Exxon's Exploration and Production Business: Strategies for Growth and a 30 year Review of Exxon's E and P Activities

Abstract

In December 1994, Exxon publicised its strategies for growth in petroleum exploration and production. This business sector contributes 60 percent of Exxon's earnings.

A 30 year review of Exxon's activities shows some encouraging trends but E and P expenditure in 1994 was the lowest in real terms since 1973. Furthermore Exxon's R/P ratios in the USA and in Canada, its key risk five operating terretories, are half of what they were 30 years ago.