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Exxon seeks to more than double earnings, cash flow by 2025

Published 03/07/2018, 09:16 AM
© Reuters.  Exxon seeks to more than double earnings, cash flow by 2025
XOM
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  • Exxon Mobil (NYSE:XOM) outlines an aggressive growth plan to more than double earnings and cash flow by 2025 and boost production by 25% to 5M bbl/day.
  • The plan projects double-digit rates of return in all three segments of XOM’s business - upstream, downstream and chemical - Chairman and CEO Darren Woods says at XOM’s annual meeting of investment analysts at the NYSE.
  • XOM says it plans to increase tight oil production five-fold from the Permian Basin, where it has increased the size of its resource to 9.5B boe from less than 3B in the past year.
  • XOM says exploration success in Guyana has added 3.2B boe of recoverable resource, with plans in place for development and further exploration.
  • XOM -1.2% premarket, perhaps because it did not announce an anticipated stock buyback plan.
  • Now read: Market Rover: 75 High-Yield Energy Names Sold Off, These 2 Are Worth Considering


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