Oil Majors’ Reserves Of Oil And Gas In 2013

Oppenheimer analysts Fadel Gheit and Robert Du Boff examine oil and gas reserves held by the oil majors as well as the large E&P companies as of end-2013 in their April 8, 2014 research note.

“The combined estimated proved reserve of the largest four companies at the end of 2013 was a record 67.8 bboe, up 2% year-on-year, 1% in the last three years and 6% in the last five years,” reports Oppenheimer.

From the table above, note that Exxon Mobil Corporation (NYSE:XOM) and BP plc (NYSE:BP) (LON:BP) hold the largest proved reserves amongst the four majors with 25.22 bboe and 17.73 bboe respectively.

Oil Majors’ reserve replacement rate

Reserve replacement rate, a...