8-KEarnings & ResultsRegulation FD

EXXON MOBIL CORP 8-K Report, Financial Results (Feb 17, 2009)

Filed February 17, 2009For Securities:XOM

Summary

This Exxon Mobil Corporation (XOM) 8-K filing from February 17, 2009, primarily serves to disclose information regarding the company's 2008 additions to worldwide proved oil and gas reserves and the associated reserves replacement percentage. The filing references a news release dated February 16, 2009, which contains the detailed information and is included as an exhibit. This disclosure is crucial for investors to assess the company's ability to maintain and grow its future production capacity and the sustainability of its resource base. For investors, the key takeaway is Exxon Mobil's performance in replacing its produced reserves. The reserves replacement ratio is a critical metric for the oil and gas industry, indicating whether a company is successfully discovering or acquiring new resources to offset what it consumes. A replacement ratio exceeding 100% generally suggests long-term resource sustainability and potential for future growth, while a ratio below 100% could signal concerns about future production levels.

Key Highlights

  • 1Exxon Mobil Corp. filed an 8-K on February 17, 2009, reporting on its 2008 proved oil and gas reserves.
  • 2The report focuses on additions to worldwide proved oil and gas reserves for the year 2008.
  • 3A key metric disclosed is the percentage of reserves replaced in 2008.
  • 4The information was communicated via a news release dated February 16, 2009, attached as an exhibit.
  • 5This filing falls under Regulation FD Disclosure (Item 7.01) and Results of Operations and Financial Condition (Item 2.02).
  • 6Investors can use this data to evaluate the company's resource base sustainability and future production outlook.

Frequently Asked Questions

The main purpose of this 8-K filing is to disclose Exxon Mobil's additions to its worldwide proved oil and gas reserves for the year 2008 and the company's reserves replacement percentage for that period. This information is crucial for understanding the company's long-term resource management and future production capabilities.

The detailed information regarding Exxon Mobil's 2008 additions to worldwide proved oil and gas reserves and the related reserves replacement percentage is provided in the news release dated February 16, 2009, which is included as Exhibit 99 to this 8-K filing.

The reserves replacement percentage is a critical indicator for oil and gas companies. It shows whether the company is successfully finding or acquiring enough new oil and gas reserves to replace the amount it produced during the year. A replacement ratio above 100% suggests the company is growing its resource base, which is generally positive for long-term sustainability and future production.

No, this 8-K filing specifically focuses on the company's 2008 oil and gas reserves additions and replacement percentage. While it falls under 'Results of Operations and Financial Condition,' the core disclosure here is reserve-related, not a comprehensive financial statement. Investors would typically find detailed financial results in the company's Annual Report (10-K) or quarterly reports (10-Q).