Exxon Mobil - XOM STOCK NEWS

ExxonMobil has completed the acquisition of Pioneer Natural Resources, transforming its upstream portfolio by doubling its Permian footprint. The merger combines Pioneer's acreage and expertise with ExxonMobil's technologies and project development capabilities. The companies aim to achieve double-digit returns, increase production volume, and transition to net-zero emissions by 2035.

Pioneer Natural Resources, listed on NYSE under PXD, responds to FTC settlement complaint in relation to its proposed merger with ExxonMobil. The company disagrees with the FTC's allegations directed at Mr. Sheffield, but is not taking steps to block the merger. Mr. Sheffield's career focus has been on the interests of investors, employees, and the U.S. energy industry. He believes the FTC misunderstands the oil markets and his actions. Pioneer has doubled its daily production from 346,000 to 715,000 barrels of oil equivalent from 2019 to 2023, contributing significantly to U.S. energy supplies.

Imperial Oil (TSE: IMO, NYSE American: IMO) announced the successful election of all seven director nominees at its annual meeting of shareholders. With 488,715,570 shares represented, each director received overwhelming support from shareholders. The company reaffirmed its position as a pioneer in technological innovation within Canada's energy sector.

Imperial announced the appointment of Cheryl Gomez-Smith as Senior Vice President, Upstream, effective May 1, 2024, succeeding Simon Younger. Younger has been appointed Lead Country Manager and General Manager Australia Conventional, ExxonMobil Upstream. Cheryl Gomez-Smith brings extensive global experience and expertise to the role, focusing on operational performance, production growth, and cost reduction.

Imperial Oil (IMO) has declared a second quarter 2024 dividend of 60 cents per share, showcasing its long history of growth and financial stability in Canada. The company has paid dividends annually for over a century and increased its annual dividend payment for 29 consecutive years.

Imperial (IMO) announces strong first quarter 2024 financial and operating results, with net income of $1,195 million, cash flows of $1,076 million, and upstream production of 421,000 barrels per day. The company achieved record production at Kearl and progress on key projects like Cold Lake Grand Rapids. Downstream operations also performed well, with a refinery capacity utilization of 94 percent and the Esso brand achieving No.1 retail market share in Canada. The company declared a quarterly dividend of 60 cents per share and filed regulatory applications for the Pathways Alliance carbon capture and storage project.

ExxonMobil reported strong first-quarter earnings of $8.2 billion, with $14.7 billion in cash flow and a final investment decision on a major project. The company achieved growth in performance chemicals and refining throughput, reduced methane emissions, and is investing in new technologies. Earnings per share increased to $2.06, with capital expenditures at $5.8 billion. The company plans to deliver $15 billion in cumulative structural cost savings by 2027.

Biloxi Marsh Lands released its unaudited results for the first quarter of 2024. The company received a termination notice for the CO2 Injection Agreement from Denbury, a subsidiary of ExxonMobil, leading to a payment dispute. Investors are advised to visit the company's website for more information.

ExxonMobil has applied to cease to be a reporting issuer in Canada, pending approval from the Alberta Securities Commission and the Ontario Securities Commission. Despite this change, the company will continue to file financial statements and disclosure materials in the US and on the NYSE.