The ratings on ExxonMobil Corp. reflect the company's outstanding competitive position in all facets of the oil and gas industry as well as its minimal financial risk. Although Irving, Texas-based ExxonMobil operates in many segments of the energy industry, its exploration and production (E&P) unit is by far the most important contributor to profitability and cash flow, and is the driver of future growth. ExxonMobil's proved reserves total about 22 billion barrels of oil equivalent (boe), giving the company one of the largest resource bases of all national and international oil companies. Depletion risks are mitigated by a long reserve life (13.9 years) and a large resource base (estimated at 73 billion boe) from which future commercial projects are likely
