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[ Thu, Jan 30th 2025 ]: Reuters
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Exxon beats Q4 estimates with higher Permian, Guyana output

Exxon Mobil on Friday beat Wall Street's estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and weaker refining margins.
Exxon Mobil Corp reported a better-than-expected profit in the fourth quarter of 2024, driven by increased production in the Permian Basin and Guyana, despite lower oil and gas prices. The company's earnings were bolstered by a significant rise in oil and gas production, with Guyana's output nearly doubling from the previous year. Exxon's total production reached 3.83 million oil-equivalent barrels per day, up from 3.8 million the year before. Despite these gains, Exxon's profit fell from the previous year due to a decline in energy prices, with earnings per share at $2.48, surpassing the analysts' average estimate of $2.21. Additionally, Exxon announced a 4% increase in its quarterly dividend to 95 cents per share, reflecting confidence in its financial stability and future cash flows.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/energy/exxon-beats-q4-estimates-with-higher-permian-guyana-output-2025-01-31/ ]