Exxon Mobil Corporation (XOM) recently made a Form 8-K disclosure, stating that soft natural gas prices — resulting from reduced demand and surplus inventories — are expected to have negatively impacted its second-quarter 2024 earnings. Additionally, its announcement regarding diminished refining margins exacerbates apprehensions about second-quarter earnings performance.  The critical question now facing investors is how to strategically position themselves regarding the stock. Before addressing this, let' ...

Exxon Mobil Corporation (XOM) recently disclosed in a Form 8-K that soft natural gas prices due to lower demand and excess inventories will sequentially hurt its earnings for the second quarter of 2024.Owing to changes in prices of the commodity, the leading integrated energy player expects its second-quarter earnings to decline sequentially by $300 million to $700 million. However, XOM projects that a favorable crude pricing scenario in the June quarter will completely offset this negative impact.ExxonMobi ...

Exxon Mobil (XOM) closed at $112.18 in the latest trading session, marking a -1.05% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.1% for the day. On the other hand, the Dow registered a loss of 0.08%, and the technology-centric Nasdaq increased by 0.28%.Coming into today, shares of the oil and natural gas company had gained 0.55% in the past month. In that same time, the Oils-Energy sector gained 0.75%, while the S&P 500 gained 4.08%.Investors will be eagerly wat ...

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

Exxon Mobil Corporation (XOM) , a U.S. oil and gas giant, has decided to proceed with the Hammerhead discovery as its seventh project in Guyanese waters. Discovered in 2018, the Hammerhead field is part of the prolific Stabroek Block off the coast of Guyana. The field is known to have approximately 60 meters of high-quality sandstone reservoirs containing oil.ExxonMobil has filed an application with the government of Guyana for an environmental permit to proceed with a new investment that’s aimed at boostin ...

JHVEPhoto Exxon Mobil (NYSE:XOM) and partners reported to the government of Guyana a very profitable fiscal year, as follows: New government data shows Guyana's agreement with the Exxon-led consortium (XOM) that includes Hess (HES) and Cnooc (OTCPK:CEOHF) generated $6.33B for the partners last year. The combined net margin for the three companies totaled 56%, greater than the 49% earned by chipmaker Nvidia in its most recent fiscal year. The story by Kemol King and Sabrina Valle on Reuters, which is the ...

ExxonMobil Corporation (XOM) , the U.S. energy major, has warned that it may be forced to halt production at its Gravenchon refinery in northern France if the current strike action continues, per a Reuters report. This news came amid workers blocking access to the site since last Friday, preventing the delivery of essential goods and materials required for the refinery's operations.The labor dispute began last month when a group of workers initiated a strike in response to ExxonMobil's announcement that it ...

ExxonMobil Corporation (XOM) , the U.S. energy major, has partnered with French industrial gas supplier Air Liquide, in a significant step toward reducing carbon emissions. This partnership aims to support the decarbonization of industrial operations along the U.S. Gulf Coast.Enhancing Low-Carbon Hydrogen ProductionPer the terms of the agreement, XOM will use Air Liquide's existing pipeline network to transport low-carbon hydrogen. This integration is critical for ExxonMobil's strategy to expand the low-car ...

Nerthuz Introduction The ink is now drying on the biggest shale patch merger of all time. In case memory escapes you, I am referring to Exxon Mobil Corporation's (NYSE:XOM) purchase of Pioneer Natural Resources-formerly PXD. As of May 3rd, 2024, the two oil giants are now one shale colossus. We were supportive of the merger in the context of what we see developing in shale's future, and discussed why in a public article last fall. Our updated shale thesis was in another public article if you would like ...

ExxonMobil Corporation (XOM) has started appraisal activities at the Lau-Lau 2 well site, in the Starbroek block, offshore Guyana. Previously, in 2022, ExxonMobil had discovered 96 meters of high-quality sandstone reservoirs containing hydrocarbons at the Lau-Lau 1 exploration well site. The announcement was made by Guyana’s Maritime Administration Department (“MARAD”). MARAD also mentioned that the Noble Sam Croft drillship will be used for the appraisal well.ExxonMobil has made several major hydrocarbon d ...