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ExxonMobil
80 articles mentioning ExxonMobil · Page 3 of 4
Exxon Adds Former Petronas CEO to Board
ExxonMobil Corp. reported that Tan Sri Wan Zulkiflee Wan Ariffin has joined its board of directors. With the election of Wan Zulkiflee, the ExxonMobil board will increase to 11 directors, 10 of whom are independent directors....
ExxonMobil Fourth Quarter, Full Year 2020 Results
ExxonMobil Corp. reported its Q4 and full year 2020 results. Exxon announced an estimated fourth quarter 2020 loss of $20.1 billion, or $4.70 per share assuming dilution. Fourth quarter capital and exploration expenditures were $4.8 billion,...
ExxonMobil Taps New VP / Controller
ExxonMobil Corp. has elected Len M. Fox as vice president and controller for the company, effective March 1, 2021. Fox will replace David Rosenthal, who is anticipated to retire on or about July 1, 2021. About...
ExxonMobil, Petronas Tout Discovery Offshore Suriname
ExxonMobil and PETRONAS have discovered hydrocarbons at the Sloanea-1 exploration well on Block 52 offshore Suriname. The well was drilled by operator PETRONAS to a total depth of approximately 15,682 feet (4,780 meters) using the Maersk...
Exxon to Cut 700 Houston-Based Employees from Workforce
ExxonMobil will lay off more than 700 workers in the Houston area, according to a warn notice sent to the Texas Workforce Commission. The compay previously disclosed it will cut its global workforce by about 15%,...
Exxon IDs 2021 Capital Budget, Asset Consolidation Plans
ExxonMobil has completed a review of its forward business plans and has detailed its preliminary plans for 2021. Highlights: Capital and exploration investments of $16-$19 billion in 2021 (down 24% at the midpoint compared to 2020...
Permian E&P to Ramp Up Well Completions in 2021
ExxonMobil provided a look into its Permian plans for 2021 during the most recent third quarter 2020 call. The biggest highlight is that the company plans to ramp up production in 2021 (the company has already...
Pipeline Update : One Million Barrels Per Day Permian Pipeline Commences Operations
MPLX LP has reported that the one million bbls / per day Permian pipeline has commence operations as of October 2020 and will be available to shipper and E&P companies in the fourth quarter. MPLX said...
ExxonMobil 3Q: IDs 2021 Capex Plan; Cuts Permian D&C Costs, Faster Drill Rates
Exxon Mobil Corp. reported its Q3 2020 results. Preliminary 2021 Plan - Down 24% from 2020 For 2021, Exxon's capital plan is expected to be in the range of $16 billion to $19 billion, a reduction...
Exxon Extends Offshore Guyana Work with Noble Corp.
Noble Corp. announced that the ultra-deepwater drillship Noble Tom Madden has been awarded approximately 6.5 years of additional contract term under the Commercial Enabling Agreement (CEA) with ExxonMobil for work offshore Guyana. The Noble Tom Madden...
NGL Energy Partners Signs Water Management Agreement with XTO/Exxon
NGL Energy Partners signed a Partnership and has begun receiving produced water from XTO Energy’s (a subsidiary of ExxonMobil Corp.) Poker Lake Development in the Delaware Basin. These volumes represent full commissioning of NGL’s 30-inch pipeline,...
Exxon, Partners Hit 18th Discovery Offshore Guyana
ExxonMobil and partners (Hess Corp. and CNOOC Ltd.) have made its 18th discovery offshore Guyana at the Redtail-1 well. This will add to the previously announced estimated recoverable resource of more than 8 billion oil-equivalent barrels...
Exxon Restricts Output at Stabroek Asset Offshore Guyana; 100,000 BPD Cap
ExxonMobil is restricting oil output at its Stabroek asset offshore Guyana, according to a report by Reuters. Currently, output is being capped at 100,000 BPD. The company cited problems with natural gas compression / injection as...
Exxon Outlines Drilling & Frac Strategy for Permian 2020
ExxonMobil provided an update to its Permian Development plan. First we should note that Exxon is the largest drilling company in the Permian with some 30 rigs operating across the midland and delaware basins. Notes Cutting...
ExxonMobil Expecting $2.3B Loss for Q2 2020
ExxonMobil has reported its preliminary results for Q2 2020 in its latest 8-K filed with the SEC. In it, the company notes it expects to its second quarterly loss in a row for Q2 (the company...
ExxonMobil's President of Upstream Biz to Retire
ExxonMobil has announced that Steve Greenlee, president of ExxonMobil Upstream Business Development Co., has elected to retire on July 1 after more than 38 years of service. In addition to her current role as president of...
Oil Shut-In MONITOR : E&P Planning to Shut-In/Curtail 1 Million Barrels In May, 1.1 MMbbls/d in June
As operators continue to adjust their 2020 plans to combat market woes, we are taking a look at all the E&Ps who have announced that they will be curtailing production. Most of the curtailments have been...
ExxonMobil Details First Quarter 2020 Results
ExxonMobil reported its Q1 2020 results. Q1 Financials The company reported an estimated first quarter 2020 loss of $610 million, or $0.14 per share assuming dilution, compared with earnings of $2.4 billion a year earlier. Results...
Exxon to Cut Permain Rig Count 75% by Year-End; Capex Cut
ExxonMobil Corp. is getting ready for a massive rig cut in the Permian for 2020. In its Q1 report, the company said it will cut its Permian rig count by 75%, dropping from 50 rigs to...
Exxon Axes 2020 Capex 30% to $23B; Permian to See Bulk of the Cuts
ExxonMobil is reducing its 2020 capital spending by 30% and lowering cash operating expenses by 15% in response to the current market conditions. 2020 Capex Lowered 30%; Permian to See Bulk of Cuts Exxon now plans...