ExxonMobil Corp. (NYSE: XOM), like its peers, benefited from higher oil and gas prices as the company grew its earnings by 16% during first-quarter 2018 to $4.7 billion. But its production sank by 6% to 3.9 million barrels per day (bbl/d).
The Irving, Texas-based company pointed to entitlements, downtime in Papua New Guinea (PNG) and Canada along with divestments—which included selling its stake in the Scarborough gas field offshore Western Australia and the Terra Nova oil project offshore Canada—for the quarterly production decline.
Something interesting to share?
Join NrgEdge and create your own NrgBuzz today
high efficiency oil boiler - Boyle Energy Provide best Oil Furnace Repair & Installation experts. We also provide free installation estimates for new High Efficiency oil furnaces. Oil furnaces & boilers with high efficiency save your energy & money over time
oil hot water boiler - Upgrading to a high efficiency furnace or boiler is an effective way to save cost and energy. Boyle Energy present this opportunity to deliver high performance and exceptional fuel efficiency and economically significant.