ExxonMobil predicts Q2 upstream earnings to increase by $300-$700M due to oil price changes, after acquiring Pioneer Natural Resources.
ExxonMobil forecasts oil price changes to raise its Q2 upstream earnings by $300-$700M compared to Q1, as it reports first earnings after acquiring Pioneer Natural Resources for $60B, making it the largest oil producer in the Permian Basin. However, it expects gas price changes to decrease Q2 upstream earnings by a similar range. The company reported $5.7B in upstream earnings in Q1.
July 08, 2024
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