ExxonMobil Details Risk Management Practices for Unconventional Resources Development
IRVING, Texas--(BUSINESS WIRE)-- ExxonMobil today released a report that outlines for shareholders how the company assesses and manages risks associated with developing unconventional resources, including through hydraulic fracturing.
“Hydraulic fracturing has been responsibly and safely used by the oil and gas industry for more than 60 years, but the process isn’t without risks,” said Jeffrey Woodbury, vice president of Investor Relations. “This report to shareholders details how ExxonMobil uses sound risk management processes and engages with stakeholders to ensure safe and environmentally responsible operations.”
Unconventional natural gas and oil development in the United States has resulted in widespread benefits, including significant job creation, reduced carbon dioxide emissions, lower energy costs, new sources of government revenue and improved energy security. The report highlights numerous studies that support these trends.
The report presents information on how the application of sound risk management practices that protect human health and the environment can be deployed to continue supporting the significant benefits of resource development.
Release of the report is part of an ongoing dialogue between ExxonMobil and its shareholders about important matters. The report to shareholders is available at www.exxonmobil.com/hfreport. Additional information about unconventional resources development and hydraulic fracturing can be found in ExxonMobil’s Outlook for Energy and Corporate Citizenship Report on ExxonMobil’s website www.exxonmobil.com.
Cautionary Statement: Statements of future events or conditions discussed in The Outlook or this release are forward-looking statements. Actual future conditions (including economic conditions, energy demand, international trade flows, energy supply sources, impacts of new technology, and efficiency gains) could differ materially due to changes in law or government regulation and other political events; changes in technology; the development of new supply sources; demographic changes; and other factors discussed in The Outlook and under the heading "Factors Affecting Future Results" on the Investors page of our website at www.exxonmobil.com. See also Item 1A of ExxonMobil's latest Form 10-K.
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 www.twitter.com/exxonmobil.
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Source: Exxon Mobil Corporation
Released September 30, 2014