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Exxon Mobil Reports 1Q13 Profit Rise of 1 Pct (USA)

April 26, 2013

Exxon Mobil Reports 1Q13 Profit Rise of 1 Pct

Exxon Mobil of USA said today that its first quarter earnings were $9,5 billion, which is 1% increase, compared to the first quarter of 2012.

First quarter highlights:

  • Earnings of $9,500 million increased $50 million or 1% from the first quarter of 2012.
  • Earnings per share (assuming dilution) were $2.12, an increase of 6%.
  • Capital and exploration expenditures were $11.8 billion, up 33% from the first quarter of 2012.
  • Oil-equivalent production decreased 3.5% from the first quarter of 2012. Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, production decreased 1.2%.
  • Cash flow from operations and asset sales was $14 billion, including proceeds associated with asset sales of $0.4 billion.
  • Share purchases to reduce shares outstanding were $5 billion.
  • Dividends per share of $0.57 increased 21% compared to the first quarter of 2012.
  • Rosneft and ExxonMobil have agreed to expand their 2011 Strategic Cooperation Agreement to include approximately 600,000 square kilometers (150 million acres) of additional exploration acreage in the Russian Arctic and potential participation by Rosneft in the Point Thomson project in Alaska. They have also agreed to conduct a joint study on a potential LNG project in the Russian Far East.
  • Production started from the Telok natural gas field, located offshore Malaysia in the South China Sea. The Telok A platform is the first phase of the Telok natural gas project.

ExxonMobil’s Chairman, Rex W. Tillerson, commented: “ExxonMobil achieved strong results during the first quarter of 2013, while investing significantly to develop new energy supplies. ExxonMobil’s financial performance enables continued investment to deliver the energy needed to help meet growing demand, support economic growth, and raise living standards around the world.

“First quarter 2013 earnings were $9.5 billion, up 1% from the first quarter of 2012.

“Capital and exploration expenditures for the first quarter were $11.8 billion, including $3.1 billion for the acquisition of Celtic Exploration Ltd.

“The Corporation distributed $7.6 billion to shareholders in the first quarter through dividends and share purchases to reduce shares outstanding.”

[mappress]
LNG World News Staff, April 26, 2013; Image: ExxonMobil