Exxon Mobil Executives Detail Growth Plan
March 07 2018 - 9:06AM
Dow Jones News
By Cara Lombardo
Exxon Mobil Corp. (XOM) expects its earnings and cash flow from
operations to approximately double by 2025, Chief Executive Darren
Woods told analysts at a meeting in New York Wednesday.
"Our existing business and plans for growth are robust to a wide
range of price environments, allowing us to maintain a growing
dividend and a strong balance sheet while returning excess cash to
our shareholders," Mr. Woods said in prepared remarks.
The plan projects double-digit rates of return in Exxon Mobil's
upstream, downstream and chemical businesses.
In upstream, the company plans to make low-cost-of-supply
investments in tight oil, liquefied natural gas and deepwater and
increase production from 4 million oil-equivalent barrels per day
to about 5 million.
Exxon shares, down 7.7% over the past year, slid about 1%
premarket Wednesday.
Write to Cara Lombardo at cara.lombardo@wsj.com
(END) Dow Jones Newswires
March 07, 2018 08:51 ET (13:51 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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