Permian, Guyana production hits record

Exxon beats Q4 estimates with higher Permian, Guyana output
Exxon Mobil on Friday beat Wall Street's estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and weaker refining margins. Its adjusted profit was $7.39 billion or $1.
Exxon edges higher as Q4 earnings top consensus; Permian, Guyana production hits record
Exxon Mobil (NYSE:XOM) +0.4% pre-market Friday after reporting Q4 adjusted earnings that were roughly flat compared with the year-earlier quarter but ahead of Wall Street estimates, driven by high-margin projects in the Permian Basin and Guyana.
Record Permian and Guyana Output Helps Exxon Beat Q4 Earnings Estimates
ExxonMobil reported fourth-quarter earnings that beat analyst expectations, driven by record production in the Permian Basin and Guyana, despite lower refining margins.
ExxonMobil books over $7.3 billion profit on record Permian and Guyana production
Production in both the US Permian shale basin and Guyana reached a record high, with Guyana volumes recovering after maintenance during last quarter. Overall production was just above 4.6 million barrels of oil equivalent per day in the fourth quarter, and 4.3 million boepd for the full year.
Exxon Mobil's strong fourth quarter fueled by rising production in the Permian, Guyana
The results topped Wall Street expectations, though Exxon does not adjust its reported results based on one-time events such as asset sales. Analysts polled by Zacks Investment Research anticipated earnings of $1.
Chevron Sees Permian Basin Oil Growth Reaching 10% This Year
Chevron Corp. plans to increase oil production by as much as 10% in the US Permian Basin this year despite reducing capital spending in the region, said Chief Executive Officer Mike Wirth.
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