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ExxonMobil exploration expenses

The chart above displays the net exploration costs of Exxon Mobil including Dry holes from 2012 to 2023. In 2022, the exploration costs of Exxon Mobil reached $1,025 million compared to $1,054 million in 2021. However, the company experienced significant growth in its net operating revenue in 2022 compared to the prior year. Its total revenue for 2022 reached $398.7 billion compared to $276.7 billion in 2021.


Exploration Expenses of Exxon Mobil 1998-2022

Amounts are in $millions.

YearExploration Expenses ($mn)
2022$1,025
2021$1,054
2020$1,285
2019$1,269
 2018$     1,466
2017 $       1,790 
2016 $       1,467 
2015 $       1,523 
2014 $       1,669 
2013 $       1,976 
2012 $       1,840 
2011 $       2,081 
2010 $       2,144 
2009 $       2,021 
2008 $       1,451 
2007 $       1,469 
2006 $       1,181 
2005 $          964 
2004 $       1,098 
2003 $       1,010 
2002 $          920 
2001 $       1,175 
2000 $          936 
1999 $       1,246 
1998 $       1,506 

In 2021, Exxon Mobil’s exploration expenses were $1,054 million compared to $1,285 million in 2020.

Exploration expenses of Exxon Mobil were $1.5 billion in 2018 compared to $1.8 billion in 2017.

ExxonMobil is the world’s largest publicly traded international oil and gas company which has been an industry leader in this area for more than 135 years. The company has remained among the world’s largest companies for past several years based upon its revenue. In 2017, its exploration expenses reached 1.8Billion dollars, rising from 1.5 Billion dollars in 2016.