Exxon Says U.S, Canada Projects Pushed up 2012 Reserves

The Financial Post reported that Exxon Mobil Corp attributed much of the uptick in crude natural gas reserves in the world last year to new shale projects in the U.S. and heavy-oil developments in Canada.

As quoted in the market report:

Exxon added reserves equivalent to 1.8 billion barrels in 2012, raising its year-end total to 25.2 billion, the Irving, Texas-based company said in statement today. The additions were enough to replace 115 % of total output and 174% of its crude and liquids production.

To view the whole Financial Post report, click here.