8-KOther Events

EXXON MOBIL CORP 8-K Report (Jan 28, 2003)

Filed January 28, 2003For Securities:XOM

Summary

This Exxon Mobil Corporation (XOM) 8-K filing, dated January 28, 2003, primarily serves to furnish a news release concerning the company's 2002 additions to its worldwide proved oil and gas reserves and the associated reserve replacement percentage. While the full details are within the attached exhibit, this filing indicates a significant focus on the management and reporting of XOM's core asset base for investors. For investors, the key takeaway is that Exxon Mobil is providing an update on its ability to replenish its oil and gas reserves, a critical metric for evaluating the long-term sustainability and production capacity of an energy company. The reserve replacement percentage is a vital indicator of how effectively the company is finding or acquiring new resources to replace those it is depleting through production.

Key Highlights

  • 1Filing date: January 28, 2003.
  • 2Report type: 8-K Current Report.
  • 3Primary purpose: To disclose additions to worldwide proved oil and gas reserves for 2002.
  • 4Includes information on the reserve replacement percentage for 2002.
  • 5The details are provided in an attached news release dated January 28, 2003 (Exhibit 99).
  • 6The filing is furnished under Regulation FD Disclosure.
  • 7Signed by Donald D. Humphreys, Vice President, Controller and Principal Accounting Officer.

Frequently Asked Questions

The main purpose of this 8-K filing is to publicly disclose Exxon Mobil's additions to its worldwide proved oil and gas reserves for the year 2002 and to report the related reserve replacement percentage. This information is crucial for investors to assess the company's resource base and its ability to sustain future production.

The detailed information regarding the 2002 additions to worldwide proved oil and gas reserves and the reserve replacement percentage is contained within the news release dated January 28, 2003, which is included as Exhibit 99 to this 8-K filing.

The reserve replacement percentage is a key performance indicator for oil and gas companies. It shows the ratio of new reserves added to the amount of oil and gas produced during a period. A replacement percentage of 100% or higher indicates that the company is replenishing its reserves, which is vital for long-term production and value creation. A consistently low percentage could signal future production challenges.

No, this specific 8-K filing does not include a summary of 2002 financial results. Its sole purpose is to provide an update on oil and gas reserves and the reserve replacement percentage, as announced in the accompanying news release.