Exxon's (XOM) Key Resource is Getting Scarce
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Exxon (XOM) to Develop Hebron Field, Sees Capital Costs of $14B
January 4, 2013 12:05 PM ESTExxon Mobil Corporation (NYSE: XOM) will develop the Hebron oil field offshore the Canadian province of Newfoundland and Labrador using a gravity-based structure that will recover more than 700 million barrels of oil, an increase versus earlier estimates.
Capital cost for the project, which is expected to begin oil production around the end of 2017, is estimated at $14 billion. The platform is being designed for daily production of 150,000 barrels of oil.
Hebron is one of several large-scale oil developments that ExxonMobil... More
Exxon (XOM) Shares Slump on Exit from Major Iraqi Oil Project
November 7, 2012 9:36 AM ESTExxon Mobil (NYSE: XOM) shares are ticking lower Wednesday following reports its exiting a major oil project.
According to Reuters, the energy giant said it will be... More
Exxon (XOM) Posts Lower Q3 Profit as Crude Prices Remain Weak; May Not Top Record 2007 Results
November 1, 2012 10:10 AM EDTDon't fret, Exxon Mobil (NYSE: XOM) investors, the company will still report near-record profits for 2012.
Exxon reported lower year-over-year net income for its third quarter today as revs also slipped lower. According to the Company, revs fell 7.7 percent to $115.71 billion, from $125.33 billion in the same period last year. Sales in the second quarter were $124.05 billion.
Net income fell over 7 percent to $9.57 billion, or $2.09 per share. Last... More
Denbury (DNR) to Sell Bakken Assets in $1.6B Deal with Exxon Mobil (XOM)
September 20, 2012 8:33 AM EDTDenbury Resources Inc. (NYSE: DNR) ("Denbury" or the "Company") announced that it has entered into an agreement to sell its Bakken assets in North Dakota and Montana to Exxon Mobil Corporation and its wholly owned subsidiary XTO Energy Inc. (NYSE: XOM). Denbury will receive $1.6 billion in cash, subject to closing adjustments, and ExxonMobil's operating interests in Webster Field in Texas and Hartzog Draw Field in Wyoming, both of which are ideal candidates for carbon dioxide ("CO2") flooding and close to Denbury's existing or planned CO2 pipelines. In addition, Denbury has agreed in principle... More
