Languished

Houston-based and Alaska-focused Buccaneer Energy, which has struggled to fund its Cook Inlet drilling program as its shares have languished, is facing a move to replace its entire board by two dissident shareholder groups that argue the company needs to streamline its operations and tone down its ambitions.

ExxonMobil Corp.’s oil and gas production volumes had languished before 2010, often in the single digits, as the oil major failed to build a resource base to equal its massive profits. However, that changed last year with the purchase of U.S. shale king XTO Energy Inc. and was proved Thursday when ExxonMobil said its quarterly volumes were up 10% from a year ago.

ExxonMobil Corp.’s oil and gas production volumes had languished before 2010, often in the single digits as the oil major failed to build a resource base to equal its profits. However, that changed last year with the purchase of U.S. shale king XTO Energy Inc. and was proved Thursday when ExxonMobil said its quarterly volumes were up 10% from a year ago.