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Exxon Mobil Q3 2017 Highlights
Earnings of $4 billion increased 50 percent from the third quarter of 2016.
Earnings per share assuming dilution were $0.93.
Cash flow from operations and asset sales increased 33 percent to $8.4 billion, including proceeds associated with asset sales of $854 million.
Capital and exploration expenditures were $6 billion, including an aromatics plant acquisition in Singapore.
Oil-equivalent production was 3.9 million barrels per day, up 2 percent from the prior year. Excluding entitlement effects and divestments, oil-equivalent production remained at 2 percent higher than the prior year.
The corporation distributed $3.3 billion in dividends to shareholders.
Dividends per share of $0.77 increased 2.7 percent compared to the third quarter of 2016.
The company acquired an interest in 12 blocks offshore Brazil during the last bid round completed during the quarter. The bid resulted in the addition of 2 million high-potential acres with competitive fiscal terms.
The company completed the Turbot-1 exploration well offshore Guyana. The well encountered 75 feet (23 meters) of high-quality, oil-bearing sandstone, and represents ExxonMobil’s fifth discovery to date in the country.
ExxonMobil signed a production sharing contract for Block 59 located 190 miles (305 kilometers) offshore Suriname. The deepwater block has an area of 2.8 million acres and significantly expands the corporation’s operated acreage in the Guyana-Suriname basin.
During the quarter, ExxonMobil announced it added 22,000 acres since May to its Permian Basin portfolio through a series of acquisitions and acreage trades. Located in the Delaware and Midland Basins, the new acreage adds over 400 million oil-equivalent barrels to the company’s existing Permian Basin resource base of 6 billion oil-equivalent barrels.
ExxonMobil completed the acquisition of one of the world’s largest aromatics facilities, located in Singapore, from Jurong Aromatics Corporation Pte Ltd. The acquisition will provide operational and logistical synergies between the plant and ExxonMobil’s integrated refining and petrochemical complex, as well as increase ExxonMobil Singapore’s aromatics production to over 3.5 million metric tons per year.
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