Exxon Mobil – Page 30 – Oil & Gas 360

With Big Players Come Big Rig Counts: XOM, COP, CVX Report Q2

July 28, 2017

In the past two days ExxonMobil Corporation (ticker: XOM), Chevron Corporation (ticker: CVX), and ConocoPhillips (ticker: COP) all reported second quarter earnings and gave operational updates. ExxonMobil ExxonMobil earned $3.4 billion in Q2, which brought the company’s earnings for the year-to-date to $7.4 billion. This represents a 97% improvement from the same quarter of 2016—in which Exxon earned $1.7 billion.

Exxon Discovers More Oil at Offshore Guyana Block

July 25, 2017

In its Payara reservoir, offshore of Guyana, ExxonMobil Corp. (ticker: XOM) discovered an additional accumulation of oil. The discovery increased ExxonMobil’s estimated oil in the Payara reservoir to 500 MMBOE, and the total estimated gross recoverable resource in the Stabroek Block to between 2.25 and 2.75 BBOE. Esso Exploration and Production Guyana Limited, an affiliate company of ExxonMobil, found 59

ExxonMobil Responds to NY Attorney General’s Allegations

June 9, 2017

ExxonMobil Corp. lambasted New York Attorney General Eric Schneiderman after he made what Exxon calls, “inflammatory, reckless, and false allegations,” regarding the manner in which the company evaluates the impact of global warming on its assets and operations. The NY AG’s stance is that ExxonMobil misled investigators in its use of proxy costs to estimate carbon impact. ExxonMobil uses proxy

The Best Acquisitions Are Not All in the Permian: a Comparison of 4 U.S. Deals

March 14, 2017

Markets reward companies making good transactions, but sometimes even the Permian can’t move the needle The most recent downturn in oil and gas prices has forced the industry to find the most economic acreage available in order to generate returns and attract investors. It’s no secret that for many companies, that has meant buying Permian acreage, particularly the stacked zones

ExxonMobil Takes $2.8 Billion Dive Offshore

March 10, 2017

ExxonMobil acquires a 25% stake in Eni’s Mozambique offshore project ExxonMobil (ticker: XOM) announced Friday that the company has purchased a 25% indirect interest in the natural gas Area 4 block offshore Mozambique from Eni (ticker: E) for $2.8 billion. Eni currently holds a 50% indirect share in the block through a 71.4% stake in Eni East Africa, which owns

ExxonMobil/XTO Doubles Permian Footprint with $6.6 Billion Acquisition of Bass Family Assets

January 18, 2017

ExxonMobil now has 6 billion BOE of resources in the Permian, with 3.4 billion BOEs in the Delaware ExxonMobil Corporation (ticker: XOM) announced that the company will more than double its Permian Basin resources to 6 billion BOE through the acquisition of companies owned by the Bass family of Fort Worth, Texas. The Permian assets purchased from the Bass family

Tillerson and ExxonMobil Establish Plan to Eliminate Conflicts of Interest

January 4, 2017

Secretary of State Nominee Rex Tillerson will put two million shares of ExxonMobil into a blind trust Former CEO of ExxonMobil (ticker: XOM) Rex Tillerson has reached an agreement with the company to eliminate any conflicts of interests he has in order to serve as secretary of state in the Donald Trump administration, Exxon said in a press release Tuesday.

ExxonMobil Announces New Gas Discovery Offshore Papua New Guinea

December 28, 2016

ExxonMobil says the Muruk-1 well has encountered “high-quality” sandstone similar to the Hides field ExxonMobil (ticker: XOM) announced a new natural gas find Wednesday off the coast of Papua New Guinea. The Muruk-1 well encountered “high-quality” sandstone reservoirs similar to those at Hides field. The Muruk-1 was drilled to a depth of 10,630 feet 13 miles northwest of the Hides Gas

ExxonMobil Names New Chief Executive

December 15, 2016

Tillerson to Retire Dec. 31, Darren Woods will take over as ExxonMobil Chairman, CEO With his pending transition to U.S. Secretary of State, ExxonMobil (ticker: XOM) Chairman and CEO Rex Tillerson has announced his intention to retire from XOM at year-end, and Darren W. Woods, who is currently president of the company, has been named by the board of directors to replace Tillerson as

Tillerson Chosen for Secretary of State

December 13, 2016

ExxonMobil Chairman and CEO chosen to be the United States’ most powerful diplomat, 4th in line to succeed the president President-elect Donald Trump announced Tuesday that his pick for secretary of state will be ExxonMobil Corp. (ticker: XOM) Chairman and CEO Rex Tillerson. “His tenacity, broad experience and deep understanding of geopolitics make him an excellent choice for Secretary of

WoodMac: Onshore and Offshore Oil Now have More in Common

Executive Changes at ExxonMobil

December 6, 2016

Following Tom Walters’ retirement, Neil Duffin will be president of ExxonMobil Production Company; Liam Mallon to be President of ExxonMobil Development Company Tom Walters, president, ExxonMobil (ticker: XOM) Production Company, has announced his intention to retire from the company after more than 38 years of service. Current president of ExxonMobil Development Company, Neil Duffin, will take over the job of

Chad Hits ExxonMobil-led Consortium with $75 Billion Fine on $819 Million in Unpaid Royalties

October 10, 2016

Court decision would see Exxon pay Chad nearly seven-times the country’s GDP in penalties A court decision handed down in the African country of Chad ordered international oil major ExxonMobil (ticker: XOM) to pay 44 trillion CFA francs ($75 billion) in connection to unpaid royalties. The company said it disagreed with the court decision, which would see the company pay

Premium Content