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Exxon earnings miss estimate as production falls, -1.4% premarket

  • ExxonMobil (XOM) -1.4% premarket as Q4 earnings dropped 16% Y/Y as it pumped less crude and natural gas; revenues fell 3.3% Y/Y to $110.86B, below $114.94B analyst consensus estimate.
  • E&P operating earnings fell 13% to $6.79B, as production declined 1.8% on an oil-equivalent basis.
  • Operating earnings in the refining and marketing business fell 48% to $916M on weaker margins, mainly in refining.
  • XOM and Statoil (STO) announce a fifth discovery in Block 2 offshore Tanzania; the discovery of an additional 2T-3T cf of natural gas in place in the Mronge-1 well brings total gas resource estimate to 17T-20T cf.
Comments (6)
  • Exxon the MSFT of the oil services.
    30 Jan, 09:21 AM Reply Like
  • Exxon's earnings dropped 16% and its shares fall. Shell's profit craters 71% and its shares rise. Go figure.
    30 Jan, 10:04 AM Reply Like
  • There was a time when oil told a story, still does
    30 Jan, 11:27 AM Reply Like
  • the bottom line is that it ain't so cheap to produce oil from those giant projects. we are going not going to be living in a sub $85 oil environment anytime soon. this tells me the shale oil players are undervalued.
    30 Jan, 12:23 PM Reply Like
  • $XOM - buying back $3B shares this Quarter -- as a long time investor, I enjoy seeing price pullback as a catalyst for moving more shares out of the market. Coincidentally, WEB has always encouraged companies to buyback shares. Perhaps that was the primary reason he bought a few billion dollars worth of XOM stock in the last few months.

     

    $XOM's mgmt really has their heads in the game. Amazing company and great mgmt team.
    30 Jan, 01:32 PM Reply Like
  • yes, that's true. xom has great management. that they and shell are both having problems controlling costs tells me that the idea of cheap oil isn't going to happen if even the best in class can't control cost creep. they may come up with huge new finds, but they aren't going to extract it and make money with oil prices under $90, or even $100.
    31 Jan, 08:49 AM Reply Like
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