Exxon Mobil Corporation · NYSE:XOM
Exxon Mobil — Investor Day (March 2012)
111 slides from Exxon Mobil's investor day presentation, Mar 14, 2012
Slide 1: 2012 Analyst Meeting
2012 Analyst Meeting March 8, 2012 Exhibit 99.2 New York Stock Exchange
Slide 2: Forward-Looking Statements
Forward-Looking Statements. Outlooks, projections, estimates, targets, business plans, and other statements of fut events or conditionsin this presentation or the subsequent discussion petiod areforward looking statements. Actual futureresults, Including financial and operating performance; demand g
Slide 3: Agenda
Agenda 9 AM Welcome David Rosenthal, Vice President, Investor Relations Business Overview Financial & Operating Results Rex Tillerson, Chairman and CEO Competitive Advantages BREAK Mark Albers, Senior Vice President Andy Swiger, Senior Vice President Outlook Summary Q&A 12 PM Meeting Concludes Rex T
Slide 4: Business Overview
Business Overview Chairman and CEO Rex Tillerson
Slide 5: Business Environment
Business Environment Global environment offers a broad mix of challenges and opportunities Near-term slowdown in global recovery with rising economic risks Developing economies show signs of slowing but still outpace OECD economies Significant regulatory initiatives continue while climate policies r
Slide 6: Energy Demand to 2040
Energy Demand to 2040 Global energy demand likely to grow approximately 30% by 2040 Energy Demand Quadrillion BTUs Oil Gas Coal Other* Annual Growth Rate to 2040 1.6% -0.2% 1.7% 0.7% Pace of demand growth moderated by efficiency gains across the world Mix gradually shifts with oil and natural gas re
Slide 7: Developing Economies Lead Growth
Developing Economies Lead Growth Oil Gas Other Energy Demand: OECD Countries* Quadrillion BTUs Non-OECD Countries Coal Asia Pacific demand growth accounts for nearly 60% of global increase Source: ExxonMobil 2012 Outlook for Energy * OECD: Organization for Economic Co-operation and Development
Slide 8: Liquids and Gas Supplies Expand and Diversify
Liquids and Gas Supplies Expand and Diversify Conventional Conventional Crude & Condensate Deepwater Natural Gas Liquids Technology continues to expand economic supplies Natural Gas GCFD Unconventional Liquids MOEBD Biofuels Unconventional Source: ExxonMobil 2012 Outlook for Energy
Slide 9: Global Downstream Demand
Global Downstream Demand OECD Countries Non-OECD Countries Transportation energy demand increases nearly 45% percent by 2040 Developing countries driving growth, especially Asia Pacific OECD demand is flat New capacity, alternative fuels, and efficiency gains required Transportation Energy Demand MO
Slide 10: Transportation Product Mix
Transportation Product Mix Gasoline Diesel Heavy duty transportation leads demand growth Source: ExxonMobil 2012 Outlook for Energy * Excludes other petroleum products (e.g., heating oil, fuel oil, LPG, kerosene, jet fuel, naphtha). Petroleum Product Demand* MOEBD Significant shift in product mix Di
Slide 11: Global Lubricants Demand
Global Lubricants Demand OECD Countries Non-OECD Countries Demand expected to be nearly 20 percent higher in 2020 versus 2000 Demand growth of 1 percent per year, driven by Asia Pacific Global synthetics demand growing 6 percent per year OECD demand flat but significant growth within synthetics sect
Slide 12: Global Chemical Demand
Global Chemical Demand Chemical demand growth driven by Asia Pacific Demand growth above GDP as standards of living improve Two-thirds of growth in Asia Pacific Growth driven by preferred material attributes Demand and Global GDP* Year-on-Year Percent Change Demand Growth Global GDP Sources: ExxonMo
Slide 13: The Energy Challenge
The Energy Challenge Meeting the world’s growing energy needs safely and responsibly Requires broad-based economic solutions Demands a commitment to innovation and technology Calls for unprecedented levels of investment and diversity of supply Requires sound, stable government policies Demands effec
Slide 14: Risk Management
Risk Management Risk management is fundamental to our business Well-developed and clearly-defined policies and procedures Management accountability High standards of design Employee and contractor training Rigorously applied management systems
Slide 15: Operations Integrity Management System
Operations Integrity Management System Disciplined framework for the management of risk Common global expectations Integrated into daily operations - it’s how we operate Provides framework to meet or exceed regulations Ongoing assessments and incorporation of learnings
Slide 16: Financial and Operating Results
Financial and Operating Results Chairman and CEO Rex Tillerson
Slide 17: 2011 Financial and Operating Results
2011 Financial and Operating Results Strong results across all key measures and business lines Relentless Focus on Operational Excellence Strong Financial and Operating Results Disciplined Investments Focused on Long-Term Value Unmatched Shareholder Distributions
Slide 18: Safety
Safety Relentless Focus on Operational Excellence Safety performance remains strong in industry Our vision: Nobody Gets Hurt Focus on operational excellence and risk management XTO implementing proven safety management systems Committed to continuously improving safety performance * 2011 industry da
Slide 19: Environmental Performance
Environmental Performance Relentless Focus on Operational Excellence Committed to reducing environmental impact * XTO included beginning 2011. Hydrocarbon Flaring from Upstream Oil & Gas Production Million Metric Tons '07 '08 '09 '10 '11* Strong environmental management Improving energy efficiency R
Slide 20: Earnings
Earnings Strong Financial and Operating Results Earnings of $41B in 2011, an increase of 35 percent over 2010 Strong performance across all business lines Leveraging integration advantages Maximizing value of asset base Upstream Downstream Chemical Total Earnings '07 '08 '09 '10 '11 $B Earnings Excl
Slide 21: Upstream Earnings per Barrel
Upstream Earnings per Barrel Strong Financial and Operating Results Upstream portfolio continues to deliver strong earnings per barrel Balanced portfolio well-positioned throughout business cycle Disciplined approach to cost management Relentless focus on maximizing value of each asset '07 '08 '09 '
Slide 22: Upstream Volumes Growth
Upstream Volumes Growth Strong Financial and Operating Results CVX RDS BP Project ramp-ups and strong unconventional performance drive growth -12 -10 -8 -6 -4 -2 2011 Volume Growth Percent XOM 1 percent growth from 2010 Supported by risk management and operational excellence Largest non -government-
Slide 23: Reserves Replacement
Reserves Replacement Strong Financial and Operating Results Replaced 116 percent of 2011 production Additions exceeded production for the 18 th consecutive year Proved reserves increased to 24.9 BOEB Proved Reserves Replacement* Percent * Reserves replacement based on SEC pricing bases and excluding
Slide 24: Return on Capital Employed
Return on Capital Employed Strong Financial and Operating Results Return on Average Capital Employed* Percent ’07 – ’11, average * Competitor data estimated on a consistent basis with ExxonMobil and based on public information. XOM CVX BP RDS ROCE leadership supported by consistent business model RO
Slide 25: Capital Management
Capital Management Strong Financial and Operating Results Cumulative Proceeds Associated with Asset Sales; – $B Ongoing portfolio management fundamental to business model Targeted divestments across all business lines Retained assets which hold longer- term shareholder value Active asset divestments
Slide 26: 2011 Cash Flow
2011 Cash Flow Strong Financial and Operating Results Strong cash flow, up nearly 30 percent from 2010 Year-end cash balance over $13B Funded all attractive investment opportunities Continued to pay growing dividend * Represents cash flow from operations and asset sales of $66.5 billion, including $
Slide 27: Free Cash Flow Generation
Free Cash Flow Generation Strong Financial and Operating Results Cash generation unmatched among peers Total free cash flow generation of $146B since beginning of 2007 Higher than competitors combined Strong cash generation provides capacity for shareholder distributions * Competitor data estimated
Slide 28: Capex
Capex Disciplined Investments Focused on Long-Term Value Capex by Business Line $B Invested $143B during the past five years Executed strategic acquisitions Progressing major projects Maintained capital efficiency and discipline Maintained focus on selective investments to deliver superior returns '
Slide 29: Distribution Yield
Distribution Yield Unmatched Shareholder Distributions Total distribution yield of 34 percent since beginning of 2007 Average distribution yield of 7.3 percent versus competitor average of 5.1 percent * Yield based on 2006 year-end market capitalization. ** RDS, BP, and CVX. Total Distribution Yield
Slide 30: Dividends
Dividends Unmatched Shareholder Distributions * S&P and CPI indexed to 1983 Exxon dividend. ** CPI based on historical yearly average from Bureau of Labor Statistics. Dividend Growth since 1983* $ per share XOM S&P 500 CPI** ’83 ’11 ’01 ’91 0.00 0.50 1.00 1.50 2.00 2.50 Reliable and growing dividend
Slide 31: Share Reductions
Share Reductions Unmatched Shareholder Distributions Share purchases efficiently return cash to shareholders $20B in shares purchases in 2011 Over 30 percent reduction in shares outstanding since Exxon and Mobil merger Expect number of shares issued for XTO to be repurchased by end of 1Q12 Shares Ou
Slide 32: Increasing Ownership
Increasing Ownership Unmatched Shareholder Distributions * Competitor data estimated on a consistent basis with ExxonMobil and based on public information. ** Reserves based on SEC pricing bases, including oil sands and equity companies. competitor data not yet available. Production Growth per Share
Slide 33: 2011 Financial and Operating Results
2011 Financial and Operating Results Strong results across all key measures and business lines Relentless Focus on Operational Excellence Strong Financial and Operating Results Disciplined Investments Focused on Long-Term Value Unmatched Shareholder Distributions
Slide 34: Competitive Advantages
Competitive Advantages Chairman and CEO Rex Tillerson
Slide 35: Competitive Advantages
Competitive Advantages ExxonMobil possesses unique competitive advantages Balanced Portfolio Disciplined Investing High-Impact Technologies Operational Excellence Global Integration
Slide 36: Competitive Advantages
Competitive Advantages ExxonMobil possesses unique competitive advantages Balanced Portfolio Disciplined Investing High-Impact Technologies Operational Excellence Global Integration
Slide 37: 2011 Resource Base
2011 Resource Base Balanced Portfolio Upstream Australia/Oceania Liquids Gas Arctic Conventional Heavy Oil / Oil Sands Deepwater LNG Diverse resource base of over 87 billion oil-equivalent barrels Africa Asia Americas Europe Geography Liquids / Gas Resource Base (BOEB) Type Unconventional Oil and Ga
Slide 38: Resource Base Growth
Resource Base Growth Upstream Balanced Portfolio Consistently adding quality resources at attractive finding costs * Excludes XTO acquisition and the proved portion of discovered undeveloped additions. ** Sources: Chevron Analyst Presentation (3/11), BP Strategy Presentation (3/10), Shell Strategy U
Slide 39: Global Liquids Position
Global Liquids Position Upstream LNG/Unconv Heavy Oil / Oil Sands Conventional Deepwater Arctic Normal Depletion Long- Plateau Balanced Portfolio Robust liquids portfolio of quality operations and advantaged projects 12.2 BOEB proved liquid reserves Strong growth potential Significant long-plateau v
Slide 40: Global Gas Position
Global Gas Position Upstream LNG Shale Gas Conventional Arctic Middle East Balanced Portfolio Gas portfolio diverse in resource type, markets, and contract structures 76 TCF proved gas reserves Large, diverse resource base Leading unconventional position with significant growth potential Deep- water
Slide 41: Production and Contract Mix
Production and Contract Mix Upstream Gas Oil Gas Oil Oil Gas Indexed Oil Gas Indexed Balanced Portfolio Significant portion of production linked to oil pricing Production Mix MOEBD 2015 Estimated Oil Indexed Oil Indexed Contract Mix MOEBD 2015 Estimated
Slide 42: New Opportunity Growth
New Opportunity Growth Upstream Balanced Portfolio Growing global portfolio of high-quality resource opportunities Horn River Alberta Tight Oil Athabasca Beaufort Summit Creek Gulf of Mexico Guyana Permian Basin Rockies Woodford Utica Colombia Marcellus Kara Sea Vietnam Indonesia Russian Black Sea N
Slide 43: Scale Advantage
Scale Advantage Downstream Balanced Portfolio Largest global refiner with the highest level of integration Average Refinery Size* KBD Refineries 60 percent larger than industry average Leveraging scale to improve profitability * ExxonMobil average global refinery capacity compared to industry equity
Slide 44: Lubricants Leadership Position
Lubricants Leadership Position Downstream Balanced Portfolio Largest basestock manufacturer and leading marketer of synthetics Global synthetics demand growing 6 percent per year Industry leadership in basestocks and synthetic lubricants Well-positioned to capture growth Market Position Percent shar
Slide 45: World-Class Brands
World-Class Brands Downstream Balanced Portfolio A leading marketer of high-quality products with trusted brands Global reach Diverse sales channels Global brands trusted for product quality and supply reliability Global Fuels Marketing Sales Aviation Marine Retail Industrial and Wholesale Percent,
Slide 46: Balanced Portfolio Maximizes Value
Balanced Portfolio Maximizes Value Chemical Balanced Portfolio Facilities strategically located, supplying all major growth regions Commodities provide scale and upside earnings capture Specialties generate stable yet growing earnings base Proprietary technology underpins portfolio Earnings $B Commo
Slide 47: Competitive Advantages
Competitive Advantages ExxonMobil possesses unique competitive advantages Balanced Portfolio Disciplined Investing High-Impact Technologies Operational Excellence Global Integration
Slide 48: Project Inventory
Project Inventory Disciplined Investing Upstream 9% 13% 14% 36% 7% 6% Extensive portfolio supports selective investment decisions Portfolio of 120+ projects Developing 23 net BOEB across all regions and resource types Industry-leading project management High-impact technology Investment selectivity
Slide 49: Near-Term Project Start-Ups
Near-Term Project Start-Ups Upstream Disciplined Investing 21 major project start-ups are planned between 2012 and 2014 Acid / Sour Kashagan Phase 1 Oil Sands Kearl Nigeria Satellites LNG Papua New Guinea Arctic Arkutun-Dagi Deepwater Angola Satellites Deepwater GOM Hadrian South / Lucius Convention
Slide 50: Major Project Production Outlook
Major Project Production Outlook Upstream Usan Kearl Banyu Urip AB17 Pazflor West Qurna I Upper Zakum 750 Kashagan Phase 1 Syncrude Aurora North Kizomba Satellites Phase 1 Disciplined Investing Significant new production supports long-term volumes Over 1 MOEBD added by 2016 80 percent liquids volume
Slide 51: Selective Investments
Selective Investments Downstream Disciplined Investing Increasing high-value diesel production for growing markets Global diesel demand expected to rise by 85 percent through 2040 Recent investments contributed to record ULSD production in 2011 Progressing additional investments to supply more lower
Slide 52: Portfolio Management
Portfolio Management Downstream Disciplined Investing Global Asset Sales (2003 - 2011) Refineries Pipeline Miles 5.9k Terminals Countries Exited Retail Stations 16.8k Ongoing portfolio management delivers value
Slide 53: Effects from Portfolio Highgrading
Effects from Portfolio Highgrading Disciplined Investing Downstream -23% +5% Improved capital efficiency Divestments reduced capital employed more than 20 percent since Relatively low impact to earnings Disciplined and ongoing approach to capital management Impact of Divestments / Restructuring Perc
Slide 54: Singapore Expansion
Singapore Expansion Chemical Disciplined Investing Establishing world-class integrated platform to support Asia growth Two-thirds of chemical growth from Asia Pacific Once complete, largest refining- chemical complex in our circuit 2.6 million tonnes of new capacity 98 percent mechanically complete
Slide 55: Competitive Advantages
Competitive Advantages ExxonMobil possesses unique competitive advantages Balanced Portfolio Disciplined Investing High-Impact Technologies Operational Excellence Global Integration
Slide 56: Technology Leadership
Technology Leadership Metallurgy solutions for challenging arctic conditions Feed flexibility advantage through molecule management Corporate High-Impact Technologies Developing fundamental science to meet the world’s energy challenges Corporate Strategic Research Unique, world-class scientific rese
Slide 57: Research and Development
Research and Development Upstream High-Impact Technologies Progressing breakthrough research to develop high-reward, risk reduction technologies across the Upstream business Imaging Shale Gas / Tight Oil Stimulation Extended Reach Drilling Exploration Development Production
Slide 58: Extended Reach Drilling
Extended Reach Drilling Upstream High-Impact Technologies Developing and applying integrated technologies to unlock greater value Horizontal Displacement 1980’s 1990’s 2000’s Canada California Sakhalin Drilled 23 of 27 longest-reach wells Integrated suite of technologies from modeling to wellbore pl
Slide 59: Margin Improvement
Margin Improvement Downstream High-Impact Technologies Advantaged technologies enable our ability to improve margins Lower raw materials costs Expanded feed flexibility Increased refining utilization Higher product realizations “Discounted” Crudes* Percent, indexed ExxonMobil Industry Average Source
Slide 60: Feedstock Flexibility
Feedstock Flexibility Chemical High-Impact Technologies Significant flexibility to process advantaged feedstocks Facilities configured to run wide range of feedstock Access to range of feeds to capitalize on lowest-cost options Proprietary molecule management technologies maximize value Worldwide Fe
Slide 61: Higher-Value Products
Higher-Value Products Downstream / Chemical High-Impact Technologies Advantaged technologies improve our products Industry-leading synthetic lubes Higher-quality fuel products Premium chemical products
Slide 62: Competitive Advantages
Competitive Advantages ExxonMobil possesses unique competitive advantages Balanced Portfolio Disciplined Investing High-Impact Technologies Operational Excellence Global Integration
Slide 63: People
People Operational Excellence Corporate Operational excellence begins with exceptional employees Culture of excellence Tailored, world-class training Diverse, global work experiences Host country workforce development
Slide 64: Reliability and Cost Management
Reliability and Cost Management Upstream Operational Excellence Best practices deliver strong reliability and life-cycle cost performance Strong reliability performance Operated uptime >3 percent higher than assets operated-by-others over the last five years - Maintaining integrity of facilities Dis
Slide 65: Project Execution
Project Execution Upstream Operational Excellence Proven execution performance and delivery of complex projects Rigorous project management Superior cost and schedule delivery Maximize efficiencies Reappraisal to continuously improve project performance * Actual versus funded cost variance (%); ’ 07
Slide 66: Cost Management
Cost Management Upstream Operational Excellence Disciplined and consistent approach to cost management Continual effort to maximize the value of each asset Mature contracting strategies Ongoing portfolio management * Upstream technical costs using 10-K/20-F information; beginning in 2009 equity comp
Slide 67: Angola and Sakhalin Developments
Angola and Sakhalin Developments Upstream Operational Excellence Delivering significant life-cycle value from frontier developments Enabling frontier developments with differentiating technologies Delivering operational excellence Over 1.7 billion barrels produced Over 95 percent uptime Rapidly nati
Slide 68: Improving Productivity
Improving Productivity Downstream Operational Excellence Focus on optimizing productivity delivers competitive advantage Ongoing consolidation activities Integrated marketing company announced in 2011 Streamlined product offering Global organization, systems, and processes driving lower operating ex
Slide 69: Operating Efficiency
Operating Efficiency Downstream / Chemical Operational Excellence Sustaining high levels of operating efficiency Refining and Chemical expanding energy efficiency advantage Globally shared best practices Advanced technologies Targeted investments Refining Energy Intensity* Indexed ExxonMobil Industr
Slide 70: Higher Operating Rates
Higher Operating Rates Chemical Operational Excellence Technology enables higher capacity utilization Reliability focus Feedstock flexibility expands range of economic operation Fast-growing and high-value derivatives Global Steam Cracker Capacity Utilization 2007 – 2011 Average Percent ExxonMobil S
Slide 71: Competitive Advantages
Competitive Advantages ExxonMobil possesses unique competitive advantages Balanced Portfolio Disciplined Investing High-Impact Technologies Operational Excellence Global Integration
Slide 72: Maximizing Value through Integration
Maximizing Value through Integration Global Integration Corporate Maximize value from Upstream resource through to finished products Leverage global functional organization Broadly deploy best practices Economies of scale, shared support services, purchasing Maximize technology potential Continuing
Slide 73: Marketing New Crudes
Marketing New Crudes Upstream / Downstream Global Integration Early integration across the supply chain enhances resource value Upstream leveraging Downstream to optimize equity crude value Consistent integrated approach Molecular assays Crude valuation Technical readiness Refining capability and pl
Slide 74: Integrated Manufacturing
Integrated Manufacturing Downstream / Chemical Global Integration ExxonMobil has integration advantages that are difficult to replicate Higher-value products Integrated molecular optimization Assets with unparalleled feed flexibility Common site management, utilities, and infrastructure Refining Int
Slide 75: Industry-Leading Results
Industry-Leading Results Downstream / Chemical Global Integration Proven business strategies enabled by technology Businesses optimized together to maximize shareholder value 2008 – 2011 average annual results: Earnings of $8 billion 19 percent ROCE; nearly three times the competitor average * Compe
Slide 76: Competitive Advantages
Competitive Advantages ExxonMobil possesses unique competitive advantages Balanced Portfolio Disciplined Investing High-Impact Technologies Operational Excellence Global Integration
Slide 77: Unlocking Greater Value in the Upstream
Unlocking Greater Value in the Upstream Senior Vice President Mark Albers Senior Vice President Andy Swiger
Slide 78: Upstream
Upstream Consistent execution of our strategies, underpinned by a relentless focus on operational excellence, drives delivery of superior results High-quality resources captured at attractive costs Effective partnerships Distinguishing technologies Proven project execution Operational excellence
Slide 79: Meeting the Energy Challenge
Meeting the Energy Challenge Arctic Acid / Sour Diverse and material portfolio across resource types of growing importance in meeting global energy demand 2011 ExxonMobil Resource Base Unconventional Oil and Gas Conventional Heavy Oil / Oil Sands Deepwater Liquefied Natural Gas BOEB * Source: ExxonM
Slide 80: Conventional
Conventional Delivering significant value from conventional resources Note: Conventional includes arctic and acid/sour resource types
Slide 81: Banyu Urip, Indonesia
Banyu Urip, Indonesia Conventional Central Processing Facilities Floating Storage & Offloading Vessel Significant onshore oil development progressing on schedule 450 MB oil resource Early production of 20 KBD 165 KBD full field capacity 5 Full Field EPC contracts awarded Anticipated start-up in 2014
Slide 82: Sakhalin and Hebron
Sakhalin and Hebron Arctic Applying proven arctic capabilities to progress additional developments Odoptu holds world record for extended reach well Arkutun-Dagi fabrication in progress and on schedule for 2014 start-up Initial engineering under way Sakhalin Hebron
Slide 83: Russia Arctic
Russia Arctic Extending capabilities to significant new arctic acreage position Entered into Strategic Cooperation Agreement with Rosneft Kara Sea – 31 million acres Extension of prolific West Siberia hydrocarbon province Progressing definitive agreements Pursuing fiscal improvements Commencing expl
Slide 84: Technology
Technology Arctic Continuing to advance new technology solutions for arctic resources 90 years of arctic technology development Progressing next-generation technologies Advanced arctic characterization Ice management systems Floating drilling Gravity-based structures Laboratory Ice Management Trials
Slide 85: Deepwater
Deepwater Building on established deepwater capability Innovative design approaches Early Production Systems “Design One, Build Multiple” Progressing exploration activities West and East Africa Black Sea Gulf of Mexico Cost-effective subsea satellite field development Exploration Major Projects Prod
Slide 86: Gulf of Mexico
Gulf of Mexico Deepwater Progressing development of discoveries in the Gulf of Mexico Large, high-quality acreage position Significant discoveries at Hadrian and Lucius Progressing developments Lucius / Hadrian South funded Hadrian North FEED under way Julia Phase 1 FEED under way Maturing prospect
Slide 87: Liquefied Natural Gas
Liquefied Natural Gas ExxonMobil has leading global liquefied natural gas capability ExxonMobil Participation Industry LNG Project LNG Development Costs* $/OEB (2012$) * Source: Wood Mackenzie
Slide 88: Papua New Guinea Liquefied Natural Gas
Papua New Guinea Liquefied Natural Gas Extending global LNG experience and project execution capabilities High-quality 9 TCF resource Two-train 6.6 MTA LNG plant Progressing on schedule Anticipate start-up in 2014 Active exploration program
Slide 89: Unconventional Resources
Unconventional Resources Unconventional resource base doubled since 2005 Accounts for over 40 percent of total resource base Gas growth balanced by strong position in heavy oil / oil sands Deep inventory of attractive opportunities Unconventional Resource Base BOEB* Unconventional Oil and Gas Heavy
Slide 90: North America Unconventional Resources
North America Unconventional Resources Material position in unconventional resource plays across N. America
Slide 91: Oil Sands
Oil Sands High-quality oil sands resource underpins long-term resource value Kearl Firebag Ratio of material moved to bitumen in-place Oil Sands Mining Resource Quality Significant acreage position Among the highest quality Growth area, material, long-plateau production
Slide 92: Kearl Oil Sands Expansion
Kearl Oil Sands Expansion Initial Development High-quality resource and enabling technologies deliver long-term value Long-term plateau production profile On schedule to commence operations year-end 2012 Expansion Project fully funded with start-up year-end 2015 Proprietary technology Attractive ret
Slide 93: Technology
Technology Oil Sands Emerging new technologies to further unlock oil sands value Paraffinic Froth Treatment Eliminates need for on-site upgrader Reduces GHG emissions and cost Wet Tailings Lowers tailings handling costs Non-Aqueous Extraction Significantly reduces water use Avoids new wet tailings p
Slide 94: North America Gas
North America Gas Conventional Unconventional Oil and Gas Technology unlocking new supplies Significant unconventional growth to offset conventional decline About 70 percent of North America demand is met by unconventional production by 2030 Source: ExxonMobil 2012 Outlook for Energy Local Productio
Slide 95: Unconventional Capability
Unconventional Capability Unconventional Oil and Gas XTO established the foundation of our global unconventional capability Key enabler to unlocking global unconventional resource value XTO managing 82 TCFE at year-end Adding quality acquisitions at attractive costs 15 TCFE at $0.23/KCFE Leveraging
Slide 96: Liquids-Rich Plays
Liquids-Rich Plays Unconventional Oil and Gas Gas Liquids Legacy tight oil positions in the Bakken and Permian Expanding Woodford Ardmore play Over 170K net acres; 9 operated rigs Develop ~600 MOEB at <$10/OEB Growing portfolio of emerging plays including Cardium in Canada Woodford Ardmore Developme
Slide 97: Operational Excellence
Operational Excellence Unconventional Oil and Gas Mature play learnings being applied to new plays Continue to extract value even as wells have become more complex to drill Systematic approach Apply approach to global portfolio Drilling Days Evolution Percent Improvement Time (years) Operational eff
Slide 98: Technology
Technology Unconventional Oil and Gas Enhanced perforating and stimulation technologies Reduce completion costs Improve recovery Enable water reuse New technologies are further enhancing unconventional value
Slide 99: Global Portfolio
Global Portfolio Unconventional Resources Growing global portfolio with early-mover, quality acreage pursuits Indonesia China Canada USA Europe Play Type Colombia Argentina Shale Gas Tight Gas Coal Bed Methane Tight / Shale Oil Heavy Oil / Oil Sands
Slide 100: Argentina
Argentina Unconventional Resources ExxonMobil Current Drilling Industry Vaca Muerta Exploration Well Material position in the Vaca Muerta play of the Neuquén Basin Drilling commenced to evaluate liquids and gas potential Leveraging ExxonMobil unconventional capabilities globally Commencing explorati
Slide 101: Unlocking Greater Value
Unlocking Greater Value Arctic Acid / Sour Superior value creation relies on high-quality resources, growth markets, enabling technologies, and growing organizational capability High-quality resources captured at attractive costs Effective partnerships Distinguishing technologies Proven project exec
Slide 102: Outlook
Outlook Chairman and CEO Rex Tillerson
Slide 103: Investment Plan
Investment Plan Committed to investing through the business cycle Capex by Business Line $B Upstream Downstream Chemical / Other Estimate ~$37B/yr Disciplined, resilient investments Progressing large inventory of high-quality projects Expect to invest approximately $37 billion per year 2012 – '10 '1
Slide 104: Upstream Production Outlook
Upstream Production Outlook Production in line with long-term growth estimates 2011 Production MOEBD * Excludes impact of future divestments and OPEC quota effects. ** 2011 Outlook as communicated in 2011 Analyst Meeting. 2009 to 2014 Growth Projections* Percent Growth 4.0 4.3 4.6 Analyst Meeting Ou
Slide 105: Upstream Production Outlook
Upstream Production Outlook Project Volumes Production driven by strong performance, quality projects and resources * Excludes impact of future divestments and OPEC quota effects. Total Production Outlook* MOEBD Base Production '10 '11 '12 '13 '14 '15 '16 Projections based on 2011 average prices ($1
Slide 106: Upstream Production Outlook
Upstream Production Outlook Liquids Gas Balanced portfolio with strong contributions from liquids and gas Projections based on 2011 average prices ($111/B Brent) Major projects and strong work program drive growth Liquids: 2 to 3 percent per year Gas: 0.5 to 1 percent per year Growing contribution o
Slide 107: Summary
Summary Chairman and CEO Rex Tillerson
Slide 108: Share Performance
Share Performance Long-term performance exceeds competitor average and S&P 500 Financial results and stock market returns best viewed over long term Reflects strong financial and operating performance Competitive advantages maximize shareholder value * RDS, BP, and CVX Shareholder Returns Value of $
Slide 109: Slide 109
Slide 110: Meeting the World's Energy Challenges
Meeting the World’s Energy Challenges Expanded supply of traditional fuels Meeting Asia Pacific demand growth Technology advances Unprecedented levels of investment Development of new sources of energy Expanded supply of traditional fuels • Large, diverse resource base • Strong LNG portfolio • Strat
Slide 111: ExxonMobil Strengths
ExxonMobil Strengths Relentless focus on maximizing long-term shareholder value Strong Financial and Operating Performance Balanced Portfolio Disciplined Investing High-Impact Technologies Operational Excellence Global Integration