EXXON MOBIL CORPORATION announces estimated third quarter 2013 results
EXXONMOBIL'S CHAIRMAN REX W. TILLERSON COMMENTED: “ExxonMobil’s third quarter results reflect our continued progress across a diverse set of profitable growth opportunities, which positions us well to deliver shareholder value. We maintain a long-term perspective on our business with a relentless focus on operational excellence and disciplined investing. Third quarter earnings were $7.9 billion, down 18% from the third quarter of 2012. Production of oil and natural gas increased from a year earlier as new projects were brought on line and maintenance-related downtime decreased. Significantly weaker refining margins as a result of increased industry capacity negatively impacted ExxonMobil’s Downstream earnings. Capital and exploration expenditures were $10.5 billion in the third quarter and $32.6 billion for the first nine months of 2013, in line with anticipated spending plans. The Corporation distributed $5.8 billion to shareholders in the third quarter through dividends and share purchases to reduce shares outstanding.”
THIRD QUARTER HIGHLIGHTS
- Earnings of $7,870 million decreased $1,700 million or 18% from the third quarter of 2012.
- Earnings per share (assuming dilution) were $1.79, a decrease of 14% from the third quarter of 2012.
- Capital and exploration expenditures were $10.5 billion, up 15% from the third quarter of 2012, in line with anticipated spending plans.
- Oil-equivalent production increased 1.5% from the third quarter of 2012. Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, production increased 2.7%, with liquids volumes up 5.3%.
- Cash flow from operations and asset sales was $13.6 billion, including proceeds associated with asset sales of $0.2 billion.
- Share purchases to reduce shares outstanding were $3 billion.
- Dividends per share of $0.63 increased 11% compared to the third quarter of 2012.
- The Esso Australia Pty Ltd operated Kipper Tuna Turrum project commenced natural gas production from the Tuna field and oil production from the Turrum field. The project is the largest domestic oil and gas development on Australia's eastern seaboard and will help secure Australia's energy future.
- As announced on August 8, 2013, Imperial Oil Limited and ExxonMobil Canada Ltd. have acquired ConocoPhillips' interest in the Clyden oil sands lease, approximately 95 miles south of Fort McMurray, Alberta. The Clyden lease contains 226,000 gross acres and is a high-quality addition to Imperial's portfolio of oil sands in-situ opportunities.
More information in attached files
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