Exxon Mobil

Energy Companies | Exxon Mobil | Hydraulic Fracturing | Industrywide Issues | Research

Exxon “Shale is Worth the Risks” Report for Shareholders
October 2, 2014October 2, 2014

For years now environmental activists/wackos have been “demanding” that companies like ExxonMobil and Chevron disclose the “risks” involved with shale drilling (see this 2011 MDN article: Exxon Mobil, Chevron Face Shareholder Questions about Environmental Impact of Hydraulic Fracturing at Annual Meetings). A number of left-leaning pressure groups continuously attempt to get big investors to dump their shares in fossil fuel companies, sometimes succeeding (see United Church of Christ Votes to Divest from Fossil Fuel Companies). The pressure has become intense. Earlier this year, the mafia-like New York State Comptroller, Thomas DiNapoli, who happens to be the sole person in charge of the enormous New York State Common Retirement Fund, brought his considerable pressure to bear. DiNapoli threatened to dump the fund’s $1.02 BILLION worth of Exxon Mobil stock unless the company writes up a report on the potential hazards of unconventional drilling (see Exxon Mobil Shaken Down by NYS Comptroller Thomas DiNapoli). Exxon complied and has just released their report (full copy below)…
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Anti-Drilling/Fossil Fuel | Energy Companies | Exxon Mobil | Hydraulic Fracturing | Industrywide Issues | New York | Regulation | Statewide NY

Exxon Mobil Shaken Down by NYS Comptroller Thomas DiNapoli
April 8, 2014April 7, 2014

The Comptroller of the State of New York, Thomas DiNapoli, is the sole person in charge of The New York State Common Retirement Fund–a fund with $160 billion in it. DiNapoli, or rather the NYS Common Retirement Fund, owns $1.02 billion of Exxon Mobil stock. Unfortunately, DiNapoli is an anti-drilling bully (see our list of MDN articles here). When someone like DiNapoli has you by the short hairs and is pulling, you ask him how high he wants you to jump. That’s what’s happening to Exxon Mobil.

DiNapoli is forcing Exxon Mobil to write a cockamamie report on the so-called hazards of fracking, to be released this September on the Exxon website. So what if the report shows there are no (or very few) actual hazards in fracking? Yeah, right. They don’t call people like Tommy DiNapoli a goodfella for nuttin’. Exxon is getting shaken down by a bullying investor that holds a lot of stock. And not just any investor–but a government official to boot. It’s sleazy, it’s disgusting, and it’s New York politics. What do you think Exxon’s report on fracking will say?…
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Air Quality | Chesapeake Energy | Energy Companies | Exxon Mobil | Industrywide Issues | Regulation | Ultra Petroleum

Rogue Obama EPA Goes on Methane Witch Hunt
April 2, 2014April 2, 2014

The recent Climate Action Plan to cut methane emissions emitted by the White House last week contains this ominous bullet point: “EPA will assess several potentially significant sources of methane and other emissions from the oil and gas sector. EPA will solicit input from independent experts through a series of technical white papers, and in the fall of 2014, EPA will determine how best to pursue further methane reductions from these sources.”(1) The good news is that the overbearing, out-of-control actions by the Obama EPA will only apply to drilling on federal lands. The bad news is that they will try to bully individual states to adopt the same new onerous regulations, thereby making federal regulations de facto in many locations.

Will the EPA methane witch hunt affect the Marcellus and Utica region? Too early to tell whether PA, OH and WV will cave to Obama EPA pressure. Here’s an analysis of how onerous new regulations may affect several drillers with major operations in the Marcellus…
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Energy Companies | Exxon Mobil | Industrywide Issues | Research

ExxonMobil Annual Energy Report: NatGas Fastest Growing Fuel
December 13, 2013December 13, 2013

Understanding the global energy picture is helpful so we know where the shale energy piece “fits” in that picture. Each year ExxonMobil prepares an annual energy outlook. Yesterday they released the 2014 ExxonMobil Outlook for Energy: A View to 2040 report (full copy embedded below). Some interesting tidbits from the report: ExxonMobil says global energy demand will be 35% higher in 2040 than it was in 2010. Not surprisingly, they figure 60% of the world’s energy needs for the foreseeable future (until 2040) will be met by oil and natural gas, although renewables continue to grow.

Something else they note of great interest to MDN readers: “Natural gas will continue to be the fastest-growing major fuel source as demand increases by about 65 percent. Natural gas is projected to account for more than one quarter of all global energy needs by 2040 and it is expected to overtake coal as the largest source of electricity.” Here’s ExxonMobil’s press release announcing some of the key findings in this year’s report, followed by a full copy of the report:
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Butler County | Energy Companies | Exxon Mobil | Industrywide Issues | NGLs | Pennsylvania | Processing Plants | XTO

XTO’s New NGL Recovery Plant in Butler County, PA Now Online
June 18, 2013June 18, 2013

Flying under the radar for more than year, XTO Energy (the Marcellus/Utica Shale subsidiary of Exxon Mobil) announced yesterday their natural gas liquids (NGL) recovery plant in Butler County, PA is now up and running. The plant will process wet gas coming from the the southwestern portion of PA, separating NGLs from methane. Although not referenced in the XTO announcement (see below), the recovered NGLs will be fractionated (further separated) and marketed by MarkWest (see MarkWest Signs Deal with XTO to Process NGLs in PA).

The announcement from XTO that their new NGL recovery plant is now up and running:
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Anadarko | Chevron | CONSOL Energy | Coterra Energy (Cabot O&G) | Energy Companies | EQT Corp | EXCO Resources | Exxon Mobil | Noble Energy | Range Resources Corp | Southwestern Energy | Talisman Energy | Ultra Petroleum

Who’s a Member of the Marcellus “1 Bcf/d” Club?
January 29, 2013January 29, 2013

At the end of an article about EQT, Seeking Alpha blogger and energy analyst Richard Zeits includes a short list of companies who either already belong, or soon will join, the “1 billion cubic feet per day club” of Marcellus Shale gas production.

So far only one driller has achieved 1 Bcf/d of Marcellus production (quick, which one is it?). EQT will likely join the club in 2014. Who else is on the short list to join them? Read on to find out…

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Anadarko | Chesapeake Energy | Chevron | Energy Companies | Energy Services | EnerVest | Exxon Mobil | Gulfport Energy | MarkWest Energy | Ohio | Statewide OH | Utica Shale

Motley Fool’s “Ubiquitous in the Utica”
December 21, 2012December 21, 2012

The Motley Fool investing website published a “round-up” type of article two days ago that focuses on the major players (drillers) in the Marcellus Shale (see this MDN story), part of a series that looks at major energy plays in the U.S. Yesterday they continued the series with an article that looks in detail at the Utica Shale.

The article starts off by listing the top 7 companies by the amount of acreage they lease. They are (from highest to lowest amount of acreage):

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Anadarko | Chesapeake Energy | Chevron | CONSOL Energy | Coterra Energy (Cabot O&G) | Energy Companies | EQT Corp | Exxon Mobil | Noble Energy | Range Resources Corp | Shell | Southwestern Energy | Talisman Energy

Motley Fool’s “Moguls of Marcellus”
December 20, 2012December 20, 2012

The Motley Fool investing website published a “round-up” type of article yesterday that focuses on the major players (drillers) in the Marcellus Shale, part of a series that looks at major energy plays in the U.S.

The article starts off by listing the top 11 companies by the amount of acreage they lease. They are (from highest to lowest amount of acreage):

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Alternative Energy | Energy Companies | Exxon Mobil | Industrywide Issues | Research

ExxonMobil Predicts World Fossil Fuel Usage Up 5% by 2040
December 12, 2012December 12, 2012

ExxonMobil, not only the world’s largest energy company but the world’s largest company period by revenue, publishes an annual Outlook for Energy. Yesterday they issued the 2013 edition (embedded below). The annual publication is an inside look at how some of the world’s keenest minds in energy view what’s coming down the road for energy over the next 30 years.

A few (very interesting) highlights from this year’s edition:

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Energy Companies | Exxon Mobil | Industrywide Issues | Taxation

Exxon Mobil Foolishly Backs Obama Carbon Tax Idea
November 16, 2012November 16, 2012

Exxon Mobil is a major disappointment. Since 2009 they’ve supported a so-called “carbon tax” over what they consider a less-desirable alternative—legislation capping carbon dioxide emissions. Carbon dioxide, in case you didn’t know, is the substance you breathe out with every breath you take. Plants breathe it in. Plants, on the other hand, expire oxygen that we animals breathe in—something called the circle of life. Obama and green wackos want to tax carbon dioxide emissions in the misbegotten belief it’s “polluting the planet” and that by taxing it, you will cause its use to go down. (Maybe a tax on breathing will be next?) Boggles the mind.

What boggles the mind even more is Exxon’s support for the idea. A carbon tax is nothing more than a huge, new tax increase that gives greedy politicians more money to play with, reduces manufacturing activity (and jobs at those manufacturers), and overall is about the worst idea anyone has had in oh, about a century.

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Economic Impact | Energy Companies | Exxon Mobil | Industrywide Issues

ExxonMobil: Shale Gas is Revitalizing U.S. Petrochemical Industry
November 13, 2012November 13, 2012

At a petrochemical industry conference last week in Philadelphia, a senior ExxonMobil executive said shale gas in general, and the Marcellus Shale in particular, is revitalizing the petrochemical industry in this country.

Comments from Lynne Lachenmyer, senior vice president, ExxonMobil Chemical Company:

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BP | Chevron | ConocoPhillips | Energy Companies | Equinor/Statoil | Exxon Mobil | Shell | Total

Top 10 Energy Companies & Top 10 Drillers Worldwide
October 29, 2012October 29, 2012

Each year Platts publishes a list of the top 250 energy companies in the world. They evaluate companies using four metrics: asset value, revenue, profit, and return on invested capital. It probably won’t surprise you to find out that 7 of the top 10 energy companies in the world have a presence in the Marcellus or Utica Shale.

Here’s the Platts list of the top 10 energy companies in the world for 2012:

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Energy Companies | Exxon Mobil | XTO

Will Exxon’s Lack of Marcellus Drilling Lead to Expired Leases?
August 24, 2012August 24, 2012

An energy industry consultant and investment analyst writes an interesting article on Seeking Alpha about Exxon Mobil’s commitment to dry shale shale (“methane only”). Richard Zeits characterizes Exxon’s shift away from dry to wet gas (oil and natural gas liquids) as “radical,” citing Exxon’s onshore rig count decline from 71 to 50 rigs (a 30% drop) since the beginning of this year as evidence of the change. He estimates they use less than 10 of the remaining 50 rigs for drilling in dry gas areas.

Zeits says that Exxon may not be able to hold a sizable amount of leased acreage they hold in dry gas areas of the Marcellus and Fayetteville Shale basins because of the reduced rig count. That is, they won’t be able to drill on the leased acreage by the time the leases expire—especially in the Marcellus where they’re only operating four rigs on 660,000 acres of holdings.

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Energy Companies | Exxon Mobil | Hydraulic Fracturing | Industrywide Issues

ExxonMobil CEO Delivers Major Speech on U.S. Energy
June 28, 2012June 28, 2012

In a speech delivered at the Council on Foreign Relations on Wednesday, ExxonMobil CEO Rex Tillerson said fears about climate change, drilling and even energy dependence on other countries are all overblown. He said he believes burning fossil fuels does lead to global warming, but it’s no big deal and certainly not an impending cataclysm. He also said the press and environmentalists are manufacturing fear about fracking and fossil fuels.

Perhaps the most controversial thing he said is that the general public is “illiterate” when it comes to science and math.

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Chevron | Energy Companies | Exxon Mobil

Full Speed Ahead in the Marcellus for Chevron & Exxon Mobil
March 12, 2012March 12, 2012

Not every driller is pulling back from drilling natural gas to focus on oil and gas liquids. In fact, for two of the largest energy companies in the U.S., it’s full speed ahead with drilling in the Marcellus. Those two companies? Chevron and Exxon Mobil. Chevron is planning to double its drilling in the Marcellus in the near term.

From a recent story in the Wall Street Journal:

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Education | Energy Companies | Exxon Mobil | Industrywide Issues | Pennsylvania | Statewide PA

Exxon, GE Donate $1M Each for Shale Best Practices Training
March 9, 2012March 9, 2012

Exxon Mobil and General Electric announced yesterday that each company is investing $1 million to help fund training in shale development best practices at three universities, including PennState.

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