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Exxon Mobil Corporation (XOM)

  • Apr. 25, 2013, 11:41 AM
    Exxon's (XOM -1.1%) headline earnings beat isn't holding up to investor scrutiny, as shares slide on concerns about declining production, lower profits and a reduction in money set aside for share buybacks. Earnings for XOM’s bread and butter upstream E&P business were lower. The earnings beat was mostly focused in the corporate segment with modest outperformance from operational segments.
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  • Apr. 25, 2013, 10:43 AM
    Cobalt Energy (CIE +1.8%), which has doubled in value since going public in 2009 but still trades at a substantial discount to the value of its underlying assets, is turning into a takeover target for energy companies attracted to its oil finds from Africa to the Gulf of Mexico, Bloomberg writes. CIE’s assets are "a needle mover" for a large international player, Guggenheim says.
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  • Apr. 25, 2013, 9:47 AM
    Anadarko Petroleum (APC +0.2%) says it discovered a new deepwater Gulf of Mexico oil play, as its Phobos-1 well entered ~250 net feet of high-quality oil; the find marks APC's third deepwater success this year. Co-owners include Plains Exploration (PXP -0.6%), with a 50% working interest, and Exxon (XOM -1.4%), with a 20% working interest.
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  • Apr. 25, 2013, 8:49 AM
    More on Exxon Mobil's (XOMQ1 results: E&P earnings declined 9.8% to $7.04B as total oil and natural gas production fell 3.5% Y/Y to 4.395M boe/day. Refining and marketing earnings fell 2.6% to $1.55B while refining-driven margins increased earnings by $780M. Chemical profits rose 62%; corporate and financing expenses fell sharply due to "favorable tax impacts." Shares -0.5% premarket.
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  • Apr. 25, 2013, 8:16 AM
    Exxon Mobil (XOM): Q1 EPS of $2.12 beats by $0.07. Revenue of $108.8B misses by $11.03B.
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  • Apr. 24, 2013, 3:16 PM
    Exxon Mobil Corporation (XOM) declares $0.63/share quarterly dividend, 10.5% increase from prior dividend of $0.57. Forward yield 2.81%. For shareholders of record May 13. Payable June 10. Ex-div date May 09. (PR)
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  • Apr. 24, 2013, 2:21 PM
    Exxon Mobil (XOM +0.4%) announces a $0.06 hike in its quarterly dividend to $0.63, marking the company's 31st consecutive year of raising its dividend. Rival Chevron (CVX) likely will boost its dividend near its earnings report Friday, but with a higher dividend than XOM ($0.90), it may be under less pressure to match XOM's 10.5% raise.
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  • Apr. 24, 2013, 10:57 AM
    InterOil’s (IOC +5.4%) promise to come up with a credible partner for its LNG project in Papua New Guinea may mean it needs to make an announcement "in a matter of weeks" and Exxon (XOM) may be the most likely partner, according to PNG Industry News. IOC also says it has adopted a new shareholder rights plan and bylaws, though there's no report of takeover interest.
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  • Apr. 24, 2013, 8:45 AM
    The sudden retirement of InterOil (IOC) CEO Phil Mulacek should speed the securing of a major JV partner for its Gulf LNG project in Papua New Guinea, Raymond James analyst Pavel Molchanov says. Mulacek was a "sharply polarizing figure" perceived as "an obstacle" to a deal with interested partners such as XOM, RDS.A or TOT, and his departure provides a catalyst for an announcement.
  • Apr. 23, 2013, 12:42 PM
    Rosneft CEO Igor Sechin says it is considering teaming up with long-standing partner Exxon Mobil (XOM) in tapping oil and gas in Iraq. XOM has long been rumored to be looking to significantly farm down its stake in the giant West Qurna-1 oilfield, last year informing Baghdad it wanted to sell the entire 60% stake to focus on its controversial oil plays in Kurdistan.
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  • Apr. 22, 2013, 4:42 PM
    Exxon Mobil (XOM) booked two tankers to haul oil to the U.S. Gulf coast via the Suez Canal in May at what may be this year’s lowest rates, shipbrokers say, as hire costs for tankers hauling Middle East crude to the Gulf continue to fall. VLCCs built in 2010 and carrying Middle East oil to the U.S. were losing $2,140/week on average as of April 19, while such ships earned $31,227 a year ago.
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  • Apr. 19, 2013, 6:06 PM
    For more than a decade, the promised bonanza from the Caspian Sea's giant Kashagan oil field has been a $30B mirage for its developers - including XOM, E and RDS.A - and it still isn't clear when the first drop of oil is coming. Delays beyond Oct. 1 could subject the companies to new financial penalties and heighten tensions with a frustrated Kazakh government.
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  • Apr. 19, 2013, 3:26 PM
    Argentina creates a fund of up to $2B to help develop the country's 7.4M-acre Vaca Muerta shale field, which may hold one of the world's biggest unconventional energy resources. State-controlled YPF, as well as Apache (APA), Exxon Mobil (XOM) and Canada's Americas Petrogas hold exploration rights on nearly 80% of the site.
  • Apr. 18, 2013, 5:59 PM
    Lebanon selects 46 energy companies to bid for offshore drilling rights, including giants XOM, CVX, RDS.A and PBR - not bad for a country that six months ago didn't even have a petroleum administration. Lebanon no doubt eyes Israel's progress in developing its Tamar field, discovered in 2009 and producing ~300M cu. ft./day of gas, and the Leviathan field, scheduled to begin production soon.
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  • Apr. 17, 2013, 2:57 PM
    Exxon Mobil (XOM -0.7%) has no estimate for the restart of its Pegasus pipeline, which spilled 5,000 barrels of oil in Arkansas and sparked debate about the safety of carrying heavy crude from Canada across the U.S. XOM says it installed a new section of the pipeline a day after it removed the broken portion. Meanwhile, XOM says it has extinguished a fire at its Beaumont, Tex., refinery that injured 12 workers.
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  • Apr. 17, 2013, 11:54 AM
    Iraqi Kurdistan reportedly signs a landmark agreement with Turkey to supply it directly with oil and gas via a new pipeline set for completion later this year, risking the ire of Iraq's central government. The deal could prove a windfall for companies such as XOM, CVX and TOT with a presence in the semi-autonomous region, including Genel Energy (GEGYF.PK), run by ex-BP CEO Tony Hayward.
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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.