W3Schools

Earnings Outlook: Exxon’s earnings: Expect an update on plans for the Permian Basin

Exxon Mobil Corp. is scheduled to report fourth-quarter earnings before the bell Tuesday.

Exxon XOM, +0.30% is fresh from making a multibillion-dollar bet on West Texas’ Permian Basin, where it will double its acreage. The deal is part of an effort to ramp up activity in an oil-and-gas area that is of interest to many energy companies.

“The Permian had been considered to be one area where (Exxon) could act more aggressively and pursue a larger public deal,” analysts at Morgan Stanley said in a recent note.

Whether Exxon plans to prioritize drilling in the Permian will likely be a focus as the company reports results, said Pavel Molchanov, an analyst with Raymond James.

>>> Original Source <<<

Comentários