|
Oil
|
825.63 mmboe/yr
|
8 187 mmboe 1P
|
$63.4B (70%)
USD 76.8 / bbl
|
|
|
|
Natural gas
|
513.55 mmboe/yr
|
6 068 mmboe 1P
|
$9.1B (10%)
USD 2.95 / mcf
|
|
|
|
NGL
|
223.38 mmboe/yr
|
2 437 mmboe 1P
|
$8.9B (10%)
≈ $40 / bbl mixed-NGL netback
|
|
|
|
Bitumen
|
140.53 mmboe/yr
|
2 330 mmboe 1P
|
$7.0B (8%)
≈ $50 / bbl pre-upgrade
|
|
|
|
Synthetic crude
|
24.82 mmboe/yr
|
288 mmboe 1P
|
$2.0B (2%)
≈ $80 / bbl
|
Σ Portfolio · ExxonMobil Worldwide Upstream
Commodity
Production
Reserves & Resources
Production value (est.)
Oil
825.63 mmboe/yr
8 187 mmboe 1P
$63.4B (70%)
USD 76.8 / bbl
Commodity
Production
Reserves & Resources
Production value (est.)
Natural gas
513.55 mmboe/yr
6 068 mmboe 1P
$9.1B (10%)
USD 2.95 / mcf
Commodity
Production
Reserves & Resources
Production value (est.)
NGL
223.38 mmboe/yr
2 437 mmboe 1P
$8.9B (10%)
≈ $40 / bbl mixed-NGL netback
Commodity
Production
Reserves & Resources
Production value (est.)
Bitumen
140.53 mmboe/yr
2 330 mmboe 1P
$7.0B (8%)
≈ $50 / bbl pre-upgrade
Commodity
Production
Reserves & Resources
Production value (est.)
Synthetic crude
24.82 mmboe/yr
288 mmboe 1P
$2.0B (2%)
≈ $80 / bbl
Portfolio Summary — Assumptions & Disclaimers
Assumptions
- Figures marked “est. from projects” are rolled up from individual project disclosures rather than taken from the issuer’s consolidated Portfolio Aggregate. Asset-level rows are summed together with district / segment rollup rows that hold disclosure their own listed assets do not; a rollup whose listed assets carry the figure themselves is excluded, so nothing is double-counted. These totals are estimates and may differ from an issuer-reported consolidated figure.
Portfolio Aggregate · Processing facilities
As at 31 December 2025
| Portfolio Aggregate | |||
|---|---|---|---|
| Commodity | Capacity | ||
|
|
Σ Portfolio · ExxonMobil Refining & Chemical Portfolio
|
Oil
|
4 113 mbbl/Per Day
Nameplate
|
Σ Portfolio · ExxonMobil Refining & Chemical Portfolio
Commodity
Capacity
Oil
4 113 mbbl/Per Day
Nameplate
Portfolio Aggregate · Processing facilities — Assumptions & Disclaimers
Assumptions
- Scope: company-wide processing / midstream rollups (refining, pipelines, fractionation, storage, LNG). They are split from the upstream Portfolio Aggregate so each table only shows columns it can populate.
- Capacity is the consolidated nameplate / contracted / licensed capacity from the project record, not period throughput. Production, reserves and production value are intentionally omitted — processing rollups carry no contained-volume × price economics in this model.
- When a Portfolio Aggregate row exists, individual facility rows are not summed into it — that would double-count.
Disclaimer
- Nameplate / licensed capacity is an engineering maximum; sustained utilisation may be lower because of maintenance, environmental limits, commercial contracts, weather or feedstock availability. Processing margins (refining crack spreads, fractionation spreads) are commodity-specific and may not be visible on this page.
Oil & Gas metrics · 21 projects
Multiple effective dates · 1P
| Project | |||||||
|---|---|---|---|---|---|---|---|
| Location | Status | Commodity | Production (rating) | Reserves & Resources (rating) | Estimated Lifetime | ||
|
|
Africa Upstream
|
🌍 Global
|
Operating
|
Oil
|
51.47 mmboe/yr
4/5
|
217 mmboe 1P
4/5
|
reserves 4.2 yrs
|
|
|
|
|
|
Natural gas
|
0.12 mmboe/yr
1/5
|
18.83 mmboe 1P
2/5
|
reserves 25+ yrs
|
|
|
|
|
|
NGL
|
0.73 mmboe/yr
3/5
|
-
|
-
|
|
|
Angola Deepwater Blocks (incl. Block 15)
|
🇦🇴 Angola
Offshore Angola
|
Operating
|
-
|
-
|
-
|
-
|
|
|
Asia Upstream
|
🌍 Global
|
Operating
|
Oil
|
162.43 mmboe/yr
5/5
|
2 960 mmboe 1P
5/5
|
reserves 18.2 yrs
|
|
|
|
|
|
Natural gas
|
58.89 mmboe/yr
5/5
|
366.5 mmboe 1P
4/5
|
reserves 6.2 yrs
|
|
|
|
|
|
NGL
|
10.22 mmboe/yr
5/5
|
67 mmboe 1P
4/5
|
reserves 6.6 yrs
|
|
|
Australia/Oceania Upstream
|
🌍 Global
|
Operating
|
Natural gas
|
78.05 mmboe/yr
5/5
|
951.67 mmboe 1P
4/5
|
reserves 12.2 yrs
|
|
|
|
|
|
Oil
|
6.57 mmboe/yr
3/5
|
60 mmboe 1P
3/5
|
reserves 9.1 yrs
|
|
|
|
|
|
NGL
|
2.56 mmboe/yr
4/5
|
8 mmboe 1P
2/5
|
reserves 3.1 yrs
|
|
|
Bacalhau
|
🇧🇷 Brazil
Offshore Brazil
|
Operating
|
-
|
-
|
-
|
-
|
|
|
Canada/Other Americas Upstream
|
🌍 Global
|
Operating
|
Oil
|
139.06 mmboe/yr
5/5
|
1 195 mmboe 1P
5/5
|
reserves 8.6 yrs
|
|
|
|
|
|
Bitumen
|
140.53 mmboe/yr
5/5
|
2 330 mmboe 1P
5/5
|
reserves 16.6 yrs
|
|
|
|
|
|
Synthetic crude
|
24.82 mmboe/yr
4/5
|
288 mmboe 1P
4/5
|
reserves 11.6 yrs
|
|
|
|
|
|
Natural gas
|
1.64 mmboe/yr
2/5
|
87.83 mmboe 1P
3/5
|
reserves 25+ yrs
|
|
|
|
|
|
NGL
|
0.36 mmboe/yr
2/5
|
1 mmboe 1P
1/5
|
reserves 2.7 yrs
|
|
|
Coral South FLNG
Ownership 25.0% WI
|
🇲🇿 Mozambique
Offshore Mozambique (Area 4)
|
Operating
|
-
|
-
|
-
|
-
|
|
|
Europe Upstream
|
🌍 Global
|
Operating
|
Natural gas
|
13.87 mmboe/yr
4/5
|
56.33 mmboe 1P
2/5
|
reserves 4.1 yrs
|
|
|
|
|
|
Oil
|
0.73 mmboe/yr
2/5
|
3 mmboe 1P
1/5
|
reserves 4.1 yrs
|
|
|
|
|
|
NGL
|
-
|
-
|
-
|
|
|
Gorgon-Jansz LNG
|
🇦🇺 Australia
Western Australia
|
Operating
|
-
|
-
|
-
|
-
|
|
|
Kashagan
Ownership 16.8% WI
|
🇰🇿 Kazakhstan
Caspian Sea (Atyrau)
|
Operating
|
-
|
-
|
-
|
-
|
|
|
Kearl
Ownership 71.0% WI
|
🇨🇦 Canada
Alberta
|
Operating
|
Bitumen
|
96.36 mmboe/yr
5/5
|
-
|
-
|
|
|
Nigeria Deepwater Blocks
|
🇳🇬 Nigeria
Offshore Nigeria
|
Operating
|
-
|
-
|
-
|
-
|
|
|
PNG LNG
Ownership 33.0% WI
|
🇵🇬 Papua New Guinea
Papua New Guinea
|
Operating
|
-
|
-
|
-
|
-
|
|
|
Permian Basin
|