Our business divisions
Upstream
Strengthening energy security and meeting society’s evolving energy supply needs
Upstream strengthens energy security by expanding access to reliable and affordable supply while focusing on achieving industry-leading emissions intensity.
Latest news
Well, Well, Well: Delivering results in New Mexico
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• Dec. 13, 2024
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• Dec. 9, 2024ExxonMobil announces leadership changes
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• Dec. 3, 2024On our 25th merger anniversary … how we’ve kept pace with changing times
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• Dec. 2, 2024500 million barrels of oil produced from Guyana's Stabroek block
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• Nov. 13, 2024Our Upstream portfolio
We have five Upstream businesses: unconventional, conventional, deepwater, heavy oil and liquefied natural gas (LNG). This organizational model is underpinned by deep technical and commercial capabilities in all five.
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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.
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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.
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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.
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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.
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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.
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 releaseOur global organization
Guyana
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.
Our global organization
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.
Our global organization
Multiple businesses benefiting from a full set of corporate advantages
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