February 15, 2011 / 3:21 PM / in 7 years

CORRECTED - UPDATE 2-Exxon Mobil reserves jumped in 2010

(Corrects to show additions were double production level in first paragraph)

* Reserves 47 pct liquids, 53 pct gas

* Gas replacement ratio 328 pct

NEW YORK, Feb 15 (Reuters) - Exxon Mobil Corp XOM.N said its oil and gas reserve additions last year were double its production, marking the biggest jump in more than a decade, with gains fueled partly by the oil company’s purchase of XTO Energy Inc.

Exxon said the reserve additions were the highest since the merger of Exxon and Mobil in 1999.

Exxon, the world’s largest publicly traded company, said it increased its proved reserves by 3.5 billion oil equivalent barrels, or 209 percent of its production, bringing its reserve base to 24.8 billion oil equivalent barrels.

Reserve additions from acquisitions and subsequent revisions totaled 3 billion oil-equivalent barrels. Additions also came from the Sakhalin-1 Arkutun Dagi project in Russia and other countries including Canada, the United States, Nigeria, Norway and Abu Dhabi, the Irving, Texas, company said.

Liquid additions totaled 905 million oil-equivalent barrels for a 102 percent replacement ratio and gas additions totaled 2.6 billion oil-equivalent barrels for a 328 percent replacement ratio.

Exxon purchased U.S. natural gas company XTO last year, in a deal aimed at increasing Exxon’s shale gas business in the United States and around the world. In its long-term outlook, Exxon sees natural gas demand growing, fueled primarily by power demand in developing countries.

The proved reserves base is split between 47 percent liquids and 53 percent gas, and includes oil sands extracted by mining and equity company reserves.

Exxon’s shares fell $1.62, or 1.9 percent to $83.29 in early trading on the New York Stock Exchange. (Reporting by Matt Daily and Anna Driver in Houston, editing by Dave Zimmerman)

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