Our business divisions

Upstream company

Upstream company

Our Upstream operations strengthen energy security by expanding access to reliable and affordable supply while focusing on achieving industry-leading emissions intensity.

We are well positioned to help meet the need for oil and natural gas through the next decade and beyond. As part of our net-zero ambition, we have identified ways to reduce emissions across all Upstream operated assets.

ExxonMobil completes acquisition of Pioneer Natural Resources

The merger of ExxonMobil and Pioneer creates an Unconventional business with the largest high-return development potential in the Permian Basin. The combined company’s more than 1.4 million net acres in the Delaware and Midland basins have an estimated 16 billion barrels of oil equivalent resource. Read the press release

Image ExxonMobil completes acquisition of Pioneer Natural Resources

Our Upstream portfolio

We have five Upstream businesses: unconventional, deepwater, heavy oil, liquefied natural gas (LNG), and conventional. This organizational model is underpinned by deep technical and commercial capabilities in all five.

  • Conventional

    Conventional oil and natural gas are the largest and most diverse piece of the Upstream portfolio. We have operations spanning a wide range of conditions in nearly 20 countries.

  • Unconventional

    We operate throughout the United States, from the Permian Basin to the Bakken to Appalachia. We hold more than 9.5 million acres, with a total resource base of approximately 18.5 billion oil equivalent barrels. We also provide operational support for unconventional resource development in Argentina.

  • Deepwater

    We maintain one of the most active deepwater exploration programs in the industry, with acreage positions in Guyana, Angola, and the Eastern Mediterranean. We invest in efficient and responsible exploration that leads to projects that deliver robust shareholder returns while supplying needed energy for today and tomorrow.

  • Heavy oil

    Through our majority-owned affiliate Imperial Oil Limited, we have a significant heavy-oil-asset portfolio in the oil sands region of Alberta, Canada.

  • Liquified Natural Gas (LNG)

    We have been a leader in the natural gas sector for more than 40 years, and we’re committed to deepening our investment in this vital energy resource to help safeguard the environment for future generations.

  • An XTO well site near Forth Worth

    Natural gas

    Oil and natural gas technologies, such as horizontal drilling and hydraulic fracturing, have unlocked vast unconventional resources. These supplies have dramatically altered the energy landscape over the past decade, particularly in North America.



    Our Guyana projects are our most successful deepwater developments and among the most competitive in our Upstream portfolio.

    By 2027, we expect to be producing approximately 1.3 million barrels of oil a day on the Stabroek Block – the area with our discoveries off the coast of Guyana.

    Our work in Guyana helps develop a globally competitive workforce by investing in local Guyanese communities and projects to support the country’s sustainable development.


    The Permian Basin

    Our Permian Basin operations are in the United States’ most prolific oil and gas producing area in West Texas and Southeast New Mexico.

    We have one of the industry’s most aggressive plans in the Permian to achieve near-zero methane emissions from our operated, unconventional assets by 2030. We're expanding and accelerating methane monitoring, equipment upgrades and flaring reductions.

    Our team’s innovation and technology play an essential role in efforts to both unlock more energy to meet society’s needs and reduce emissions from our operations.