Exxon Mobil – Page 31 – Oil & Gas 360

EU’s Early Ratification of Paris Climate Agreement Upends Trump Plan to “Cancel It”

October 5, 2016

President Trump likely would ignore it, President Clinton would champion it The European Union approved a fast-track ratification of the Paris climate change agreement yesterday, less than a year after it was signed in Paris, upending a Donald Trump promise to cancel the agreement if elected president. In September, in a ceremony in Hangzhou, China, the UN Secretary General received the

InterOil Shareholders Approve $2.5 Billion ExxonMobil Acquisition

September 23, 2016

Paying a contingent resource payment of $7.07 per IOC share for each Tcfe of resource in Elk-Antelope field above 6.2 Tcfe InterOil Corporation (ticker: IOC) announced today that more than 80% of its shareholders approved of the ExxonMobil Corporation (ticker: XOM) acquisition of the company. Exxon will acquire InterOil in an all-stock deal valued at $2.5 billion, with a contingent

Chevron, Exxon, and ConocoPhillips Remain Focused on U.S. Onshore, LNG

August 1, 2016

Q2 proves to be a disappointing quarter for majors like Chevron, ExxonMobil and ConocoPhillips in terms of earnings, but the companies remain focused on the future U.S.-based oil and gas majors Chevron (ticker: CVX), ExxonMobil (ticker: XOM), and ConocoPhillips (ticker: COP) all reported their second quarter earnings last week, each showing significant hits from the continued oil and gas downturn.

ExxonMobil Makes First Corporate Acquisition Bid since 2013

July 18, 2016

Oil major ExxonMobil looks to acquire natural gas producer InterOil Corp. for $2.5 billion ExxonMobil (ticker: XOM) has made a $2.5 billion all-stock offer for InterOil Corp. (ticker: IOC), a U.S.-listed company with natural gas assets in Papua New Guinea. The deal marks the first time that ExxonMobil has attempted to make a major corporate acquisition since its $2.6 billion

Chevron Approves $37 Billion Expansion in Kazakhstan

July 5, 2016

Chevron gives Tengiz Expansion in Kazakhstan the green-light, taking advantage of lower drilling prices Chevron Corporation (ticker: CVX) announced the first oil and gas investment to exceed $10 billion in 2016 with its decision to go ahead with an expansion on the Tengiz project in Kazakhstan. According to the company’s press release, Chevron and its partners plan to invest roughly

Exxon Mobil and Hess Corp. Announce World-Class Oil Discovery

June 30, 2016

The equivalent of 1,400 Gulf of Mexico Blocks: Tillerson Exxon Mobil (ticker: XOM) and Hess Corp. (ticker: HES) announced initial results from the Liza-2 exploration well in the Stabroek block of offshore Guyana. This announcement follow the success of the Liza-1 well in 2015. The results confirm a world-class oil discovery with estimated recoverable resource for the Liza prospect of

Job Security Comes at a Price for Chinese Oil and Gas Companies

March 29, 2016

Maintaining employment strains Chinese oil and gas firms’ shrinking profits Many international oil and gas companies have responded to the steep drop in prices since November 2014 by cutting expenditures. Companies have achieved better financial metrics by increasing efficiencies in their operations, and, in many cases, by reducing their workforce. Layoffs have been an unfortunate side effect of the price

Oil Companies Are Too Encumbered by Debt to Acquire: Tillerson

March 4, 2016

Very few attractive targets for takeover due to debt; doing deals has gotten harder, not easier The amount of debt oil and gas companies took on to fuel growth during the shale revolution has made them too encumbered to be attractive targets for acquisition ExxonMobil (ticker: XOM, ExxonMobil.com) CEO Rex Tillerson said. “It’s like buying a home with a big

Sabine Pass and Gorgon LNG Prepare for First Shipments

February 22, 2016

Cheniere expects first LNG cargo in the coming weeks from Sabine Pass Cheniere Energy (ticker: LNG, Cheniere.com) expects to load the first shipment of liquefied natural gas for export from the U.S. in the coming days. A LNG tanker docked in Cheniere’s Sabine Pass terminal Sunday as the company prepares to send the first cargo from the U.S. by the

Alaska Looks to Buy Out TransCanada’s Share of Alaska LNG for $68 Million

November 2, 2015

All parties seem to agree, but holdup remains The state of Alaska plans to buy out TransCanada’s (ticker: TRP) share of the Alaska LNG project. Both Alaska Governor Bill Walker and TransCanada have agreed to the deal, according to Alaska Dispatch News, but the funds necessary to purchase TransCanada’s share in the project still need to be approved. Alaska LNG

Australia’s Woodside Makes $8 Billion Bid for Oil Search

September 9, 2015

All stock offering would give Woodside growth potential Woodside Petroleum (ticker: WPL), Australia’s largest independent oil and gas company, announced that it has made a non-binding offer for Oil Search Ltd. (ticker: OSH) under which Woodside would acquire all of the shares in Oil Search for a consideration of one Woodside share for every four Oil Search shares, according to

ExxonMobil Increases Position in the Permian with 48,000 Acre Acquisition

August 11, 2015

ExxonMobil executes two deals for Permian acreage ExxonMobil (ticker: XOM) announced that it has acquired 48,000 acres in the core of the Midland Basin through the execution of two agreements. The agreements include an acquisition and farm-in adjoining XOM subsidiary XTO Energy’s existing acreage position in Martin and Midland Counties, providing rights to all intervals within the basin. The acreage

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