Exxon continues to power higher after earnings, conference call


"We’re starting to deliver,” ExxonMobil (XOM +1.9%) exec David Rosenthal says in today's earnings call after Q3 results beat expectations - "We are starting to deliver on the commitments that we made... Our main projects are on schedule and on budget.”

Operations are running well this year, with little downtime and good turnaround in liquid volumes, Rosenthal says; because of shipping schedules, XOM didn’t load as much crude in Q3 as it could have, so that oil was not counted in overall production figures - if it had been, XOM would have earned ~$100M more, he says.

Says XOM is considering other logistical options to transport crude from its Kearl oil sands field crude, including construction of a terminal in Edmonton to load the oil on rail cars for shipment to U.S. refineries.

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Comments (1)
  • geologist
    , contributor
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    In the past Exxon didn't do great on their earnings, during these weaker earnings periods, but it never has been driven down in its price per share either. Now it is shaping up to produce better earnings, specially the liquids production. Should be interesting to see how earnings from here on out shape up. Regards.
    31 Oct 2013, 10:23 PM Reply Like
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