2017-capital
Exxon boosts capital budget but takes $2 billion charge from XTO deal
February 1, 2017 by admin · Leave a Comment
Exxon Mobil Corp boosted its 2017 capital budget on Tuesday on a bet that oil prices have stabilized, but posted its lowest quarterly profit since 1999 as it took a $2 billion charge against the value of natural gas reserves from its buyout of XTO Energy. The world's largest publicly traded oil producer wrote down the book value of part of its North American natural gas and crude reserves, some of which were acquired in 2009…
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Exxon boosts capital budget but takes $2 billion charge from XTO deal