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 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
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 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 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
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 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
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
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
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
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
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
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