《财富》杂志提到，据联邦政府估计，美国石油产量接近每天1350万桶，其中近一半来自得克萨斯州西 部和新墨西哥州东南部的二叠纪盆地。响尾蛇能源公司作为二叠纪盆地的最大石油生产商之一，其发展 动态对整个行业具有重要意义。斯蒂斯的警告无疑给行业内尚未察觉这一趋势的人敲响了警钟。 【环球时报记者 李萌 环球时报驻美国特约记者 卓然】编者的话："美国石油行业已经'见顶'。"据美国 《财富》杂志6日报道，美国石油生产商表示，石油行业在特朗普政府滥施关税和油价下跌的重压下苦 苦挣扎，已经开始衰退。这不仅可能动摇美国作为全球最大化石燃料生产国的地位，也将威胁该国能源 安全。随着经济放缓趋势蔓延到各个行业，美国石油生产商正调整策略，减少钻井平台数量，并削减成 本。 油服三巨头股价大跌 特朗普竞选期间经常把"钻吧，宝贝，钻吧"（drill，baby，drill）挂在嘴边，以显示其对石油和天然气 等传统能源的支持。加拿大"能源结构"网站报道称，特朗普在上任第一天就签署了支持石油和天然气行 业发展的行政命令。然而，在他执政100多天后，美国石油企业发布的季度财报并不乐观。美国两大石 油公司收入下滑，埃克森美孚利润同比下降6%，仅为7 ...

Group 1 - The company emphasizes the importance of growing earnings power and cash flow rather than cutting capital investments, which are essential for long-term value growth [1] - The oil and gas industry is experiencing rising commodity prices and shareholder dividends, but investors must be cautious to avoid purchasing the wrong firms [3] - The platform offers deep dive analysis covering a wide range of companies in the energy sector, including pipelines, renewables, and producers, with a track record of outperforming benchmarks [4]

Core Viewpoint - Exxon Mobil Corporation (XOM) reported first-quarter 2025 earnings that exceeded expectations, driven by higher production from Guyana and the Permian Basin, along with structural cost savings, indicating a strong business outlook [1] Group 1: Q1 Earnings Results - XOM reported earnings per share of $1.76, surpassing the Zacks Consensus Estimate of $1.74, but down from $2.06 a year ago [2] - Total quarterly revenues were $83.13 billion, missing the Zacks Consensus Estimate of $84.15 billion, but slightly up from $83.08 billion year-over-year [2] Group 2: Acquisition and Synergy Estimates - XOM completed the acquisition of Pioneer Natural Resources on May 3, 2024, enhancing its presence in the Permian with 1.4 million net acres and an estimated 16 billion barrels of oil equivalent resource [4] - The average annual synergy from the Pioneer acquisition has been revised upward from approximately $2 billion to over $3 billion [5] Group 3: Future Projects and Cash Flow - XOM is launching 10 advantageous projects this year expected to generate over $3 billion in earnings next year, focusing on premium products and market entry while adhering to budgets [6] - A notable project includes a large chemical plant in China, which was under budget and ahead of schedule, addressing local demand and tariff concerns [8] - These projects aim to increase cash flow by $30 billion by the end of the decade [8] Group 4: Industry Comparison - Chevron and BP, other major integrated energy companies, reported their Q1 results, with Chevron's adjusted earnings per share at $2.18 and BP's at 53 cents, both reflecting challenges in the current market [9][11] Group 5: Stock Performance and Valuation - Despite positive developments, XOM's stock has declined 11.6% over the past six months, underperforming the industry average decline of 10.7% [13] - XOM's stock is currently trading at a 6.52x trailing 12-month EV/EBITDA, which is a premium compared to the industry average of 3.92x, indicating potential overvaluation [18]

Core Viewpoint - The oil market is experiencing turbulence with prices dropping over 15%, impacting many producers but not ExxonMobil, which is well-prepared for such conditions [1][2]. Group 1: Current Market Conditions - Oil prices have fallen significantly, with Brent crude dropping closer to $60 a barrel from a range of $75 to $85 [1]. - The uncertainty in the oil market is causing volatility and raising concerns about slower economic growth, compounded by potential increased OPEC supply [4]. Group 2: ExxonMobil's Preparedness - ExxonMobil has strategically positioned itself to thrive in volatile markets, boasting a low cost of supply, a strong balance sheet, and a lean cost structure [5]. - The company has achieved a 7% net leverage ratio, the best among international oil companies and large-cap industrial firms [5]. - Since 2019, Exxon has reduced structural costs by $12.7 billion, a level unmatched by other international oil companies [5]. Group 3: Long-term Strategy and Investments - Despite short-term uncertainties, ExxonMobil's long-term fundamentals remain strong, with ongoing investments in low-cost oil and gas projects [8]. - The company plans to invest approximately $140 billion into major projects and its Permian Basin development by 2030, expecting to generate $20 billion more in earnings and $30 billion more in cash under constant prices and margins [9]. - Exxon aims to achieve $18 billion in structural cost savings by 2030, with nearly $13 billion already secured [10]. Group 4: Future Outlook - The company is focused on building lower-carbon energy platforms, which will help reduce earnings volatility and generate predictable revenues from long-term contracts [9]. - ExxonMobil's strategy positions it for meaningful earnings and cash flow growth, making it a strong candidate for long-term investment despite market volatility [11].

油田既能让人迅速暴富，也能让人轻易破产。1901年，得克萨斯州的纺锤顶油井（Spindletop）井喷，标志着现代石油 工业的开始，同时也导致油价暴跌。仅仅两年后，过度开采就使该油田走向衰落。 诚然，如今的石油行业规模大得多，也更为复杂精细。但即便在强大的二叠纪盆地（Permian Basin），这个让美国成 为世界最大石油生产国的地方，资源最终也会枯竭。有迹象表明，顶峰时刻就在眼前。 二十年前，美国每天原油产量已经降至约500万桶，比上世纪70年代减少了一半。就连像阿拉斯加北坡这样偏远的油田 产量也在下降，而且开采额外一桶石油的成本不断上升，石油行业似乎即将崩溃。 转机出现在工程师们想出了水力压裂技术——即将水、沙子和化学物质的混合物以极高的压力注入页岩层，使页岩层 破裂，从而开采出其中蕴藏的天然气和石油。这一方法在北达科他州和阿巴拉契亚地区的油田取得了成效，但或许没 有哪个地方比得克萨斯州的二叠纪盆地更受益。仅这个油田现在每天的产量就超过600万桶，几乎占美国目前石油产量 的一半，比技术革命前美国的原油总产量还多。 二叠纪盆地引领了美国原油生产 虽然水力压裂技术开辟了大量新的石油储备，但它并没有改变基本的 ...

Core Insights - Exxon Mobil reported $83.13 billion in revenue for Q1 2025, a slight year-over-year increase of 0.1%, but fell short of the Zacks Consensus Estimate by 1.22% [1] - The company's EPS for the quarter was $1.76, compared to $2.06 a year ago, with a surprise of 1.15% over the consensus estimate of $1.74 [1] Financial Performance - Oil-equivalent production per day was 4,551 KBOE/D, slightly below the average estimate of 4,570.89 KBOE/D [4] - Natural gas production available for sale per day in Europe was 331 Mcf/D, below the estimate of 347.38 Mcf/D; in Africa, it was 118 Mcf/D versus 143.66 Mcf/D; and in Asia, it was 3,457 Mcf/D, exceeding the estimate of 3,279.76 Mcf/D [4] - Upstream revenues in the United States reached $7.32 billion, significantly above the estimate of $5.72 billion, marking a year-over-year increase of 234.2% [4] - Upstream revenues from Non-U.S. operations were $3.96 billion, exceeding the estimate of $3.24 billion, with a year-over-year change of 12.3% [4] - Energy Products revenues in the United States were $23.89 billion, slightly below the estimate of $24.43 billion, reflecting a year-over-year decline of 3.7% [4] - Specialty Products revenues from Non-U.S. operations were $3.03 billion, significantly below the estimate of $5.31 billion, with a year-over-year decrease of 4% [4] - Total revenues from sales and other operating revenue were $81.06 billion, below the estimate of $84.12 billion, but showing a year-over-year increase of 0.8% [4] - Other income was reported at $703 million, below the estimate of $831.78 million [4] - Income from equity affiliates was $1.37 billion, exceeding the estimate of $1.17 billion, but reflecting a year-over-year decline of 25.7% [4] - Total revenues from Energy Products were $59.96 billion, below the estimate of $63.39 billion, with a year-over-year decrease of 6.6% [4] Stock Performance - Exxon shares returned +1.8% over the past month, outperforming the Zacks S&P 500 composite's +0.4% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Two energy behemoths — Exxon Mobil Corp. (XOM) and Chevron Corp. (CVX) — came up with mixed first-quarter 2025 results amid falling crude oil prices. Both companies beat estimates for earnings estimates but missed the same for revenues. This has put the focus on energy ETFs like Energy Select Sector SPDR (XLE) , Vanguard Energy ETF (VDE) , iShares U.S. Energy ETF (IYE) , Fidelity MSCI Energy Index ETF (FENY) and Strive U.S. Energy ETF (DRLL) , with the largest allocation to energy behemoths.Earnings in Focu ...

Financial Performance - ExxonMobil's Q1 2025 earnings were $7.7 billion, a decrease from $8.2 billion in Q1 2024, primarily due to declining refining margins and higher expenses[60] - Upstream earnings totaled $6.756 billion in Q1 2025, compared to $5.660 billion in Q1 2024, with U.S. earnings at $1.870 billion and non-U.S. earnings at $4.886 billion[61] - Total earnings for Energy Products in Q1 2025 were $827 million, a decrease of 40% from $1,376 million in Q1 2024[73] - Chemical Products reported total earnings of $273 million in Q1 2025, down 65% from $785 million in Q1 2024[79] - Specialty Products earnings decreased to $655 million in Q1 2025, compared to $761 million in Q1 2024, reflecting a decline of 14%[86] - Cash flow from operations and asset sales was $14.8 billion in Q1 2025, a decrease of $0.6 billion from the prior year[93] Production and Operations - Net production of oil-equivalent barrels per day increased to 4.6 million in Q1 2025, up 767,000 barrels per day from Q1 2024, largely due to the Pioneer acquisition[68] - Advantaged volume growth contributed an increase of $920 million to earnings, driven by production growth in the Permian and Guyana[64] - Refinery throughput in the United States was 1,789 thousand barrels daily in Q1 2025, down from 1,900 thousand barrels daily in Q1 2024[78] Expenses and Capital Expenditures - Cash capital expenditures rose to $5.9 billion in Q1 2025, an increase of $0.7 billion from the previous year[60] - Total cash operating expenses (excluding energy and production taxes) were $10.2 billion in Q1 2025, reflecting a decrease of $1.5 billion compared to 2019 levels[59] - Total cash capital expenditures (Non-GAAP) for Q1 2025 were $5,936 million, compared to $5,268 million in Q1 2024, reflecting a 12.6% increase[102] Debt and Financing - Net cash used in financing activities was $13.6 billion in Q1 2025, including $4.8 billion for stock buybacks[96] - Total debt at the end of Q1 2025 was $37.6 billion, down from $41.7 billion at year-end 2024[96] Tax and Shareholder Returns - The effective income tax rate decreased to 34% in Q1 2025 from 36% in the prior year, primarily due to a change in the mix of results[99] - The Corporation distributed a total of $4.3 billion to shareholders in Q1 2025 through dividends[96] Future Plans and Sustainability - The corporation plans to invest between $27 billion and $29 billion in 2025, with actual spending subject to project progress and property acquisitions[102] - The company aims to achieve Scope 1 and Scope 2 net zero emissions from operated assets by 2050, with interim targets for the Permian Basin by 2030 and 2035[103] - Future plans include investments in carbon capture, lower-emission fuels, hydrogen, and ammonia, contingent on technological progress and market factors[103] - The company acknowledges that current trends are not on track to achieve net-zero by 2050 without significant policy and technology advancements[105] - The medium-term business plans incorporate actions needed to advance greenhouse gas emission-reduction goals, updated annually[105] - Capital investment guidance in lower-emission technologies is based on corporate plans, with actual levels dependent on opportunity availability and public policy support[105] Market Conditions - The global trade environment remains volatile, with ongoing uncertainties regarding tariffs and trade-related actions impacting the corporation[49] - The corporation's refining margins improved in North America due to turnarounds and industry outages, despite global industry refining margins declining[60] - Market risks for Q1 2025 remain consistent with those discussed in the 2024 Annual Report, indicating stable market conditions[107] - The company emphasizes that forward-looking statements regarding sustainability efforts are not necessarily material to investors[104]

There's one great reason why Frontline is outperforming Exxon and Conoco stocks today.Uh-oh. OPEC is up to something, and it's probably not good for oil stocks -- or more precisely, not good for all oil stocks.Over the weekend, the OPEC+ group of oil producing nations, plus a few that aren't officially a part of the cartel, such as Russia, announced plans to "surge" production of oil in June, as CNBC reports. Stocks of oil-producing companies including ExxonMobil (XOM -2.56%) and ConocoPhillips (COP -3.10%) ...

Core Viewpoint - Exxon Mobil demonstrates resilience in uncertain markets with better-than-expected profitability and a sustainable capital return outlook, despite competitors like Chevron and BP cutting their share repurchase plans by over 40% [1] Financial Performance - ExxonMobil affirmed a capital return outlook of $20 billion for 2025, following a $9.1 billion return in Q1, which includes dividends and share repurchases [2] - The company has a dividend yield of 3.73%, with an annual dividend of $3.96 and a 42-year track record of dividend increases [2] - In Q1, ExxonMobil's revenue was flat year-over-year and slightly below analyst consensus, impacted by a 10% decline in WTI oil prices, although production increased by 20% [8] Share Repurchase and Capital Return - ExxonMobil spent more on share buybacks than on dividends, but the share count increased year-over-year due to the Pioneer acquisition [3] - The capital return in Q1 exceeded free cash flow, which negatively impacted the balance sheet [3] Balance Sheet Health - Despite a low single-digit decline in cash and total assets, debt and liabilities also decreased, leaving equity flat, indicating a healthy balance sheet [4] Market Outlook - Analysts suggest a range-bound trading outlook for ExxonMobil, with a Moderate Buy rating, but price targets have been reduced, indicating potential pressure on stock prices [5][6] - The upstream segment showed strong performance with over 19% earnings growth attributed to increased production and the Pioneer acquisition [9]