• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 6 days Does Toyota Know Something That We Don’t?
  • 7 hours America should go after China but it should be done in a wise way.
  • 6 days World could get rid of Putin and Russia but nobody is bold enough
  • 8 days China is using Chinese Names of Cities on their Border with Russia.
  • 9 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 9 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 9 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 8 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 9 days Putin and Xi Bet on the Global South
  • 9 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 10 days United States LNG Exports Reach Third Place
  • 10 days Biden's $2 trillion Plan for Insfrastructure and Jobs
ExxonMobil's Record Profits Defy Political Expectations

ExxonMobil's Record Profits Defy Political Expectations

ExxonMobil has achieved its highest…

The Race for Natural Hydrogen Is Heating Up

The Race for Natural Hydrogen Is Heating Up

Natural hydrogen presents a promising…

Editorial Dept

Editorial Dept

More Info

Premium Content

U.S. Natural Gas Production Soars

1. ExxonMobil Aims for Global Dominance

- ExxonMobil’s $60 billion Pioneer acquisition has become a defining moment for CEO Darren Woods as his first 5-year tenure was marred by activist investors, missed production targets, and COVID-19.

- In Exxon’s new 2027 strategy, the oil major pledges to pump more than 4.4 million b/d of oil in four years, adding 700,000 b/d from now on and increasing its lead ahead of the world’s publicly traded companies.

- The US major has also moved into carbon capture and storage with its $4.9 billion acquisition of Denbury, as well as made great strides in direct lithium extraction at its Arkansas plant.

- Even with oil prices edging lower, ExxonMobil is expected to remain the most profitable Western major in Q4, with analysts expecting Q4 net profits to trend sideways from the previous quarter around $9 billion.

2. Defying Slackening Upstream Activity, US Natural Gas Production Soars

- Natural gas production from the US lower-48 states reached an all-time high of 105.1 BCf per day last month, building on the previous record rate of 102.5 BCf per day in October.

- As shale oil production becomes gassier, the Permian basin and Appalachia’s Marcellus shale play have led the US market in incremental growth, despite an ongoing trend in lower drilling activity.

- US natural gas rigs continue to remain subdued (Baker Hughes indicates only 116 rigs currently active),…

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News