Items Tagged with 'billion'

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ExxonMobil Boosting Activity, Raising Capex by 14%; Takes $2B Charge Against U.S. NatGas Fields

ExxonMobil Corp. recorded a $2 billion writedown on the value of U.S. natural gas fields during the final three months of 2016, but the supermajor is remaining focused on the long-term, with a continuing tilt toward increasing oil production and expanding its domestic petrochemicals arm, the investor relations chief said Wednesday.

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Texas Taxman Looking Forward to More Oil/NatGas Revenue

The Texas oil and natural gas industry is making its presence felt through a currently diminished contribution to Lone Star State coffers because of the commodities price rout and industry downturn. However, tax collections from oil and gas activity are expected to be on the upswing. Read More