XOM – Oil & Gas 360

$53 billion Chevron-Hess deal may stall into 2025 over ExxonMobil’s claim to prolific assets offshore Guyana

June 24, 2024

World Oil Publisher’s Note: Chevron will be a presenter at the upcoming EnerCom Denver – The Energy Investment Conference on August 18-21, 2024. Register to attend. (WO) – The arbitration process to determine whether ExxonMobil can block the $53 billion sale of Hess Corp to Chevron is stalled due to the incomplete appointment of a third arbitrator, according to

Exxon beats profit forecasts with strong Q4 earnings

February 2, 2024

Oil Price ExxonMobil (NYSE: XOM) posted higher-than-expected earnings for the fourth quarter, while its full-year profit was the second-highest in a decade, as the U.S. supermajor boosted its Guyana and Permian production and achieved record annual refinery throughput. Exxon reported on Friday fourth-quarter 2023 earnings of $7.6 billion, or $1.91 per share assuming dilution. As previously flagged, the U.S. supermajor’s Q4 earnings were

ANALYSIS-California and Big Oil are splitting after century-long affair

January 30, 2024

Nasdaq It is the end of an era for Big Oil in California, as the most populous U.S. state divorces itself from fossil fuels in its fight against climate change. California’s oil output a century ago amounted to it being the fourth-largest crude producer in the U.S., and spawned hundreds of oil drillers, including some of the largest still in

Landmark climate trial turns on whether Exxon cooked the books

October 22, 2019

Houston Chronicle: Last month, millions of people around the globe gathered to protest what they consider a dangerous lack of vision among nations and industries when it comes to combating global warming, and the burning of fossil fuels that causes it. Chief among those singled out were the companies that have, for the better part of a century, profited from

Former Schlumberger CEO Recommended for Chairman Role at Borr Drilling

August 22, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Borr Drilling board of directors recommends appointment of Paal Kibsgaard as chairman The board of directors for Borr Drilling Limited (stock ticker: BORR), an international drilling contractor based out of Bermuda, has recommended former Schlumberger (stock ticker: SLB) CEO Paal Kibsgaard be appointed as the company’s new chairman, following a unanimous

ExxonMobil Stacks 2.7 Billion More Barrels into Reserves, Bringing 2017 Total to 21.2 Billion Barrels

February 8, 2018

Exxon Mobil Corporation (ticker: XOM) added 2.7 billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183% of 2017 production. ExxonMobil’s proved reserves totaled 21.2 billion oil-equivalent barrels at year-end 2017. Liquids represented 57% of the reserves, up from 53% in 2016. According to the company, ExxonMobil’s reserves life at current production rates is 14 years. During

ExxonMobil Plans to Ramp Up Drilling in Permian and Bakken

February 2, 2018

Exxon Mobil Corporation (ticker: XOM) reported 2017 earnings of $19.7 billion, compared to $7.8 billion in 2016 – this represents a 151% increase. Non-cash asset impairments of $1.5 billion were recorded during the year, mainly due to upstream assets. Q4 2017 earnings were $8.4 billion. Earnings excluding U.S. tax reform and impairments were $3.7 billion, which is down 2% compared with

It’s Time for Us to Stomp on the Permian Accelerator: Exxon

January 30, 2018

ExxonMobil says its tight oil production from Delaware and Midland basins will jump 5-fold by 2025 XOM plans to invest more than $2 billion in Permian terminal and transportation expansion ExxonMobil (ticker: XOM) generally does things on a big scale. Today the largest publicly traded international oil and gas company said it will triple total daily production from its operations in

stena carron exxon mobil drillship offshore guyana rig -oilandgas360

ExxonMobil Makes Fifth Discovery Offshore Guyana

October 5, 2017

Turbo-1 encounters a reservoir of 75 feet of high-quality, oil-bearing sandstone approximately 30 miles from Liza phase one Exxon Mobil Corporation (ticker: XOM) said it has made a fifth new oil discovery after drilling the Turbot-1 well offshore Guyana. Turbot joins a string of discoveries for XOM in Guyana including Liza, Payara, Snoek and Liza Deep. Exxon said that following completion

Premium Content