Permian Highway Pipeline, LLC today announced a final investment decision to proceed with its expansion project after securing binding firm transportation agreements for all available capacity. The project will increase PHP's capacity by approximately 550 million cubic feet per day . The project will involve primarily additional compression on PHP to increase natural gas deliveries from the Waha area to multiple mainline [...]
ExxonMobil said today that its Canadian affiliates, Imperial and ExxonMobil Canada, have entered into an agreement with Whitecap Resources Inc. for the sale of XTO Energy Canada, which is jointly owned by Imperial and ExxonMobil Canada. The sale, for a total cash consideration of about U.S. $1.47 billion, is expected to close before the end of the third quarter, subject to regulatory approvals. The sale completes the [...]
ExxonMobil and QatarEnergy today announced they have signed an agreement to further develop Qatar's North Field East project, which will expand Qatar's annual LNG capacity from 77 million tons to 110 million tons by 2027. The deal was announced at QatarEnergy's headquarters in Doha. "We are collaborating with QatarEnergy on North Field East to accelerate the production of secure, affordable and cleaner energy our world [...]
ExxonMobil today released the following statement in response to a letter from President Biden. We have been in regular contact with the administration to update the President and his staff on how ExxonMobil has been investing more than any other company to develop U.S. oil and gas supplies. This includes investments in the U.S. of more than $50 billion over the past five years, resulting in an almost 50% increase in our [...]
ExxonMobil said today it plans to grow shareholder value by delivering solutions that help meet the global need for energy and for lower greenhouse gas emissions to address climate change. Darren Woods, chairman and chief executive officer, outlined how the company's strategy leverages its capabilities and competitive advantages at the annual meeting of shareholders. "We have opportunities to play a leading role in [...]
ExxonMobil said today it signed an agreement with subsidiaries of BKV Corporation for the sale of operated and non-operated Barnett Shale gas assets in Texas for $750 million with additional payments contingent on future natural gas prices. "We are focused on delivering the most competitive returns to our shareholders by developing opportunities with the lowest cost of supply and further strengthening our industry-leading [...]
ExxonMobil has reached an agreement to sell its Romanian upstream affiliate, ExxonMobil Exploration and Production Romania, to Romgaz for more than $1 billion, subject to Romanian government approvals. "ExxonMobil continues to evaluate our portfolio of opportunities, focusing our investments in advantaged assets with a low cost of supply," said Liam Mallon, president of ExxonMobil Upstream Company. "Our investments to [...]
In the Chemical section of the release, the first sentence of the fifth bullet, should read: The company is progressing plans to increase its global offer of certified circular polymer with capacity to process up to 500,000 metric tons of plastic waste per year by 2026. The updated release reads: EXXONMOBIL ANNOUNCES FIRST-QUARTER 2022 RESULTS Earned $5.5 billion in first quarter 2022; generated $14.8 billion of cash flow [...]
The Board of Directors of Exxon Mobil Corp. today declared a cash dividend of $0.88 per share on the Common Stock, payable on June 10, 2022 to shareholders of record of Common Stock at the close of business on May 13, 2022. This second quarter dividend is at the same level as the dividend paid in the first quarter of 2022. Through its dividends, the corporation has shared its success with its shareholders for more than [...]
ExxonMobil has made three new discoveries offshore Guyana and increased its estimate of the recoverable resource for the Stabroek Block to nearly 11 billion oil-equivalent barrels. The three discoveries are southeast of the Liza and Payara developments and bring to five the discoveries made by ExxonMobil in Guyana in 2022. The Barreleye-1 well encountered approximately 230 feet of hydrocarbon-bearing sandstone and was [...]
ExxonMobil said today that approximately 200 million cubic feet per day of natural gas produced from its Permian Basin facilities at Poker Lake, New Mexico have been independently certified and received the top grade for methane emissions management. The certification from MiQ helps the company meet customer demand for energy produced with fewer emissions. ExxonMobil is the first company to achieve certification for [...]
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