Exxon Mobil Corporation
 (XOM)

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  • Mon, Jan. 4, 9:03 AM
    • December monthly performance was: -1.18%
    • AUM of $580M
    • 52-week performance vs. the S&P 500 is: -1%
    • $0.10 in dividends were paid in December
    • Top 10 Holdings as of 11/30/2015: Exxon Mobil Corporation (XOM): 4.98%, Microsoft Corp (MSFT): 4.49%, Apple Inc (AAPL): 4.18%, Altria Group Inc (MO): 3.37%, McDonald's Corp (MCD): 2.94%, PepsiCo Inc (PEP): 2.93%, Home Depot Inc (HD): 2.4%, Intel Corp (INTC): 2.31%, International Business Machines Corp (IBM): 2.02%, AbbVie Inc (ABBV): 1.96%
    | Mon, Jan. 4, 9:03 AM | 2 Comments
  • Mon, Jan. 4, 9:02 AM
    • December monthly performance was: -0.5%
    • AUM of $1.74B
    • 52-week performance vs. the S&P 500 is: -3%
    • $0.25 in dividends were paid in December
    • Top 10 Holdings as of 11/30/2015: Apple Inc (AAPL): 3.5%, Microsoft Corp (MSFT): 3.48%, Exxon Mobil Corporation (XOM): 3.24%, General Electric Co (GE): 3.13%, AT&T Inc (T): 2.94%, Verizon Communications Inc (VZ): 2.68%, Johnson & Johnson (JNJ): 2.24%, Wells Fargo & Co (WFC): 2.19%, Chevron Corp (CVX): 2.12%, Pfizer Inc (PFE): 2.04%
    | Mon, Jan. 4, 9:02 AM
  • Dec. 23, 2015, 11:29 AM
    • Nuverra Environmental Solutions (NES +1.7%) says it will cancel its Bakken Shale water gathering contract in McKenzie County, N.D., with Exxon Mobil (XOM +2.1%) subsidiary XTO Energy due to the dramatic change in market conditions since the contract was executed in November 2014.
    • "With current low oil prices and substantially reduced drilling activities, there is significant uncertainty regarding customer activities in 2016. Because of these and other factors, we were compelled to end the contract," NES says.
    • NES says it remains committed to its long-term water midstream growth strategy.
    | Dec. 23, 2015, 11:29 AM | 4 Comments
  • Dec. 16, 2015, 6:55 PM
    • January Los Angeles CARBOB differentials surged $0.14 to a $0.42/gallon premium to the Nymex RBOB contract, the highest premium since early September, as west coast refinery problems mount.
    • Four California refineries are either at reduced rates or have units shut for unplanned maintenance: Tesoro's (NYSE:TSO) 265K bbl/day Carson refinery has delayed the restart of its fluid catalytic cracker, TSO's 166K bbl/day Martinez plant is just starting to return to planned rates after work, Chevron's (NYSE:CVX) 269K bbl/day refinery is at reduced rates after a fire shut the crude unit, and Exxon's (NYSE:XOM) 87.5K bbl/day cracker at its Torrance remains shuttered after a long run of complications.
    | Dec. 16, 2015, 6:55 PM | 9 Comments
  • Dec. 16, 2015, 5:17 PM
    • The cost to produce crude oil from Alberta’s oil sands dropped this year after 15 years of continuous inflation, according to a new report from IHS Energy, as capital and operating costs in the region have fallen in response to collapsing global oil prices.
    • But the findings do not mean the oil sands are now a more competitive choice for energy companies’ investment dollars compared with shale or offshore oil formations, as costs across the global energy industry also have dropped.
    • The report also says 70% of oil sands production growth over the next five years will come from the expansion of existing projects, and 80% of that growth will be from steam-based, rather than mining, projects.
    • Relevant tickers: SU, CVE, OTCPK:HUSKF, OTCQX:COSWF, RDS.A, RDS.B, IMO, XOM, CNQ, ENB, TRP, OTCPK:MEGEF
    | Dec. 16, 2015, 5:17 PM | 34 Comments
  • Dec. 15, 2015, 2:11 PM
    • Exxon Mobil's (XOM +4.3%) plan to spend ~$229M to develop the Vaca Muerta shale play in Argentina is approved by the Neuquen provincial government, which could lead to full scale development on XOM’s holdings in the Neuquen basin.
    • XOM plans to drill five horizontal wells with laterals of up to 2,500 meters (8,202 ft.), and to build an oil separation and storage facility and a natural gas pipeline, among other infrastructure on the adjacent blocks.
    • After the pilot stage, XOM and partners plan to invest an additional $13.8B in the mass development of the blocks by drilling 556 horizontal wells, the government says.
    • XOM is today's best performing stock among the 30 Dow components thanks to a snap-back in crude oil prices.
    | Dec. 15, 2015, 2:11 PM | 5 Comments
  • Dec. 14, 2015, 6:05 PM
    • Exxon Mobil (NYSE:XOM) says it started operations at the onshore processing facility at the Banyu Urip field in Indonesia that will help boost oil production to more than 130K bbl/day of oil.
    • The project consists of 45 wells producing from three well pads, an onshore central processing facility, a 60-mile onshore and offshore pipeline, and a floating storage and offloading vessel and tanker loading facilities in the Java Sea.
    • Once in full service, the field will represent ~20% of Indonesia’s 2016 oil production target.
    | Dec. 14, 2015, 6:05 PM | 7 Comments
  • Dec. 11, 2015, 7:26 PM
    • Alberta's provincial government says it will delay the release of a controversial review of royalty rates paid by oil and gas producers until early next year.
    • Premier Notley and her NDP party had promised to reassess royalty rates on energy production as part of an election campaign that swept them into office earlier this year, but the review has drawn sharp criticism in the oil patch and from opposition parties because it comes as the province and energy industry struggle with tanking oil prices.
    • Alberta's energy minister has said any changes in royalty rates would not take effect before 2017, a move intended to ease the impact on the energy industry.
    • Relevant tickers: SU, CVE, OTCPK:HUSKF, OTCQX:COSWF, RDS.A, RDS.B, IMO, XOM, CNQ, ENB, TRP, OTCPK:MEGEF
    | Dec. 11, 2015, 7:26 PM | 33 Comments
  • Dec. 11, 2015, 4:06 PM
    • Exxon Mobil (XOM -1.8%) promotes senior VP Darren Woods to President, setting him on a path to succeed CEO Rex Tillerson.
    • The elevation of Woods, XOM’s head of refining, apparently ends the internal competition with exploration chief Jack Williams to replace Tillerson upon retirement some time between now and March 2017 when the current CEO reaches the company’s mandatory retirement age of 65.
    • Woods joined XOM in 1992 and worked his way up through the refining and chemicals businesses; he was appointed to the management committee that oversees day-to-day operations in 2014 alongside Williams.
    | Dec. 11, 2015, 4:06 PM | 15 Comments
  • Dec. 7, 2015, 10:35 AM
    • The energy sector (-4.5%) paces the opening decline, as WTI crude oil prices -4% at $38.35/bbl following a 2.7% slide on Friday after OPEC's failure to agree on a production target to reduce the oil glut.
    • Investors are betting on oil prices staying lower for even longer after OPEC's non-decision, pushing U.S. crude futures for delivery nearly 10 years away below $60/bbl, Reuters reports.
    • But the oil glut is set to continue as much because of the U.S. as of OPEC, as U.S. shale drillers have only trimmed their pumping a little, and rising oil flows from the Gulf of Mexico are propping up U.S. production; the overall output of U.S. crude fell just 0.2% in September, the most recent monthly federal data available, and is down less than 3%, to 9.3M bbl/day, from the peak in April.
    • Goldman Sachs says it expects oil prices to remain "lower for longer," with a risk that prices could fall as low as $20/bbl.
    • In early trading: XOM -2.9%, CVX -4.1%, BP -3.2%, RDS.A -4.2%, COP -4.6%, MPC -3.2%, MRO -7.4%, PSX -2.8%, HES -4.9%, APC -6.1%, OXY -3.1%, EOG -5.8%, DVN -9.3%, PXD -7.2%, APA -3.9%, CHK -8%, CLR -9.1%.
    • ETFs: USO, OIL, XLE, UCO, UWTI, VDE, ERX, OIH, SCO, XOP, BNO, DBO, DWTI, ERY, FCG, DIG, GASL, DTO, DUG, BGR, USL, XES, IYE, IEO, IEZ, DNO, FENY, PXE, PXI, PXJ, FIF, OLO, SZO, NDP, RYE, FXN, OLEM, DDG
    | Dec. 7, 2015, 10:35 AM | 118 Comments
  • Dec. 4, 2015, 3:25 PM
    • U.S. crude oil settled 2.7% lower at $39.97 and Brent fell 1.9% to $43 after OPEC decided to roll over its policy of maintaining crude production in order to retain market share - a not unexpected outcome but one that offers no relief in sight for the oil industry's pain.
    • "OPEC not cutting is going to put more pressure on oil prices," and the pressure on companies’ spending will feed through into their investment in increasing their production, says Jefferies equity analyst Jason Gammel. “It’s not as though they’ll shut down existing production, but over time their output will decrease."
    • Don’t expect prices to stabilize until low prices force curtailments of pumping in the U.S., which will not happen until the end of next year, Goldman Sachs analyst Damien Courvalin.
    • Energy stocks (-0.7%) are the only S&P industry sector to decline, as the rest of the market has rebounded from yesterday's drop; some of the big oils - XOM +0.3%, CVX +0.6% - have inched higher, and refiners are mostly higher, but it's another down day for most: DVN -1.2%, CLR -5.9%, MRO -2.3%, HES -1%, COP -0.8%, EOG -0.7%, APC -2.4%, ETE -9.3%, ETP -3.5%, EPD -2.4%, WMB -6.9%.
    • ETFs: USO, OIL, XLE, UCO, UWTI, VDE, ERX, OIH, SCO, XOP, BNO, DBO, DWTI, ERY, FCG, DIG, GASL, DTO, DUG, BGR, USL, XES, IYE, IEO, IEZ, DNO, FENY, PXE, PXI, PXJ, FIF, OLO, SZO, NDP, RYE, FXN, OLEM, DDG
    | Dec. 4, 2015, 3:25 PM | 150 Comments
  • Dec. 2, 2015, 6:58 PM
    • Exxon Mobil (NYSE:XOM), lately a favorite target of global warming activists, says it supports “meaningful action to address the risks of climate change" from the climate change talks in Paris as long as any deal preserves access to reliable and affordable energy.
    • XOM says it takes climate change seriously and has taken steps to reduce its own emissions, adding that the most effective solution would be a revenue neutral tax on greenhouse gas emissions, reiterating a position the company has held for years.
    • XOM has been under attack by critics who say it misled the public by promoting uncertainties about climate science; in a new Rolling Stone interview, Sec. of State Kerry says the company’s actions would be a "betrayal” of humanity if it is found to have suppressed knowledge about climate risks.
    | Dec. 2, 2015, 6:58 PM | 27 Comments
  • Dec. 2, 2015, 3:21 PM
    | Dec. 2, 2015, 3:21 PM | 84 Comments
  • Dec. 2, 2015, 9:55 AM
    • Exxon Mobil (XOM -0.7%) is trading blows with Columbia University over reports the company knowingly withheld information on climate change for decades.
    • XOM accuses journalists affiliated with Columbia of multiple ethics breaches in writing "inaccurate and deliberately misleading reports" about the company's climate change research.
    • The dean of Columbia's journalism school replies that XOM's accusations are "unsupported by evidence," and that email records shows the allegations to be false.
    • XOM is currently being investigated by the state of New York, and reportedly has hired star attorney Ted Wells to head up its defense.
    | Dec. 2, 2015, 9:55 AM | 45 Comments
  • Dec. 1, 2015, 6:55 PM
    • The world's oil companies have canceled or delayed final investment decisions on ~150 projects that could wipe out 19M bbl/day from the world’s hydrocarbons and stay underground for several years longer than expected amid lower crude oil prices, according to a new report from Tudor Pickering Holt.
    • Canada and Norway top the investment bank’s list of deferred projects by country, while surprisingly few deepwater projects have been deferred in the Gulf of Mexico and Brazil.
    • The biggest oil companies account for a third of the 150 projects Tudor Pickering says have been delayed or canceled, a scale that “suggests that companies will have real growth issues toward the end of the decade,” and some will have to buy smaller rivals to make up for it.
    • BP and Chevron (NYSE:CVX) have deferred the largest number of projects, while Exxon (NYSE:XOM) could delay the most oil barrels (~2.5M bbl/day of production capacity from 25 projects); Royal Dutch Shell (RDS.A, RDS.B) is deferring 1.7M bbl/day, but its deal to buy BG Group and its deepwater fields off Brazil has alleviated many of the growth issues it might otherwise face.
    • ETFs: XLE, VDE, ERX, OIH, XOP, ERY, DIG, DUG, BGR, IYE, IEO, IXC, FENY, PXE, IPW, PXJ, FIF, NDP, RYE, FXN, GNAT, SZC, DDG, FILL
    | Dec. 1, 2015, 6:55 PM | 51 Comments
  • Dec. 1, 2015, 5:21 PM
    • Exxon Mobil (NYSE:XOM) reportedly has hired Ted Wells, co-chair of the litigation department at the Paul, Weiss, Rikfind, Wharton & Garrison law firm, in an aggressive response to increased scrutiny over its climate change disclosures.
    • New York AG Schneiderman has launched an investigation into whether XOM lied to investors about how climate change risks could hurt its bottom line, and hit the company with subpoenas last month demanding relevant financial records, emails and other documentation.
    • XOM has not been charged and it is unclear where the probe will lead, but the company's move to hire such a star lawyer signals it takes the matter seriously.
    | Dec. 1, 2015, 5:21 PM | 44 Comments
Company Description
Exxon Mobil Corporation is engaged in energy, involving exploration for, and production of, crude oil and natural gas, manufacture of petroleum products and transportation and sale of crude oil, natural gas and petroleum products.