So production increased over 20%; typical management is following the American greed scenario....ceo's of oil companies think they must increase production and that will increase profits....that relationship is dead when all other companies do the same thing and killed $100 oil.....ceo's should hire an economist to figure out the impact of increasing production greater than annual demand growth which has averaged 1-2%. Maybe they will all learn.
My guess is $1.5 billion which should get rid of most of their intangibles. This will have no impact on debt covenants (debt to book value), but the size should scare the market. Good buying opportunity as OPEC seems to be calling a price increase in the second half. Notice no name calling in the message my fellow posters.
CEO says xom's production will increase annually and then says oil prices will remain low; you think there is a connection here- he should talk to an economist- duh!
Area Last Count Count Change from Prior Count Date of Prior Count Change from Last Year Date of Last Year's Count
U.S. 13 March 2015 1125 -67 6 March 2015 -684 13 March 2014
Canada 13 March 2015 220 -80 6 March 2015 -302 13 March 2014
International February 2015 1275 +17
Courtesy from emunster's stockhouse posting
And yet Exxon keeps increasing supply.....he's kind of stupid......Exxon is not cutting back on supply/production