Exxon earnings beat as production in Guyana and Permian sets a record

1 min read

ExxonMobil on Friday posted its second highest results for the second quarter in the past decade, as the company achieved record production in Guyana and the Permian Basin.

Exxon shares rose more than 1% before the market opened.

Here is what Exxon reported for the second quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG: 

  • Earnings per share: $2.14 vs. $2.01 expected
  • Revenue: $93.06 billion vs. $90.99 billion expected

Exxon posted net income of $9.2 billion, or $2.14 per share, a 17% increase over profits of $7.9 billion, or $1.94 per share, in the year-ago period.

Revenue rose to $93.06 billion from $82.91 billion a year ago, which was enough to top analysts estimates of $90.99 billion, according to LSEG.

Year to date, the oil major booked profits of $17.5 billion, or a 9% decline from $19.3 billion in the same period in 2023 due to lower refining margins and natural gas prices.

Production grew by 15%, or 574,000 barrels per day, to 4.4 million barrels per day from the first quarter, driven by records in Guyana and the Permian.

Capital and exploration expenditures totaled $7 billion in the quarter, including $700 million from its acquisition of Pioneer Natural Resources, which closed in May, bringing total spending this year to nearly $13 billion. Exxon expects $28 billion in capital spending for the year.

Exxon shares have rise nearly 17% since the start of 2024.

This is a developing story. Please check back for updates.

Don’t miss these energy insights from CNBC PRO:

Read the full article here

Leave a Reply

Your email address will not be published.

Previous Story

Intel’s 21.5% share plunge drags global chip stocks; Nvidia falls 3.5% in premarket trading

Next Story

This week’s personal loan rates edge up for 3-year terms, while 5-year rates fall

Latest from News

Pin Up Güvenilir Canli Casino – Sanal casino

Kumarhanelerdeki etkinliklerin karakteri gereği, hiçbir yöntem kesin bir gelir temin etmez. Bahis stratejilerinin etkinliği, oyunun türüne göre olarak değişiklik gösterir. Mesela, poker gibi beceri

Pinco Canlı Casıno gırış – Slot sitesii

Geleneksel kumarhanelerin sunduğu deneyimi dijital alana aktaran bu oyunlar, oyunculara otantik bir kumarhane hava sunuyor. 2024’te, Türkiye’deki çevrimiçi kumar sitelerinin daha çok canlı oyun
مشاهير العرب سكس arabpornsamples.com زبر نايم
قصص ن realarabporn.com انجلا وايت
little pussy analpornstars.info chut land ki film
old movies telugu fuckmetube.mobi sapna rathi sex
pandaniku youhentai.org cbt hentai
xx com indian indianpornfeed.com bf vs gf
bf sex sex sex hqtube.mobi husband wife sexy video
desi sex video tumblr sexozavr.com animal fuck women
marathi blue film com xxx-tube-list.info xixxx video
bed room xnxx prontv.mobi real chut image
ytmp4 eroanal.net bhojpuri sexy
fpo xxx indiandesiclips.com nepal call girl
xvideo wwe gotporn.mobi www.indianxnxx
sex videos sunny leone erofreeporn.net hot malayalam actress navel pictures
presyo ng mga bilihin onlineteleserye.com love revolution season 2