Energy giant ExxonMobil, the largest U.S. oil company, reported better than expected fourth-quarter earnings Tuesday but revenue fell short of estimates. Revenue rose to $95.429 billion from $84.965 billion a year ago, below the $97.345 billion FactSet consensus. XOM delivered its highest-ever annual profit in 2022 fueled by surging oil prices to resurrect it as one of America’s most profitable companies and erase billions of dollars of losses incurred during the pandemic. Exxon reaped the benefits of its countercyclical investments … Continue reading “Exxon Mobil Benefits from Countercyclical Investments Delivering Record Annual Profit”
Energy giant ExxonMobil, the largest U.S. oil company, reported better than expected third-quarter earnings Friday and raised their dividend to reward shareholders. $XOM was boosted by rising oil-equivalent production, higher realized energy prices, strong refining margins and cost cuts. XOM’s third quarter profit was $19.66 billion up from $17.9 billion, its highest ever. The Covid crisis had primed the company for survival and efficiency and as such benefit from lucrative refining. Fellow American Oil giant Chevron posted Q3 net income … Continue reading “Exxon Mobil Delivers Record Profits Sending XOM Shares to All Time Highs”
Energy giant ExxonMobil, the largest U.S. oil company, announced Wednesday two new discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block offshore Guyana. XOM has made over 30 discoveries on the block since 2015. ExxonMobil reports its third-quarter profit earnings before the market open Friday. $XOM has been boosted by rising oil and fuel production, higher energy prices and cost cuts. After the news XOM traded up at $107.40 +1.52 or 1.44% just short of it’s all time … Continue reading “Ahead of Earnings ExxonMobil Announce Two New Discoveries Offshore Guyana”
Energy giant ExxonMobil, the largest U.S. oil company, reported its second-quarter profit rose to $17.9 billion, its highest ever and nearly four times the same period a year ago. $XOM was boosted by rising oil and fuel production, higher energy prices and cost cuts. The Covid crisis had primed the company for survival and efficiency and as such benefit from lucrative refining. Fellow American Oil giant Chevron also posted a record profit Friday of $11.6 billion, up from $3.1 billion … Continue reading “Exxon Mobil Joins Shell and Chevron with Record Quarterly Profits”
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 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%”
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”
Exxon Mobil on Monday put it’s Barnett Shale holdings that include 2,700 wells across about 182,000 acres in North Texas up for sale. The producing properties are valued at between $400 million and $500 million, according a person familiar with the matter Reuters said. Barnett Shale was the site the first horizontally drilled shale wells. Exxon is in a position to take advantage of skyrocketing natural gas properties across the world. U.S. gas prices are up 75% year to date, … Continue reading “Exxon Puts Texas Barnett Shale Gas Properties Up For Sale”
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.
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.