Exxon boosted reserves by 1.5 bn barrels in 2008

ExxonMobil said it boosted its proven reserves last year by 1.5 bn oil-equivalent barrels, more than replacing the amount of oil and natural gas the company produced.
The Irving oil giant said the additional reserves, underground oil and natural gas that can one day be produced, amount to 103 % of the resources Exxon produced last year. Basically, Exxon is finding more oil and gas than it produces.

"Adding new reserves ensures that ExxonMobil will continue to develop new supplies of energy that will be critical to help meet the world's growing needs into the future," said Chief Executive Rex Tillerson.
The company said it had 22.8 bn oil-equivalent barrels of reserves at the end off 2008, split about evenly between oil and natural gas.