EXXON 3RD Q RESULTS
THIRD QUARTER HIGHLIGHTS
- Earnings of $8,070 million increased $200 million or 3 percent from the third quarter of 2013.
- Earnings per share (assuming dilution) were $1.89, an increase of 6 percent.
- Capital and exploration expenditures were $9.8 billion, down 7 percent from the third quarter of 2013.
- Oil-equivalent production decreased 4.7 percent from the third quarter of 2013. Excluding the impact of the expiry of the Abu Dhabi onshore concession, production decreased 1 percent, with liquids up 0.6 percent and gas down 2.9 percent.
- Cash flow from operations and asset sales was $12.5 billion, including proceeds associated with asset sales of $0.1 billion.
- The Corporation distributed $5.9 billion to shareholders in the third quarter of 2014, including $3 billion in share purchases to reduce shares outstanding.
- Dividends per share of $0.69 increased 9.5 percent compared with the third quarter of 2013.
- ExxonMobil entered into a second nonmonetary exchange agreement with LINN Energy, LLC to add 17,800 net acres in the Permian Basin to its U.S. oil and natural gas portfolio, managed by its subsidiary XTO Energy, Inc. This agreement, coupled with the first nonmonetary exchange that closed during the quarter, extends XTO's leasehold position across the entire Permian Basin to more than 1.5 million acres and net oil-equivalent production to more than 95,000 barrels per day.
- ExxonMobil announced the startup of the Tapis enhanced oil recovery (EOR) project, which is Malaysia's first large-scale enhanced oil recovery project and will utilize the immiscible water-alternating-gas process to increase overall field recovery. The project exemplifies ExxonMobil's leadership in technology application and global project
- execution to maximize reserves recovery from producing fields.
FIRST NINE MONTHS HIGHLIGHTS
- Earnings were $25,950 million, up $1,720 million, or 7 percent from the first nine months of 2013.
- Earnings per share increased 11 percent to $6.04.
- Capital and exploration expenditures were $28.1 billion, down 14 percent from the first nine months of 2013.
- Oil-equivalent production decreased 5.3 percent from 2013. Excluding the impact of the expiry of the Abu Dhabi onshore concession, production decreased 2 percent.
- Upstream per-barrel profitability, excluding noncontrolling interest volumes, increased 17 percent to $21.03 from full year 2013.
- Cash flow from operations and asset sales was $41.5 billion, including proceeds associated with asset sales of $3.8 billion, fully covering net investments and shareholder distributions.
- The Corporation distributed $17.6 billion to shareholders in the first nine months of 2014 through dividends and share purchases to reduce shares outstanding.
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AOG - The Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.
TRANSCANADA - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per share in 2016.
ROSATOM - February 13, 2018, Moscow. – ROSATOM and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo today signed a Memorandum of Understanding on cooperation in the field of peaceful uses of atomic energy.
FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.