Peak Oil? What Peak Oil? -- XOM: Most New Production in 5 Years -- XOM Drilled 63 Bakken Wells in 2010

Link here.

Data points (some numbers rounded):

• XOM to add 1.4 million boe/d net to its production by 2016
• Oil will account for 80% of that new production
• "No bias (oil vs natural gas) for us one way or the other. Our bias is to make money."
• 2011 project startups: + 120,000 boe/d over 2010
• XOM's average reserve replacement cost during 2005 - 2009: $8/boe
• Proved reserves (2010): 25 billion boe; up 8 percent from 2009

2012 - 2013: 10 new projects to come on line

Unconventional resources account for 40 percent of XOM's total boe resource base

• Of note: XOM has 410,000 net acres in the Bakken (MT and ND)
• Seven rigs in ND Bakken as of March 9, 2011
• In 2010: XOM drilled 63 Bakken wells

Additional Bakken comments at the link. Very, very interesting. (XOM presence in the Bakken is through its wholly owned subsidiary, XTO).