LNG

ExxonMobil Corp., the largest US oil company and leading LNG producer as a partner of Qatar, agreed to acquire Texas-based Pioneer Natural Resources for $59.5 billion and with an enterprise value of $64.5Bln in the largest acquisition since the historic tie-up between Exxon and Mobil in 1999.

Feb 27 (LNG) - ExxonMobil Corp., one of the main global LNG producers with stakes in multiple Trains in Qatar and elsewhere, said it added 4.5 billion oil-equivalent barrels of proved oil and gas reserves in 2018, replacing 313 percent of the year’s production. ExxonMobil's proved reserves totaled 24.3 billion oil-equivalent barrels at year-end 2018. Liquids represented 64 percent of the reserves, up from 57 percent in 2017.

   “We continue to add high-value, attractive assets to our portfolio that have positioned the company for long-term growth,” said Darren W. Woods, ExxonMobil chairman and Chief Executive officer.

   ExxonMobil is strengthening its position in the US onshore shale basins while developing the Golden Pass LNG plant in Texas with Qatargas. “Proved additions from unconventional plays totaled approximately 1.2 billion oil-equivalent barrels. Significant additions in the Permian Basin are supported by ExxonMobil’s growth plan including increased drilling activity and infrastructure development,” it stated.