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2019-02-25 11:30:00

EXXON, MICROSOFT PARTNERSHIP

EXXON, MICROSOFT PARTNERSHIP

EXXONMOBILExxonMobil said today a new partnership with Microsoft will make its Permian Basin operations the largest-ever oil and gas acreage to use cloud technology and is expected to generate billions in net cash flow over the next decade through improvements in analyses and enhancements to operational efficiencies.

The application of Microsoft technologies by ExxonMobil's XTO Energy subsidiary – including Dynamics 365, Azure, Machine Learning and Internet of Things – is anticipated to improve capital efficiency and support Permian production growth by as much as 50,000 oil-equivalent barrels per day by 2025.

"The combination of Microsoft's technologies with our unique strengths in oilfield technologies, production efficiency and integration will help drive growth in the Permian and serve as a model for additional implementation across the U.S. and abroad," said Staale Gjervik, senior vice president, Permian Integrated Development for XTO. "The unconventional business is fast moving, complex and data rich, which makes it well suited for the application of digital technologies to strengthen our operations and help deliver greater value."

ExxonMobil's partnership with Microsoft includes an integrated cloud environment that securely and reliably collects real-time data from oil field assets spanning hundreds of miles. The data will enable ExxonMobil to make faster and better decisions on drilling optimization, well completions and prioritization of personnel deployment. Importantly, leak detection and repair response times could be further reduced with enhanced access to emissions data, strengthening XTO's voluntary actions to manage methane emissions.

ExxonMobil's application of these technologies in its Permian Basin acreage, which covers a 9.5 billion oil-equivalent barrel resource base and more than 1.6 million acres, represents industry's largest acreage position using cloud technology.

Alysa Taylor, corporate vice president of Microsoft Business Applications and Industry, said ExxonMobil is taking a leadership approach in its digital strategy.

"ExxonMobil is leading the way for industry, grounding their goals in making data-driven decisions that will result in safer operations for their employees and more profitable activities for the company," said Taylor. "Our cloud infrastructure and business applications will continue to support ExxonMobil as it fully realizes its strategy across the Permian."

Microsoft's platforms, including Azure Data Lake, will enable ExxonMobil to rapidly incorporate third-party solutions at scale across the Permian. Examples include mobile field data apps to optimize well performance, and AI algorithms for analyzing drilling and completions data to improve performance.

With the additional layer of Microsoft's intelligent business applications, such as Dynamics 365, ExxonMobil and XTO will have a complete, end-to-end view of the Permian operations.

"Digital technology is a fundamental enabler for our Permian development," said Gjervik. "Through our partnership with Microsoft, we're combining our technical and engineering expertise with cloud and data analytics capabilities to develop the Permian resource in the most capital-efficient manner. Collaboration with Microsoft is key to our future development efforts, which include predictive maintenance capacities, innovative tools for employees, and artificial intelligence and machine learning integration."

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Earlier: 

 EXXON NET INCOME $20.8 BLN
2019, February, 4, 09:20:00

EXXON NET INCOME $20.8 BLN

EXXONMOBIL - Exxon Mobil Corporation announced estimated 2018 earnings of $20.8 billion, or $4.88 per share assuming dilution, compared with $19.7 billion a year earlier. Excluding U.S. tax reform and asset impairments, earnings were $21 billion, compared with $15.3 billion in 2017. Cash flow from operations and asset sales was $40.1 billion, including proceeds associated with asset sales of $4.1 billion. Capital and exploration expenditures were $25.9 billion, including incremental spend to accelerate value capture.

 
 EXXON & IBM QUANTUM COMPUTING
2019, January, 9, 10:40:00

EXXON & IBM QUANTUM COMPUTING

EXXONMOBIL - ExxonMobil said that it has signed a partnership agreement with IBM to advance the potential use of quantum computing in developing next-generation energy and manufacturing technologies. The new partnership was formally announced during the 2019 Consumer Electronics Show (CES) in Las Vegas.

 
 EXXON INVESTS AUSTRALIA $4 BLN
2018, December, 14, 08:30:00

EXXON INVESTS AUSTRALIA $4 BLN

TOTAL - Total has signed an agreement to divest a 4% interest in the Ichthys liquefied natural gas (LNG) project in Australia to operating partner INPEX for an overall consideration of 1.6 billion USD. The transaction, which is subject to Australian regulatory approvals, reduces Total’s interest in the asset to 26%.

 
 EXXON'S NET INCOME $6.24 BLN
2018, November, 5, 11:45:00

EXXON'S NET INCOME $6.24 BLN

EXXONMOBIL - Exxon Mobil Corporation announced estimated third quarter 2018 earnings of $6.2 billion, or $1.46 per share assuming dilution, compared with $4 billion a year earlier.

 
 
2018, October, 24, 11:10:00

ROSNEFT - EXXON LNG

REUTERS - Russia’s Rosneft (ROSN.MM) and U.S. ExxonMobil (XOM.N) plan to build a liquefied natural gas (LNG) plant in a consortium with Indian and Japanese partners, spreading the estimated $15 billion cost, two sources familiar with the talks said.

 
 EXXON'S LNG FOR CHINA
2018, October, 19, 11:05:00

EXXON'S LNG FOR CHINA

REUTERS - Exxon Mobil Corp is placing big bets on China’s soaring liquefied natural gas (LNG) demand, coupling multi-billion dollar production projects around the world with its first mainland storage and distribution outlet.

 
 EXXONMOBIL EARNINGS $4 BLN
2018, July, 30, 13:30:00

EXXONMOBIL EARNINGS $4 BLN

EXXONMOBIL - Exxon Mobil Corporation announced estimated second quarter 2018 earnings of $4 billion, or $0.92 per share assuming dilution, compared with $3.4 billion a year earlier. Cash flow from operations and asset sales was $8.1 billion, including proceeds associated with asset sales of $307 million. During the quarter, the corporation distributed $3.5 billion in dividends to shareholders. Capital and exploration expenditures were $6.6 billion, up 69 percent from the prior year, reflecting key investments in Brazil, the U.S. Permian Basin and Indonesia.

 

Tags: EXXON, MOBIL, MICROSOFT, DIGITAL