ExxonMobil Earnings Miss Lofty Expectations on Weather and Timing Impacts, Takes Charges of $3.4 billion on Russian Exit.

Oil giant ExxonMobil reported first quarter earnings Friday that missed lofty expectations on a quarter where oil and natural gas prices hit long term highs. The quarter included charges of $3.4 billion, or 79 cents a share, from $XOM’s exit of Russia. Exxon boosted its stock repurchase program to up to $30 billion through 2023. Chevron also reported today. ExxonMobil Inc. (NYSE: $XOM) Reported Earnings Before Open Friday  $2.07 Missed $2.23 EPS and $90.50B Beat $82.8 billion revenue forecast Conference … Continue reading “ExxonMobil Earnings Miss Lofty Expectations on Weather and Timing Impacts, Takes Charges of $3.4 billion on Russian Exit.”

Occidental Petroleum Earnings Show the Difference a Year Makes with Oil Prices Up 85%

Occidental Petroleum reported better than expected fourth quarter earnings on Thursday from a year-ago loss on higher-than-forecast U.S. production and crude prices. $OXY is the biggest Permian Basin producer. ExxonMobil, Chevron and Diamondback reported earlier. Beyond The Survival Mode In The Oil Patch Guidance on exploration and production spending is key since oil prices collapsed and natural gas prices have continued to soar. Now with the change in shift in US politics and the COVID affect with the recent Russian attack … Continue reading “Occidental Petroleum Earnings Show the Difference a Year Makes with Oil Prices Up 85%”

ExxonMobil Delivers Big Earnings, Continues to Pay Down Debt as Oil and Gas Prices Surge

Oil giant ExxonMobil reported better than expected fourth quarter earnings Tuesday as oil and natural gas prices hit long term highs. Cash flow generation saw XOM pay down debt by an additional $9 billion, bringing the full-year reduction to $20 billion. Last week Chevron missed on production and gave a tempered near-term outlook. $XOM shares hit a new 52 week high after the release. ExxonMobil Inc. (NYSE: $XOM) Reported Earnings Before Open Tuesday  $2.05 Beat $1.93 EPS and $85.00B Missed … Continue reading “ExxonMobil Delivers Big Earnings, Continues to Pay Down Debt as Oil and Gas Prices Surge”

ExxonMobil Deliver Strong Earnings, Raises Cash Flow, Pays Down Debt and Raises Dividend

Oil giant ExxonMobil reported better than expected third quarter earnings Friday as oil and natural gas prices hit long term highs. Crude oil and natural gas prices are now up 130% and 70% yr/yr . Cash flow generation saw XOM pay down $4 bln in debt this quarter, the year-to-date total to $11 bln.

Global Supply Chain Contagion Hits Oil Service Firm Baker Hughes Earnings

Energy services company Baker Hughes,reported weaker than expected third quarter earnings on Wednesday before the market open. Oilfield services were negatively impacted by Hurricane Ida and supply chain problems. $BKR peers Halliburton reported Monday and Schlumberger reports Friday.

ExxonMobil Deliver Strong Earnings With Record Chemical Profits as Plastic Prices Surge

Oil giant ExxonMobil reported better than expected second quarter earnings Friday as oil and natural gas prices hit long term highs after the Covid pandemic. The chemical segment hit record profits with surging plastic prices.

ExxonMobil Reports First Annual Loss in Over Thirty Years as XOM Moves On Carbon Capture

Oil giant ExxonMobil reported its fourth quarter earnings Friday with its fourth quarterly loss in a row. The Covid pandemic caused plunging oil demand within a supply glut but early stages of demand recovery are seen. Q1 was $XOM’s first quarterly loss in 32 years, leading to the first annual loss in that time. XOM’s new focus is on carbon capture energy-transition technologies

ExxonMobil Posts Third Straight Quarterly Loss But Seeing Early Demand Recovery

Oil giant ExxonMobil reported better than expected third quarter earnings Friday with its third quarterly loss in a row. The Covid pandemic has caused plunging oil demand within a supply glut but Exxon said seeing “early stages of demand recovery.” . Q1 was $XOM’s first quarterly loss in 32 years.

Occidental Petroleum Posts Loss of $8.35 Billion in Second Quarter on Slashed EnergyPrices

Occidental Petroleum reported for the second quarter on Monday a loss of $8.13 billion including impairment charges of $6.6 billion.  $OXY is the biggest Permian Basin producer is living on a knife edge. ExxonMobil , Chevron and Diamondback reported a much sounder position. Survival Mode In The Oil Patch Guidance on exploration and production spending is key since oil prices collapsed and natural gas prices have continued to fall, with U.S. drilling and production still at high levels despite the … Continue reading “Occidental Petroleum Posts Loss of $8.35 Billion in Second Quarter on Slashed EnergyPrices”

ExxonMobil Posts Another Quarterly Loss With Global Shutdown Damage

Oil giant ExxonMobil reported worse than expected second quarter earnings Friday with its second quarterly oss in a row. The Covid pandemic caused plunging oil demand within a supply glut. Last quarter was $XOM’s first quarterly loss in 32 years.