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2011 Analyst Meeting
March 9, 2011New York Stock Exchange
2011 Analyst Meeting
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9 AM Welcome David RosenthalVice President, Investor Relations
Business Overview Rex TillersonChairman and CEO
Financial and Operating Results
Competitive Advantages
Global Exploration & Mark Albers
Upstream Projects Senior Vice President
Unconventional Portfolio Andy SwigerSenior Vice President
Summary Rex TillersonChairman and CEO
Break
Q&A
12 PM Meeting Concludes
Agenda
Agenda
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Rex TillersonChairman and CEO
Business Overview
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Business Environment
Stabilizing global economy with modest growth in the U.S. and Europe
Stronger economic growth in developing world, especially Asia Pacific region
Increasing regulation and oversight; climate change policies uncertain
Some competitors re-evaluating business model and plans
Long-term forecasts for energy and petrochemical demand remain robust
ExxonMobil is well-positioned for the challenges and opportunities in theglobal business environment.
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Energy DemandQuadrillion BTUs
0
50
100
150
200
250
300
Oil Gas Coal Other*
'05'30 '30
Average Annual Growth2005 -- 2030
2.0%
0.7%
1.2%
1.8%
* Other includes nuclear, hydro, geothermal, biomass, wind, solar, and biofuels.
'30'05 '30'05'30'05 '30'05'30'05 '30'05'30'05 '30'05
TotalEnergyGrowth
AnnualEnergySavings
0.7%
Global Energy Demand to 2030
Oil, gas, and coal continue toprovide about 80 percent of worldenergy
Strong growth in natural gas Driven by power generation
Energy savings in 2030 about
twice the growth in projectedenergy use
Energy demand is expected to grow about 35 percent by 2030 led byeconomic progress in developing nations even with large efficiency gains.
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BCFDUnited States
Local Production
Unconventional
BCFDEurope Asia PacificBCFD
Conventional
Pipeline
0
20
40
60
80
100
120
2000 2015 2030
Local Production
Unconventional
LNG
Conventional
Pipeline
0
20
40
60
80
100
120
2000 2015 2030
0
25
50
75
100
125
2000 2015 2030
Regional Gas Supply and Demand
Strong growth in global gas demand led by Asia Pacific, met with expandingsupplies of LNG and unconventional gas.
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0
10
20
30
40
50
60
'05 '10 '15 '20 '25 '30
Transportation Energy DemandMOEBD
OECD*
Non-OECD
Global Downstream Demand
Long-term transportation energy demand likely to increase almost 40 percentbetween 2005 and 2030.
Long-term growth driven bydoubling of demand in developingcountries
New capacity impacting supply /demand balances
Significant regulatory pressures
continue
* OECD Organization for Economic Co-operation and Development.
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-3
0
3
6
9
12
'95 '00 '05 '10 '15
Commodities Demand and Global GDP*Year-on-Year Percent Change
* ExxonMobil estimates; Chemical commodity demand includesPolyethylene, Polypropylene, and Paraxylene.
Chemical Commodity Demand
Global GDP
Global Chemical Demand
Global demand growth above GDP
Penetration into new markets andmaterial substitution
Asia Pacific 60 percent of futuregrowth
Higher growth potential inspecialties
Global demand for commodity chemicals poised to resume growth.
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The Energy Challenge
The scale of the challenge is enormous and growing
Requires an integrated set of solutions and pursuit of all economic options
Demands a commitment to innovation and technology
Calls for unprecedented levels of investment
Requires sound, stable government policies
Involves effective risk management and a relentless focus on operationalexcellence
The energy industry must meet the worlds growing energy needs safelywhile minimizing the impact on the environment.
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Industry Risks
The energy industry faces multiple uncertainties and risks. Well-developedprocesses, procedures, and people are required to manage risks.
RiskManagement
Financial &
Economic
Geopolitical
Technical
Climate
Change
Safety &Security
Health &
Environment
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Risk Management Approach
ExxonMobil has established common worldwide expectations foraddressing risks inherent in our business.
Capable, committed workforce with clear accountability
Well-developed and clearly-defined policies and procedures
High standards of design to reduce or eliminate risk
Employee and contractor training
Systematic approach to performance metrics and continuous improvement
Rigorously applied management systems
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ExxonMobil employs multiple frameworks to lower risk profiles across thebusiness, forming the foundation for strong financial and operating results.
Multiple Risks Multiple Frameworks
Operations Integrity Management System (OIMS)
Facility Integrity Management Systems
Controls Integrity Management System (CIMS)
ExxonMobil Capital Project Management System (EMCAPS)
Operated-by-Others Management System
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Rex TillersonChairman and CEO
Financial and Operating Results
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2010 Financial and Operating Results
ExxonMobil delivered strong results across all key measures and allbusiness lines.
Industry-Leading Safety Performance
Superior Financial and Operating Results
Unmatched Shareholder Distributions
Disciplined Investments Focused on Long-Term Value
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0.0
0.1
0.2
0.3
'06 '07 '08 '09 '10**
Lost Time Incident Rate
U.S. petroleum industrycontractor benchmark*
U.S. petroleum industryemployee benchmark*
Employee
Contractor
Incidents per 200K hours
* 2010 industry data not available.** Excludes XTO Energy Inc. data.
Safety
Safety performancecontinues to lead the industry
Achieved best-ever lost time
incident rates for combinedemployee and contractor workforce
Effective risk management and
focus on operational excellence
Committed to maintaining andimproving strong performance
ExxonMobils vision of Nobody Gets Hurtis internalized in the Companysculture, positively influencing the behavior of each employee and contractor.
Industry-Leading Safety Performance
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0
2
4
6
8
'06 '07 '08 '09 '10*
Hydrocarbon Flaring fromUpstream Oil and Gas Production
Million Metric Tons
* Excludes XTO Energy Inc. data.
Strong environmental management
Improving energy efficiency
Reducing flaring, spills, andreleases
Protect Tomorrow. Today.
Environmental Performance
ExxonMobil is committed to reducing the impact on the environment whileexpanding energy supplies needed to fuel economic growth.
Industry-Leading Safety Performance
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0
5
10
15
20
XOM CVX RDS BP
Earnings per Barrel*$ per OEB
2010
'06 -10, average
* Competitor data estimated on a consistent basis with ExxonMobil and based on public information.
Profitability ahead of competitionover 5-year period
Benefit of disciplined approach to
cost management
Result of relentless focus onmaximizing value of each asset
Upstream Earnings per Barrel
High-quality Upstream portfolio continues to deliver strong earnings perbarrel.
Superior Financial and Operating Results
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-5
0
5
10
15
XOM RDS CVX
2010 Volume GrowthPercent
XTO
BP
Upstream Volumes Growth
Largest independent producer of oiland gas: 4.45 MOEBD
Most significant annual increase
among competitor group Peer average increase: onepercent
Supported by effective risk
management and operationalexcellence
Ongoing successful integration ofXTO
Upstream volumes grew 13 percent in 2010 driven by project start-ups, theaddition of XTO, and strong operational performance.
Superior Financial and Operating Results
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0
6
12
18
0% 50% 100% 150% 200%
Proved Reserves ReplacementPercent* vs. Costs** (05 09 average)
CVX
RDS
BPXOM
$ per OEB
* Reserves replacement based on SEC pricing bases, excluding asset sales.** Costs incurred in property acquisition & exploration plus development activities, divided by proved oil-equivalent
reserves additions, including purchases. Competitor data estimated on a consistent basis with ExxonMobil andbased on public information.
ExxonMobil consistently replaces more reserves than it produces, at a lowerunit cost than competitors.
Reserves Replacement
Replaced 211 percent of reservesproduced in 2010
Additions exceeded production for
the 17th consecutive year
Proved reserves increased by 8percent from 2009 to 24.8 BOEB
Superior Financial and Operating Results
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Return on Average Capital Employed*Percent
-5
0
5
10
15
20
25
30
XOM CVX RDS BP
2010
'06 -10, average
Return on Capital Employed
ROCE of 22 percent in 2010
Consistent execution ofbusiness model
Strength of integrated portfolio
Disciplined investment through
the business cycle
* Competitor data estimated on a consistent basis with ExxonMobil and based on public information.
ROCE continues to lead industry.
Superior Financial and Operating Results
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0
5
10
Others COP BP RDS CVX XOM
Asset Impairments (2005 2009)*
$B
45
Asset Impairments
Industry Asset impairments totaled
$96B from 2005 - 2009 Erosion of shareholder value Distortion of returns
ExxonMobil No material impairments Supported by disciplined
investment decision processes
Demonstrates strength andquality of portfolio
Highlights ability to generatevalue from each dollar invested
ExxonMobils industry-leading returns are supported by superiorinvestment discipline and the efficient use of capital.
Superior Financial and Operating Results
* Represents publicly reported asset impairments on a before tax basis.
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0
20
40
60
2010 Cash Flow$B
Share Purchases
Dividends
11
52 27
21
7
8
YE09Cash
CashFlow*
Addsto
PP&E**
Share-holder
Distributions
Financing/Other
YE10Cash
2010 Cash Flow
Cash flow up over 70 percent from2009; year-end cash balance ofover $8B
Funded all attractive investmentopportunities and growing dividend
Cash flow of $16B available afterinvestments and dividends
Returned cash to shareholderswith flexible share purchases
Reduced debt by more than 25percent since XTO merger
Superior cash generation provides ability to fund profitable projects, returncash to shareholders, and maintain financial flexibility.
Superior Financial and Operating Results
* Represents cash flow from operations and asset sales of $51.7 billion, including $3.3 billion from asset sales.** PP&E Property, Plant, and Equipment.
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Dividend Growth since 1983*
0.00
0.50
1.00
1.50
2.00
'83
$ per share
XOM
S&P 500
CPI**
100090
Dividends
Almost $40B distributed toshareholders over past five years Per-share dividends increased
53 percent
Dividend has grown every yearsince 1983
Annualized growth rate of 5.7percent
Almost twice inflation
* S&P and CPI indexed to 1983 Exxon dividend.
Unmatched Shareholder Distributions
ExxonMobil delivers reliable and growing dividends. In 2010, $8.5 billion wasdistributed to shareholders.
** CPI based on historical yearly average from Bureau of Labor Statistics.
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Average Annual Distribution Yield*Dividends & Share Repurchases
0
2
4
6
8
ExxonMobil Competitors
Percent
XOM
Competitors**
Annual Distribution Yield
ExxonMobil shareholder distributions are unmatched in the industry.
Average total distribution yield of7.6 percent since beginning of2006
Competitors averaged 6percent over same period
Consistent, strong payout overtime
* Yield based on previous year-end market capitalization (2006-2010).** RDS, BP, and CVX.
Unmatched Shareholder Distributions
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0
7
14
21
28
35
'06 '07 '08 '09 '10
Capex by Business Line$B
Upstream
Downstream
Chemical
Capex
Continued selective investments to enhance long-term value of the assetbase.
Invested over $126Bduring the past five years
Completed three major Upstream
projects with 2011 forecastedproduction of 120 KOEBD RasGas Train 7 Golden Pass Terminal Sakhalin-1 Odoptu
Maintained capital efficiency anddiscipline
Disciplined Investments Focused on Long-Term Value
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2010 Financial and Operating Results
Industry-Leading Safety Performance
Superior Financial and Operating Results
Unmatched Shareholder Distributions
Disciplined Investments Focused on Long-Term Value
ExxonMobil delivered strong results across all key measures and allbusiness lines.
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Rex TillersonChairman and CEO
Competitive Advantages
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Competitive Advantages
ExxonMobil possesses unique competitive advantages which create long-term shareholder value.
Balanced Portfolio Quality
Disciplined Investing
High-Impact Technologies
Operational Excellence
Global Integration
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Competitive Advantages
ExxonMobil possesses unique competitive advantages which create long-term shareholder value.
Balanced Portfolio Quality
Disciplined Investing
High-Impact Technologies
Operational Excellence
Global Integration
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0
30
60
90
0
30
60
90
0
30
60
90
BOEB
Resource Base
Liquids
Gas
Africa
Australia/Oceania
Asia
Americas
UnconventionalGas and Oil
Arctic
Conventional
Heavy Oil / Oil Sands
Deepwater
Acid / Sour
Liquefied Natural Gas
BOEB BOEB
Europe
Type Geography Oil / Gas
2010 Resource BaseUpstream Balanced Portfolio Quality
ExxonMobils resource base of over 84 billion oil-equivalent barrels isdiverse by resource type, geography, and oil / gas mix.
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Markets
0
20
40
0
5
10
15
Gas-IndexedOil-Indexed
Divertible
Africa
Europe
Asia
Americas
LNG
Shale Gas
Conventional
Deepwater
Acid / Sour
Tight Gas
Arctic
Contract Structures
BOEB
Gas Resource BaseBCFD
CBM
Global Gas PositionUpstream Balanced Portfolio Quality
A robust gas portfolio of quality operations and advantaged projects spansall resource types, major markets, and commercial structures.
79 TCF proved gas reserves
Diverse by resource type, majormarkets, and commercial structures
Leading unconventional positionwith significant growth potential
Wide range of contracts ensuresflexibility and market optionality
U t B l d P f li Q li
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0
1
2
3
4
5
2010 Production 2010 Contract Mix
Gas
Oil Oil
OilIndexed
GasIndexed
2010 Production by ContractMOEBD
2010 Production and Contract Mix
Approximately 70 percent of total2010 production linked to oil pricing
One-third of gas sales pricinglinked to oil prices
More flexible contracts also allowability to divert gas to the mostattractive markets
Advantaged developmentscontinue to provide diversecontract structures
A wide range of gas contracts provides ExxonMobil with the flexibility tomaximize the value of a strong global gas position.
Upstream Balanced Portfolio Quality
U t B l d P tf li Q lit
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Turkey
PolandGermany
Nigeria
Romania
Ireland
Norway
Indonesia
Madagascar
Vietnam
TanzaniaPNG
China
West
Greenland
Beaufort
Athabasca
GoM
Horn River
Haynesville /Bossier
Eagle Ford
Guyana
Argentina
Cardium
Colombia
Marcellus
Angola
Australia
Libya
Unconventional
New Play Tests
Established Basin
Unconventional
New Play Tests
Established Basin
Philippines
Russia
New Opportunity Growth
A diverse global portfolio of high-quality resource opportunities.
Upstream Balanced Portfolio Quality
Downstream Balanced Portfolio Quality
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Refineries 60 percent larger thanindustry
Largest lubricant basestockcapacity
Constant focus on cost efficiency,circuit optimization, and reliability
Feedstock flexibility advantage Challenged crude runs 60percent more than industryaverage
Scale Advantage
ExxonMobil is the largest global refiner and manufacturer of lube basestocksas well as a leading marketer of petroleum products.
Downstream Balanced Portfolio Quality
* ExxonMobil average global refinery distillation capacity compared to industry (YE 2010).Equity share capacity calculated on a consistent basis using public information.
100
150
200
250
XOM BP RDS Industry
Average
Average Refinery Size*
KBD
Downstream Balanced Portfolio Quality
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Global Fuels Marketing Sales
23%
10%
30%
37%
Aviation
Marine
RetailIndustrial andWholesale
47%
8%7%
38%
Global Fuels Marketing Sales
23%
10%
30%
37%
Aviation
Marine
RetailIndustrial andWholesale
47%
8%7%
38%
Diverse business channels
Highly integrated with refining
Leveraging our globally recognizedbrands Product quality Supply reliability
Global reach, trusted brands, and high-quality products position ExxonMobilas a reliable supplier to a wide range of customers.
World-class BrandsDownstream Balanced Portfolio Quality
Balanced Portfolio QualityDownstream
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0
10
20
30
40
50
60
'06 '08 '10
Synthetic Lubricants Sales Growth
Percent Change since 2005
ExxonMobil
Industry
Industry-leading Sales Growth
Continued growth in high-value lubes, well above industry.
Market leader in high-valuesynthetic lubes
Legacy of technology leadership
Efficient global business model
Well-positioned to capture superior
growth
Balanced Portfolio QualityDownstream
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Chemical Balanced Portfolio Quality
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0
2
4
6
XOM RDS TOT CVX DOW
Asia Pacific / Middle East Capacity
Ethylene & Paraxylene
Million Metric Tons
Existing
Announced
Asia Pacific Growth
Investments in increasing capacity to meet future demand growth in keyAsia Pacific Markets.
Asia Pacific 60 percent of futuregrowth Supported by Middle East
exports
Fujian start-up in 2009
Singapore expansion enteringcommissioning and start-up phase
Saudi specialties progressing
Source: Chemical Market Associates, Incorporated.
Chemical Balanced Portfolio Quality
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Upstream Disciplined Investing
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Major Project Distribution by Project Type
Percent, resource
UnconventionalGas and Oil
Heavy Oil /Oil Sands
Deepwater Conventional
LNG
Acid /Sour
Arctic
28%
14%
8% 9%
15%
14%
12%
Developing 26 net BOEB, across allregions and resource types
Industry-leading project
management processes
High-impact technology
Capital efficient implementation
Extensive Upstream portfolio of 130+ major projects supports selectiveinvestment decisions.
Major Project Inventoryp p g
Upstream Disciplined Investing
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p
Eleven major project start-ups are planned between 2011 and 2013.
Near-Term Project Start-Ups
Conventional Etim / AsasaPressure Maintenance
DeepwaterPazflor
Acid / SourKashagan Ph 1
ConventionalKipper / Tuna
DeepwaterKizomba Satellites
DeepwaterUsan
Oil SandsKearl Initial Development
ConventionalNigeria Satellites Ph 1
Courtesy of TotalCourtesy of Total
Upstream Disciplined Investing
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Major Project Production Outlook
Gas
MOEBD, net
QG 2 Train 4 & 5, RG Train 6, AKG Ph 2
RG Train 7, Kearl Ph 1
Kashagan Ph 1Syncrude Aurora Nth
Oil
PNG LNGKearl Ph 2
Gorgon Jansz
0
0.3
0.6
0.9
1.2
1.5
'10 '11 '12 '13 '14 '15 '16
Papua New Guinea,Gorgon Jansz
RasGas Train 7
Kearl Expansion,West Qurna (Phase I)
Kashagan Ph 1,Kearl Initial Development,
Syncrude Aurora North
Sakhalin-1 Odoptu
Major Project Production Outlook
Significant new long-plateau production from major projects supports long-term volumes.
Nearly 1.4 MOEBD added by 2016
80% oil volumes
Significant long-plateau volumes
Long-term growth supported bydiverse portfolio
Downstream Disciplined Investing
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Lower-Sulfur Motor Fuels
ExxonMobils global investments continue to expand production oflower-sulfur motor fuels.
New ultra-low sulfur diesel (ULSD)facilities in Baytown, TX; BatonRouge, LA; and Antwerp, Belgium More than $1B invested to meet
expanding diesel demand
Adds 6 million gallons per day
Additional projects underway Scanfiner unit and distillate
hydrofiner upgrade at Sriracha,Thailand, refinery
Diesel hydrotreater at Singapore
Baytown Refinery, United States
Downstream Disciplined Investing
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Downstream Average Capital Employed
$B
0
25
50
'00 '05 '10
ExxonMobil
Competitor Average (1)ExxonMobil
Competitor Average (1)
Efficient Use of Capital
ExxonMobil is the most capital efficient among competitors and activelymanages capital employed across the business cycle.
Disciplined capital management
Robust portfolio managementprocesses
Significant portfolio divestments* Interests in 11 refineries 5K+ miles of pipeline assets 140 product terminals
40 lube oil blend plants 20K+ retail sites
* Asset management activities, 2000 2010
(1) RDS, BP, and CVX values are estimated on a consistent basis with
ExxonMobil, based on public information.
SChemical Disciplined Investing
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Singapore Expansion
Major expansion in Singapore to meet demand growth in Asia Pacific willadd shareholder value, building on key competitive advantages.
2.5 million metric tons of newcapacity
Underpinned by proprietary
technologies
Advantaged project Significant feed flexibility World-scale efficiency
Premium products
Highly integrated with refiningSingapore Expansion
Effi i U f C i lChemical Disciplined Investing
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Chemical Average Capital Employed
$B
0
20
40
'00 '05 '10
ExxonMobil
Major Chemical Company Average (1)
Efficient Use of Capital
ExxonMobil Chemical is the most capital efficient of the large, internationalchemical companies.
Disciplined investment selection
Engineering and project excellence
Growth via internal technologydevelopment
(1) Dow Chemical and BASF values are estimated on a consistent basis
with ExxonMobil, based on public information.
C titi Ad t
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Competitive Advantages
ExxonMobil possesses unique competitive advantages which create long-term shareholder value.
Balanced Portfolio Quality
Disciplined Investing
High-Impact Technologies
Operational Excellence
Global Integration
R h d D l tUpstream High-Impact Technologies
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Research and Development
ExxonMobil delivers advantaged technologies across the business whileprogressing significant breakthrough research.
Integrated technologies provide advantaged business solutions
Developing high-reward, risk-reduction technologies for the future
Imaging Shale GasDrilling Flow Stimulation Sour Gas
Exploration Development Production
Upper ZakumUpstream High-Impact Technologies
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Upper Zakum
Employing advantaged technologies to progress resource developmentwith partners.
Abu Dhabi Technology Center Leading Reservoir Simulator
Building artificial islands with co-located drilling and processing
Technology Center is catalyst for
collaboration and innovation
Use of extended-reach drillingtechnology demonstrated feasibilityof island development concept
Significant savings in developmentcost and reduced environmentalfootprint
Upper Zakum
Development Plan
Legacy of Technology LeadershipHigh-Impact TechnologiesDownstream
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Leading-edge technologies Fundamental composition models Advanced catalysts and processes Heavy oil characterization /
conversion
Energy efficiency / management
Maximize value through entire supplyand production chain Rapidly assess and select
advantaged feeds Model optimum feedstock routing Formulate advanced products
Discovering, developing, and deploying proprietary technologies providenear-term and longer-term competitive advantages to our businesses.
Legacy of Technology Leadership
Next Generation TechnologyDownstream High-Impact Technologies
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ExxonMobil and Synthetic Genomics are researching large-scaleproduction and commercialization of algae-based biofuels.
Numerous potential benefits ofbiofuels production from algae Provides GHG mitigation benefits
unlike conventional fuels No impact on food production
Yields greater volume of biofuelsper acre than other sources
Produces biofuels similar toexisting transportation fuels
Expect to spend $600 million ifproject milestones are met
Next Generation Technology
Algae consume carbon dioxide as they grow
Algae secreting oil
Advantaged TechnologyChemical High-Impact Technologies
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Advantaged Technology
Advantaged feedstock High level of feed flexibility
Lower-cost manufacturing processes Advanced processes and
catalysts Improved energy efficiency and
reliability
Premium products Innovative, higher-value products
Development and deployment of industry-leading chemical technologyprovide a competitive advantage.
Feedstock AdvantageChemical High-Impact Technologies
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Worldwide Feedstock*
0
25
50
75
100
Industry ExxonMobil Chemical
Percent
Ethane
LPG +
Naphtha
Heavy
Feedstock Advantage
ExxonMobil Chemical proprietary technology enables processing bothheavy and light feedstocks for competitive advantage.
Technology critical in deliveringflexibility
North America ethane advantage
Access to low-cost heavy feeds
Source: Chemical Market Associates, Incorporated.
* Ethylene feedstock, 2009 data; ExxonMobil data includes ExxonMobil share of JV production.
Competitive Advantages
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Competitive Advantages
ExxonMobil possesses unique competitive advantages which create long-term shareholder value.
Balanced Portfolio Quality
Disciplined Investing
High-Impact Technologies
Operational Excellence
Global Integration
Reliability and Cost ManagementUpstream Operational Excellence
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Reliability and Cost Management
Achieving superior reliability Operated uptime > 3 percent
higher than assets operated-by-others
Maintaining integrity of facilities
Focusing on investment selectivityand cost management
Efficiency identification andcapture
Standardize
Integrate
Operate and Maintain
Plan and Execute
-
Global best practice deployment delivers superior reliability and life cyclecost performance.
Project ExecutionUpstream Operational Excellence
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0
50
100
150
ExxonMobil Operated Operated-by-Others
114%
101%
Cost Performance*
Percent
Rigorous, high-quality project management processes consistently deliverindustry-leading project execution performance.
Unmatched ability to implementcomplex projects
Deliver projects faster than
competitors
Track record of superior costand schedule delivery
Maximize project efficiencies todeliver superior returns
Project Execution
* Actual versus funded cost variance (%), 06 to 10 project start-ups.
Cost ManagementUpstream Operational Excellence
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0
5
10
15
20
25
'05 '06 '07 '08 '09
Total Costs per OEB*
CVXRDS
BP
XOM
$/OEB Disciplined and consistentapproach to cost management
Continual effort to maximize the
value of each asset
Mature contracting strategies
Ongoing portfolio management
ExxonMobil effectively mitigated cost growth through the business cycle, asa result of superior cost management.
Cost Management
* Upstream technical costs normalized using 10-K/20-F information; beginning in
2009, equity companies and oil sands mining operations are included.
Qatar Liquefied Natural GasUpstream Operational Excellence
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Superior reliability performance combined with unmatched projectexecution and life cycle cost performance generate maximum value.
Qatar Liquefied Natural Gas
Delivering 62 million metric tonsper year capacity through Qatarjoint ventures
96 percent uptime performance in2010
Supplying global major markets
Operating Cost EfficienciesDownstream Operational Excellence
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95
100
105
110
'04 '06 '08 '10
Refining Energy Intensity*
ExxonMobil
Indexed
Industry
Source: Solomon Associates fuels refining benchmarking data; available for even years.
* 2010 results estimated by ExxonMobil. Data indexed to ExxonMobil ('04).
Maintaining refining costleadership
Global average in top quartile
Leveraging chemical integration
Reducing energy costs / emissions Global Energy Management
System
Cogeneration investments Upgrade high energy-
consuming systems
ExxonMobil continues to increase competitive advantage by focusing onoperations reliability, energy efficiencies, and integration.
p g
Improving ProductivityOperational ExcellenceDownstream
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-80
-40
0
'04 '06 '08 '10
Lubes & Specialties Operating Efficiencies
Indexed
Products
Blend Plants
Order Centers
p g y
On-going consolidation activities
Streamlined product offering
Global resources drive loweroperating expenses Organization, systems, and
processes
A continuous focus on optimizing productivity delivers a long-termcompetitive advantage.
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Business SimplificationChemical Operational Excellence
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-40
-30
-20
-10
0
'05 '06 '07 '08 '09 '10
Indexed Percent Change
Marketing & Supply Chain Simplification
Finished ProductInventory
Supply Points
Finished Grades
p
Simplification delivers cost savings and operational efficiencies.
Focus on value capture
Eliminate unnecessary complexity
Lower cost, improve reliability tocustomers
Competitive Advantages
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ExxonMobil possesses unique competitive advantages which create long-term shareholder value.
Balanced Portfolio Quality
Disciplined Investing
High-Impact Technologies
Operational Excellence
Global Integration
Value of the Integrated ModelGlobal Integration
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ExxonMobils effective execution of a complex integrated business modelcreates significant value for the shareholder.
Maximize resource upgrade across the value chain
Joint feedstock and facilities planning
Highest-value outlets for products
Global competency networks, shared services, and best practices
Standardization of key processes including risk management
Efficient development and deployment of new technologies
Integrated Supply ChainGlobal Integration
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ExxonMobil maximizes value across the entire supply chain, from thewellhead to the customer. The level of integration is unmatched.
Commoditiesand
Specialties
FuelsMarketing,
Lubricants and
Specialties
Crude andFeedstocks
CrudeOil
NaturalGas
Feedstocks
Refinery ChemicalPlant
Production3rd Party Sales
Power PlantLNG Plant
Gas Processing
3rd Party Sales
Downstream/Chemical
Integrated ManufacturingGlobal Integration
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Integration with Chemicals/Lubes*
Percent
25
50
75
XOM RDS Industry BP
* Calculated on a consistent basis using public information; YE 2010.
Higher-value products
Integrated molecular optimization
Assets with unparalleled feedflexibility
Common site management, utilities,
and infrastructure
Global scale and integration are structural advantages that are difficult forcompetitors to replicate.
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Competitive Advantages
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ExxonMobil possesses unique competitive advantages which create long-term shareholder value.
Balanced Portfolio Quality
Disciplined Investing
High-Impact Technologies
Operational Excellence
Global Integration
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Mark AlbersSenior Vice President
Global Exploration
New Opportunity Growth
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Turkey
PolandGermany
Nigeria
Romania
Ireland
Norway
Indonesia
Madagascar
Vietnam
TanzaniaPNG
China
WestGreenland
Beaufort
Athabasca
GoM
Horn River
Haynesville /Bossier
Eagle Ford
Guyana
Argentina
Cardium
Colombia
Marcellus
Angola
Australia
Libya
Philippines
Russia
New Play Tests
Unconventional
Established Basin
A diverse global portfolio of high-quality resource opportunities.
New Opportunity Growth
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Gas
Mixed / To be determined
Oil
PolandGermany
Nigeria
Romania
Ireland
Norway
Indonesia
Madagascar
Vietnam
TanzaniaPNG
China
WestGreenland
Beaufort
Athabasca
GoM
Horn River
Haynesville /Bossier
Eagle Ford
Guyana
Argentina
Cardium
Colombia
Marcellus
Angola
Libya
Turkey
Philippines
Australia
Russia
A diverse global portfolio of high-quality resource opportunities,representing a balance between oil and gas.
Established Exploration U.S. Gulf of Mexico
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2.1 million net acres with exposureto multiple plays
Recent discoveries at HadrianSouth and Hadrian North
Seismic processing and drillingplanned in 2011
Actively building Gulf of Mexicoprospect inventory
Active exploration programs in established basins such as the U.S. Gulf ofMexico.
EM 50% (Operator)
Plugged oil and gas well
Plugged well with oil shows
Planned well location
KeyNKC875 KC876KC874
Lucius
Hadrian-5(Planned)
KC964
Hadrian-2
Hadrian-4
KC962 KC963
KC920
Hadrian-1KC918
KC919
Hadrian-3
1 Mile
HadrianNorth
HadrianSouth
Keathley Canyon
DianaHoover
Great White
Garden Banks
Tiber
20 miles
East Breaks
Alaminos Canyon
ExxonMobil InterestAcreage
New Basin Tests Black Sea
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Leading acreage position in theBlack Sea with 6.3 million netacres
Sinop-1 wildcat completed
Evaluating results to assist infuture exploration
Multiple new play tests are planned
in 2011-2012 in Turkey andRomania
ExxonMobil maintains an active exploration program which includes selectnew play tests in basins with significant upside potential.
2010 Sinop-1 Wildcat 2011 - 2012 Potential Wildcats
Russia
Georgia
Bulgaria
Romania
Ukraine
ExxonMobil Acreage
Turkey
Tuapsinskiy Block
Resource Base Growth
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0.0
0.5
1.0
1.5
2.0
2.5
3.0
XOM XOM CVX BP RDS
0
1
2
3
4
5
'01 '02 '03 '04 '05 '06 '07 '08 '09 '10
Annual Resource Additions (2001 2010)
BOEB
Discovered Undeveloped*
By-the-Bit*
2002 - 20082004 - 2008
2006 - 2010
2001 - 2010
2005 - 2009
Finding Cost (as reported)**
$/OEB
Production
$2-3
ExxonMobil consistently adds quality resource additions at attractive findingcosts.
* Excludes XTO acquisition and the proved portion of discovered undeveloped additions.
** Source: Chevron Analyst Presentation (March 2010), BP Strategy Presentation (March 2010),
Shell Analyst Presentation (March 2010).
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Mark AlbersSenior Vice President
Upstream Projects
Deepwater Blocks 15 and 17, Angola
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Expected to produce an additional100 kbd of oil in Angola
Innovative loop developmentbetween existing Kizomba A and B
producing facilities
Advancing three new projects inBlock 17
Delivering significant value through opportunities such as KizombaSatellites Phase 1 in West Africa.
Arctic Sakhalin-1, Eastern Russia
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Odoptu project started-up on timeand producing 50 kbd
Developed with world recordextended-reach drilling
Funded development of ArkutunDagi field with start-up planned in2014
Disciplined project management processes continue to deliver industry-leading project execution performance.
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Oil Sands Kearl, Canada
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0
100
200
300
400
Initial Development
Expansion
0
40
80
Kearl Industry GOM
Deepwater
DevelopmentCost
Operating
Earnings /Government
Take
BitumenDiscount
Kearl ComparisonKOEBD, net
GOMDeepwater
Revenue Components at 2010 Oil Price
Source: Wood MacKenzie.
Earnings /Government
Take
OperatingCost
Development
$ per OEB
High-quality oil sands resource coupled with ExxonMobil technology andexecution capability provide long-life earnings contribution.
Long-term plateau productionprofile
Lower combined unit developmentand operating costs
Competitive with industry Gulf ofMexico deepwater developments
Conventional West Qurna (Phase I), Iraq
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Signed 25-year agreement
Amended agreement to includediscovered but undevelopedreservoirs
Established ExxonMobil presencein Basra and Baghdad
Commenced field activitiesincluding well work and facilitiesenhancement
ExxonMobil is advancing the redevelopment of this world-class field tomaximize production capability.
Iraq
Photo upgrade
pending
Liquefied Natural Gas - Papua New Guinea
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High-quality 9 TCF gross resource
Two-train 6.6 MTA LNG plant
Upstream facilities and 450 milepipeline
Commenced pipe laying
Anticipate start-up in 2014
PNG LNG project utilizes global LNG experience, strengtheningExxonMobils presence in the attractive Asia Pacific gas market.
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Unconventional Portfolio
Andy SwigerSenior Vice President
E M bil l b l ti l b f l t 35 billi il
Unconventional Resource Base
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BOEB
Unconventional Resource Base
Unconventional
Gas and Light Oil
0
10
20
30
40
YE 2005 YE 2010
Heavy Oil /
Oil Sands
Almost 90 percent growth over2005-2010
Unconventional accounts for over40 percent of total resource base
Gas growth balanced by strongposition in heavy oil / oil sands
ExxonMobils global unconventional resource base of almost 35 billion oil-equivalent barrels is growing and includes several new strategic additions.
Unconventional North America
E M bil N th A i ti l b i di
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Shale Gas
Tight Oil
Tight Gas
CBM
Tight Gas / CBM
Heavy Oil /Oil sands
Fayetteville550K
Woodford205K
Bakken410K
San Juan/Raton400K
Uinta260K
Piceance300K
Barnett245K
Eagle Ford120K
Freestone290K
Haynesville/Bossier240K
Athabasca
745K
Horn River340K
Marcellus390K
Cardium235K
San JoaquinValley122K
Shale Oil(incl. liquids rich)
ExxonMobils North American unconventional resource base is diverseby location and play type.
Unconventional Gas Plays
ExxonMobil holds a leadership position in multiple unconventional plays
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Mcfd
0
50
100
150
200
250
Dec-08 Dec-09 Dec-10
0
10
20
30
Gross OpProduction*
Rigs
McfdHaynesville Shale
0
50
100
150
200
250
300
Dec-08 Dec-09 Dec-10
0
10
20
30Fayetteville Shale
Gross Op
Production*
Rigs
Rigs
RigsMcfd
0
50
100
150
200
250
Dec-08 Dec-09 Dec-10
0
10
20
30
Gross OpProduction*
Rigs
McfdHaynesville Shale
0
50
100
150
200
250
300
Dec-08 Dec-09 Dec-10
0
10
20
30Fayetteville Shale
Gross Op
Production*
Rigs
Rigs
Rigs
ExxonMobil holds a leadership position in multiple unconventional playssuch as the Haynesville and Fayetteville shales.
Haynesville: increased productionfour-fold in 2010
Hold 240,000 net acres
Fayetteville: production more than
doubled in 2010 Hold 550,000 net acres
2010 strategic additions:
Haynesville (Ellora) Fayetteville (Petrohawk) Continued leasing and minor
acquisitions
* Represents gross operated production pre- and post-XTO acquisition.
Operational Excellence
Best practices in unconventional gas build value through higher recoveries
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0
10
20
30
40
50
'05 '06 '07 '08 '09 '10
Drilled 8 of 10 largest CumulativeProduction Wells in Barnett Shale
Drilling Days, Spud to Rig ReleaseBarnett Shale, 2005-2010
4.2
3.9
3.7 3.7 3.6 3.6
5.1
4.5 4.5 4.5
0
1
2
3
4
5
6
1 2 3 4 5 6 7 8 9 10
XOM well
Competitor well
BCF Produced
Best practices in unconventional gas build value through higher recoveriesand increasing operational efficiency.
Source: Cumulative Production through May 2010, Powell Barnett Shale Newsletter, 8/31/10.
Unconventional Liquids Rich Plays
Unconventional liquids rich plays such as the Eagle Ford and Bakken
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Strong acreage position
Drilling in Bakken/Three Forks withpotential to ramp-up
Hold 410,000 net acres
Delineating Eagle Ford position
Hold 120,000 net acres
Building position in other liquids-richplays
Unconventional liquids-rich plays such as the Eagle Ford and Bakkenprovide upside value potential.
XTO Integration
XTOs experience and capabilities are further enhanced by leveraging
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Attrition consistent with historiclevels
Technology and expertise are keyto unlocking greater value
Consolidating activities to growoperational capabilities
Creating significant long-term value
XTO s experience and capabilities are further enhanced by leveragingExxonMobils global functional organization.
ResearchExploration
Gas Marketing
Drilling
Production
Global Growth Opportunities
ExxonMobil holds a leadership position in emerging global unconventional
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Argentina
Colombia
U.S.
CanadaGermany Poland
China
Indonesia
Shale Gas
Tight Gas
Coal Bed Methane
Tight / Shale Oil
Heavy Oil / Oil Sands
Diverse global portfolio
Access to greater than 10 million netacres globally
Technology key to unlocking fullresource potential
Significant value creation throughsizeable long-life resources
ExxonMobil holds a leadership position in emerging global unconventionalplays.
Value Creation Unconventional Gas and Oil
Unconventional gas and oil production has the potential to unlocki ifi f l i h l h
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U.S. Unconventional Production (2010-2020)
0.0
0.2
0.4
0.6
0.8
1.0
'10* '12 '14 '16 '18 '20
TightCBM
Shale
MOEBD
Unconventional gas and oil production has the potential to unlocksignificant future value with strong volume growth.
100 Tcfe global resource base
~50,000 drillwell inventory in the U.S.
U.S. production doubles by 2020
Shale plays drive growth
* 2010 includes full-year XTO production.
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Unlocking Greater Value
Superior value creation relies on high-quality resources, growth markets,enabling technologies and gro ing organi ational capabilit
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1995 2000 2005
2010
2000 2005 2010
DeepwaterResources
UnconventionalResources
Global OilMarkets
EstablishedMarkets
DeepwaterTechnologies
UnconventionalTechnologies
Leading
DeepwaterCapability
LeadingUnconventional
Capability
Superior value creation relies on high quality resources, growth markets,enabling technologies, and growing organizational capability.
Stranded GasResources
Global LNGMarkets
Value ChainTechnologies
LeadingLNG
Capability
Deepwater
LNG
Unconventional
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Rex TillersonChairman and CEO
Summary
Share Performance
ExxonMobils performance exceeds competitor average and S&P 500.
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0
3
6
9
12
20 Years 10 Years 5 Years
$K
Shareholder ReturnsValue of $1,000 Invested (as of YE 2010)
ExxonMobil
Competitor average*
S&P 500
p p g
* RDS, BP, and CVX.
Financial results and stock marketreturns best viewed over long-term
Performance consistent withinvestment horizon
Supported by competitiveadvantages and financial strength
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Increasing Ownership - Reserves
Share purchases have enhanced per share ownership of oil and gasreserves Reserves per share increased 32 percent since 2006
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0.8
0.9
1.0
1.1
1.2
1.3
1.4
'06 '07 '08 '09 '10
Reserves Growth per Share since 2006*Indexed; 2006 = 100
Indexed Growth
XOM
BP
CVX
RDS
Expanding reserve base plus sharereductions yield strong growth inreserves per share
Ahead of competition
* 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. 2009 reserves
data used for competitors since 2010 data was not yet available.
p p p greserves. Reserves per share increased 32 percent since 2006.
Value per Share
Earnings per share is enhanced by a robust share purchase program.
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0
2
4
6
8
2010 EPS without Share
Reduction
2010 EPS
$ per share
Impact of Share Purchases sinceExxon and Mobil Merger on 2010 EPS 2010 EPS of $6.24 per share
EPS 42 percent higher thanwithout share purchases*
Ongoing benefit to shareholders
* Average shares outstanding reduced by 29.4 percent since beginning of 2001.
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Upstream Production Outlook
Production outlook, excluding XTO, remains unchanged at 2 to 3 percentgrowth per year from 2009 to 2013.
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0
1
2
3
4
5
'09 '10 '11 '12 '13
Total Production Outlook
MOEBD, net 2010 Outlook2011 Outlook (excluding XTO)
g o t pe yea o 009 to 0 3
2010 outlook assumed 3 to 4percent growth from 2009 to 2010
2010 production growth of 6percent exceeded outlook
2009 to 2013 outlook remainsunchanged
Upstream Production Outlook
Production growth delivered by strong base performance, high-qualityprojects, and new resource potential.
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0
1
2
3
4
5
'09 '10 '11 '12 '13 '14
Total Production Outlook*
MOEBD, net
Project Volumes
Base Production
p j , p
* Excludes divestments and OPEC quota effects.
Volumes growth remains strong 2010-2011: 3 to 4 percent 2009-2014: 4 to 5 percent
Decline rate of 3 percent
Compared to historic rate of 5 to6 percent
Unconventional and long-plateauvolumes mitigate decline
Upstream Production Outlook
ExxonMobil has a balanced portfolio with strong contributions from bothliquids and natural gas.
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0
1
2
3
4
5
'09 '10 '11 '12 '13 '14
Total Production Outlook*
MOEBD, net
Gas
Liquids
q g
* Excludes divestments and OPEC quota effects.
Liquids growth averages 2 to 3percent driven by major projects
Increasing level of long-plateauvolumes
ExxonMobil Strengths
ExxonMobils strengths and competitive advantages sustain long-termsuccess.
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Superior Financial and Operating Performance
Balanced Portfolio Quality
Disciplined Investing
High-Impact Technologies
Operational Excellence
Global Integration
Sum of the Parts Plus
ExxonMobil is an industry leader across the business, and competitiveadvantages create value greater than the sum of the individual parts.
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Largest Global Refiner
No. 1 Supplier of Lube Basestocks
Highest-ReturnChemical Companyamong Peers
Premier Unconventional Gas Company
Leader in LNG Value Chain
High-Quality, Low-Cost Oil SandsLargest IOC Producer of Liquids