Someone posted a while ago that ExxonMobil might sell Imperial Oil, and another post stated that Imperial Oil might see Kearl.
Now here is the interesting fact: Kearl alone is 19% of ExxonMobil’s total proven reserve. I can bet, no one will dare sell Kearl. The stock price of ExxonMobil and Imperial Oil will just drop to the bottom. So, no one will dare sell Kearl
Here is the calculation from Copilot:
Here’s a refined breakdown of how much of ExxonMobil’s proved reserves come from Imperial Oil and specifically from the Kearl project:
🌍 1. ExxonMobil’s Total Proved Reserves
• At the end of 2023, ExxonMobil reported about 16.93 billion barrels of oil equivalent (boe) in proved reserves 1.
🛢️ 2. Reserves From Imperial Oil
Imperial Oil is approximately 69.6% owned by ExxonMobil 23. Its operated reserves (which include bitumen) are included in Exxon’s broader totals. Notably:
• Exxon’s total bitumen reserves are reported at 2.414 billion barrels 1.
• Since Imperial operates the Kearl and other bitumen assets, it's reasonable to attribute most of that bitumen figure back to Imperial.
Calculation: 2.414 B bbl / 16.93 B bbl ≈ 14.3%
So, roughly 14% of ExxonMobil’s total proved reserves originate from Imperial Oil.
⛏️ 3. Reserves From the Kearl Oil Sands Project
• The Kearl project holds about 4.6 billion barrels of reserves 45.
• Exxon’s effective share of Kearl is through Imperial’s 69.6% ownership; therefore:
• 4.6 B × 0.696 ≈ 3.2 B barrels attributable to Exxon.
• As a percentage of Exxon’s total proved reserves:
• 3.2 B / 16.93 B ≈ 18.9%
Thus, approximately 19% of ExxonMobil's reserves stem from the Kearl oil sands project.