- Bloomberg
Exxon and Chevron Output Booms in World’s Hottest Oil Patches
(Bloomberg) -- If you want to understand why the two largest US oil companies are together spending in excess of $100 billion on acquisitions right now, look no further than the amount of crude they’re extracting from the two hottest oil fields on the planet.Most Read from BloombergBHP’s $39 Billion Copper Play Was Years in the MakingApple Intensifies Talks With OpenAI for iPhone Generative AI FeaturesPlunging Home Prices, Fleeing Companies: Austin’s Glow Is FadingThe Long, Slow Death of Urban N
- Reuters
UPDATE 2-Exxon misses on Q1 profit despite big gains in Guyana
Exxon Mobil Corp on Friday missed analysts' estimates with a 28% year-on-year drop in first quarter profits as weaker refining margins and lower natural gas prices offset volume gains. Latest results from oil and gas companies including Chevron and TotalEnergies reflect a sharp downturn in natural gas prices after a warmer than usual Northern Hemisphere winter cut demand and pushed up inventories. Exxon, which is in the process of closing a $60 billion deal for top shale oil producer Pioneer Natural Resources , posted lower first-quarter earnings of $8.22 billion, down from an $11.43 billion net profit a year ago.
- Reuters
Exxon misses on Q1 profit despite big gains in Guyana
HOUSTON (Reuters) -Exxon Mobil Corp on Friday missed analysts' estimates with a 28% year-on-year drop in first quarter profits as weaker refining margins and lower natural gas prices offset volume gains. Latest results from oil and gas companies including Chevron and TotalEnergies reflect a sharp downturn in natural gas prices after a warmer than usual Northern Hemisphere winter cut demand and pushed up inventories. Exxon, which is in the process of closing a $60 billion deal for top shale oil producer Pioneer Natural Resources, posted lower first-quarter earnings of $8.22 billion, down from an $11.43 billion net profit a year ago.
