Exxon posts strong quarterly earnings with production in Guyana and the Permian Basin picking up
Exxon Mobil's third-quarter net production reached 4.7 million barrels per day, setting records in Guyana and the Permian Basin despite weaker crude prices.
- Exxon Mobil posted $8.1 billion in adjusted earnings for the third quarter, exceeding Wall Street expectations, driven by record output from Guyana and the Permian Basin.
- Oil and gas production increased to 4.8 million barrel of oil equivalent per day from 4.6 million in Q2, despite price softness.
- Exxon boosted its quarterly dividend by 4% to $1.03 per share and confirmed plans for $20 billion in share buybacks this year after returning $9.3 billion to shareholders last quarter.
- CEO Darren Woods stated that Exxon is lifting force majeure on its $30 billion Rovuma LNG project in Mozambique as security conditions improve.
19 Articles
19 Articles
Exxon Crushes Q3 Forecasts on Record Guyana and Permian Output
Exxon Mobil (NYSE: XOM) topped Wall Street expectations for the third quarter, posting $8.1 billion in adjusted earnings, or $1.88 per share—up from $7.1 billion in Q2—on record output from Guyana and the Permian Basin. Analysts had forecast $1.82 per share, according to LSEG data. The quarter’s operational strength came despite weaker crude prices, which averaged $68.17 Brent, down 13% year-on-year. Oil and gas production rose to 4.8 million bo…
Exxon Beats Q3 Profit Estimates on Higher Guyana, Permian ...
Exxon slips as Q3 earnings top estimates but fall Y/Y; Permian, Guyana set production records
Exxon Mobil reported Q3 adjusted earnings that topped estimates, helped by higher oil and gas production in Guyana and the Permian Basin, and raised quarterly dividend by 4% to $1.03/share.
Exxon posts strong quarterly earnings with production in Guyana and the Permian Basin picking up
Exxon Mobil’s third-quarter earnings beat Wall Street’s expectations, bolstered by strong Guyana and Permian Basin production.
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