ExxonMobil to Increase Production and Acreage in Bakken Oil Shale Region

  ExxonMobil to Increase Production and Acreage in Bakken Oil Shale Region

  *Agreement enables exchange of properties by ExxonMobil and Denbury
  *ExxonMobil’s Bakken acreage to increase by 50 percent to nearly 600,000

Business Wire

IRVING, Texas -- September 20, 2012

Exxon Mobil Corporation (NYSE:XOM) today announced an agreement that will
significantly increase its production acreage in the prolific Bakken oil shale
region in the U.S. states of North Dakota and Montana.

ExxonMobil and its subsidiary, XTO Energy, signed an exchange agreement with
Denbury Onshore, LLC, a subsidiary of Denbury Resources Inc., to acquire 100
percent of Denbury’s Bakken shale assets, which consist of approximately
196,000 net acres in North Dakota and Montana, with expected production in the
second half of 2012 of more than 15,000 oil equivalent barrels per day.

The agreement increases ExxonMobil’s holdings in the Bakken region by about 50
percent to nearly 600,000 acres, giving the company a significant presence in
one of the major U.S. growth areas for onshore oil production.

“This agreement provides a strategic addition to ExxonMobil’s North American
unconventional resource base,” said Andrew P. Swiger, senior vice president of
Exxon Mobil Corporation. “ExxonMobil’s financial and technical strength will
support continued development of America’s natural resources, which
strengthens U.S. energy security while creating jobs and new government
revenues for vital services.”

In exchange for its Bakken shale assets, Denbury will receive $1.6 billion in
cash and acquire ExxonMobil’s interests in the Hartzog Draw field in Wyoming
and Webster field in Texas, which currently produce about 3,600 net oil
equivalent barrels per day of natural gas and liquids.

The Bakken shale acreage will be operated by ExxonMobil subsidiary XTO Energy,
which is a leading U.S. oil and natural gas producer and has expertise in
developing tight gas, shale gas, coal bed methane and unconventional oil
resources. XTO has operations in all major U.S. producing regions.

The agreement is subject to regulatory approval and due diligence reviews.

CAUTIONARY STATEMENT: Expectations, business plans, and other statements of
future events or conditions in this release are forward-looking statements.
Actual future results, including project plans and timing and production
rates, could differ materially due to changes in market conditions affecting
the oil and gas industry or long-term oil and gas price levels; the timing and
terms of regulatory approvals and other regulatory developments; the outcome
of commercial negotiations and satisfaction of contractual closing conditions;
reservoir performance; technical or operating factors; and other factors
discussed under the heading "Factors Affecting Future Results" in the
Investors section of our website (www.exxonmobil.com) and in Item 1A of our
most recent Form 10-K. References to quantities of oil and gas in this release
include volumes that are not yet classified as proved reserves but that we
believe will be produced in the future.

About ExxonMobil

ExxonMobil, the largest publicly traded international oil and gas company,
uses technology and innovation to help meet the world’s growing energy needs.
ExxonMobil holds an industry-leading inventory of resources, is the largest
refiner and marketer of petroleum products, and its chemical company is one of
the largest in the world. Follow ExxonMobil on Twitter at


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