Exxon Mobil Corp. failed to replace all of the oil and natural gas it pumped last year with new discoveries and acquisitions for the first time in more than two decades.
Exxon Mobil’s so-called reserve-replacement ratio fell to 67 percent in 2015, the Irving-based company said in a statement on Friday. Prior to that, the world’s largest oil explorer by market value had achieved ratios of 100 percent or higher for 21 consecutive years.
Exxon Mobil held reserves equivalent to 24.8 billion barrels of crude as of Dec. 31, enough to continue current rates of production for 16 years, according to the statement. That is down from 17.4 years or reserves life at the end of 2014.
The company added reserves last year in Abu Dhabi, Canada, Kazakhstan and Angola. In the U.S., gas reserves declined by the equivalent of 834 million barrels as tumbling prices for the furnace and power-plant fuel made some fields unprofitable to drill.This is a huge story with many, many story lines. Missing reserve replacement by any amount is huge news but falling to 67% is quite incredible. Especially for Exxon Mobil which seems to be the gold standard for such things.
The gas reserves removed from Exxon Mobil’s books probably will be drilled at some point in the future when prices are higher, according to the statement.
Call me crazy, call me inappropriately exuberant about the Bakken but I think this has implications for North Dakota. A reminder for newbies: Exxon Mobil has a large operation in the Bakken.
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The Apple Page
Apple Watch Sales Estimated at 5.1 Million in Holiday Quarter, Swiss Watch Sales in Trouble.
The latest data from Strategy Analytics reveals that the Apple Watch remained the most popular smartwatch through the fourth quarter of 2015, capturing 63 percent global market share based on an estimated 5.1 million sales in the three-month period.Swiss watch sales: 8 million/quarter. After decades of faithful customers.
Samsung trailed in second place with 16 percent market share and an estimated 1.3 million sales. Apple and Samsung together accounted for 8 in 10 of all smartwatches shipped worldwide during last year's holiday shopping season, based on the data.
Global smartwatch sales rose to an estimated 8.1 million units in the fourth quarter of 2015, an increase of 316 percent from 1.9 million in the year-ago quarter. The growth was led by North America, Western Europe, and Asia.
The record-breaking smartwatch growth contrasted the troubled Swiss watch market, which declined 4.8 percent in Q4 2015 over the year-ago quarter. Swiss watch sales totaled 7.9 million units in Q4 2015, down from 8.3 million in Q4 2014.
Apple watch sales: 5 million/quarter. After two years or so.
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A Note For The Granddaughters
This is the scoring summary and comments of two games on the sixth night of the FINA tournament in Lewisville, TX, as a lead-up to the Olympic games in Brazil this summer.
The championship games will be held Sunday, February 21, and pairings will be finalized following these two games. [Update: the pairings were completed following the games below. USA and Australia will meet again for the championship. USA was 5 - 0 in the tournament; Australia was 4-1. ]
Brazil (white/home) vs Canada (black/guest).
From the outset, Canada looked to be the stronger team. And just after noting that, Canada scored the first goal, within the first minute or so. Brazil took five shots in the first period; three were wild, and two bounced off the top of the goal. With 40 seconds to play in the first period, Canada led 3 - 0, but Brazil made a point, ending the first period 3 -1.
Brazil scored early in the second period, but Canada came back quickly, and with 4 minutes left to play, 5 - 2, but then a Brazilian goal, 5 - 3 with slightly less than four minutes to play.
Canada continues to take long, strong shots, seeming almost to score at will. With 3:24 to play, it’s now 6 - 3 following a long shot, and a hard, direct shot into the corner of the goal.
Canada has more take-aways, seems to score at will; Brazil does score but their shots are less sure, it seems. Brazil just scored a very nice point, not often seen. An outside player threw to a teammate directly in front of the goalie and the teammate seemed to simply swat the ball into the goal. If she caught the ball, she held it for a nano-second; 6 - 4.
Canada continues to score at will. Canada passes / controls the ball much better and then takes deep, deep shots. With 1:40 to play it’s 7 - 4.
In water polo, the game can change momentum quickly, but it’s been my impression at this level of play it’s difficult for a team down 7 - 4 at the end of the half, and when the winning team seems to be playing much better, for that team to come from behind to win.
Wow, I don’t understand all the water polo rules, but all of a sudden, with one minute left to play in the first half, the game has gotten very physical. There is much more physical contact than I saw in the any of the three games I saw earlier in the week.
I saw Brazil play the US (the US won 17 - 2) but I have not seen Canada play until now.
In the last game tonight, the US will play Australia. Australia has qualified for the Olympics; the US has not. I saw Australia play the first day of the tournament; they looked very, very strong.
The end of the first half, Canada, 7, and Brazil, 4.
Either I’m more aware of it now, or there are more occurrences, but I have seen at least instances of when a Brazilian player was ejected from the pool for one possession. It occurred early in the third period, and Canada took advantage of the one player advantage, scoring, making it 8 - 4.
At 6:00 to play, Brazil scored, making it 8 - 5.
Again, much better ball handling, passing, controlling, but unable to score.
Brazil penalized, sending a teammate to the “penalty box” and Canada immediately scores. With 4:00 to play in the third period, 9 - 5. The third quarter ends 9 - 6, with Canada still ahead.
Two minutes into the fourth period, Canada scores first, making it 10 - 6. Barring a complete meltdown it’s just a matter of what the final score will be. Canada will obviously win. If this is scored like soccer tournaments I have been to, where there are not enough teams or time to play through brackets, then points still matter.
Canada scores again with 5:22 remaining, 11 - 6.
As I was saying, teams are awarded points for winning, points for tying, and points based on number of goals made. The two teams scoring the most points using this system will play for first place tomorrow afternoon.
Again, a reminder, there are six teams in this tournament. Tomorrow, the 5th- and 6th-place team will play the first game. The second game wil be played by the 3rd- and 4th-place teams, and finally, as noted, the top two teams will play for first place.
The scoring has slowed considerably. In what seemed to be slow-motion, the Canadians scored again, 12 - 6 with 3:23 left to play.
I think this was a good game for Arianna to see. She sees just how physical the game can get.
At 2:47 to play, the Brazilians score, 12 - 7. The Canadians answer, 13 - 7.
Another unanswered goal, and the Canadians lead 14 - 7 with 1:20 left to play. With good ball handling the Brazilians can’t expect to get more than two shots, and the Canadians just took away their last chance with 46 seconds to play.
And that’s the end of the game: 14 - 7, Canada.
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USA vs Australia
This is the game we came to watch. It is the last game of the week before the championship games begin tomorrow.
Australia (home/white) vs USA (guest/black).
They are being introduced now. It’s a very interesting way the crowd responds, as I’ve mentioned before. A very genteel two-clap response when a team member is introduced. They haven’t take down the score form the previous game yet.
Okay, the board is set 0 - 0. It looks like a good match-up.
The US goalie blocks the first shot on goal, and Team USA comes down to score, at 5:59.
The US goalie blocks another hard, direct shot on goal, and Team USA comes to this end of the pool. A hard, direct shot; the Aussie goalie not able to stop it though it did glance off her right arm, 2 - 0 at 5:05.
Another blocked goal. US brings it down-pool. Shot-on-goal hits the goal and bounces off; I’m not sure how, but the US took the ball and shot again. Wild.
Australia takes the ball to the goal but the US takes it away. A poor possession by the US and a poor shot and it’s back with the Australians. Wow, another save by the American goalie. She is quite incredible.
Huge shot-on-goal by the US but bounces off the top of the goal with 2:21 left to play.
Wow, huge, hard, direct shot-on-goal and this time it hits its mark. That was a solid goal, making it 3 - 0.
Wow, another blocked shot by the phenomenal US goalie and Australia is denied another goal. It has to be demoralizing.
I guess it didn’t count but that last “goal” looked incredibly impressive. It’s one of those shots where the shooter has her back to the goal and flings it underhand. It went it but time must have run out.
End of first period, 3 - 0.
Second period, the US goalie has her 5th save. The US at 5:41 with a hard, direct, shot from the middle scores, 4 - 0.
One would think at this point, it’s all over, but I have great concerns about the Australians, and the momentum can easily change in water polo. Wow, another huge block by the Americans. The goalie only had to retrieve the ball that ended up in the corner of the pool.
Wow, and right down to this end of the pool, and with a hard, direct shot from the far right side, the US scores again with 4:44 left in the second period, and now it’s 5 - 0.
I’m sure the crowd feels it’s all US now but when it comes to these sports, I’m always a pessimist, always a realist, always on edge.
Two unanswered points by the Australians would change the momentum and possibly the outcome of the game.
Wow, they are good. Now it’s 6 - 0 with 3:00 minutes left. I can’t keep track of all the players, but that was the first goal by that US player.
It’s really fun to see a hard-thrown ball bounce off the top of the goal and back to the middle of the pool, to watch the swimmers in open water racing for the ball. Who will get there first, and if two arrive at almost the same time, how does one control the ball.
The US has the ball with 1:36 left to play; exclusion gives the US a one-person advantage. But they couldn’t take advantage of it.
With 49 to play, will the Australians be blanked out in the first half?
Another huge save by the US goalie.
The first half ends 6 - 0 with the Australians treading water.
Third period. Finally, with 4:30 left in the third period, in a close-in shot, our goalie can’t stop it, and the Aussies score, 6 -1. The US crowd was, no doubt, hoping for a shutout at this point, but not to be. But again, always being on the edge of my seat, another unanswered goal and the US might not look so invincible.
A huge sustained yell from the crowd: another incredible score and the US scores at 1:39 left in the third period, 7 - 1.
Australia answers but it was not definitive. 7 -2 at 1:15.
Ooooohhhh, scary — the Australians with another unanswered goal, and the score is 7 - 3 with 45 seconds left in the period. That should get the attention of the US players.
Maybe my anxiety is well-placed. At 6:42 the Aussies score and the US receives a yellow card. A double whammy. 7 - 4. Maybe I’m wrong; maybe the yellow card was on Australia. The US had a 6-5 player advantage, but couldn’t score. [Later I learn from my granddaughter that both the US coach and the Australian coach each received a yellow card.]
An Aussie score here and it becomes a nail-biter.
The US, apparently, has had enough. Her first goal of the night, and it’s 8 - 4 with 5:03 remaining.
The US goalie is just incredible. Blocked shot after blocked shot, and the US is still ahead 8 - 4 with 2:13 remaining.
With 56 seconds, the Aussies scores but it will be their last score and the US will win by two, maybe three, and possibly four points.
Let’s see.
That’s it. 8 - 5. A huge roar from the crowd.
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