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Started By
Message
re: Exxon Mobil’s Q2 income falls 52%
Posted on 7/31/15 at 8:59 pm to redstick13
Posted on 7/31/15 at 8:59 pm to redstick13
quote:
Two biggest costs are depreciation and personnel. Look for them to start unloading both.
They already did, sold their portion of Chalmette Refining
0
Posted on 7/31/15 at 9:10 pm to stout
quote:
Lou Pai is Jersey Tiger BTW
Glad to see he's back but not sure why his old account was deleted. That rarely happens.
Haha, no I'm not.
Posted on 7/31/15 at 9:12 pm to AndyCBR
quote:
some of the highest profit margins can be realized when companies shrink overhead and reduce costs.
You really think the good times are when you are selling your product at $40 a unit versus $140 a unit?
Posted on 7/31/15 at 9:15 pm to The First Cut
quote:
You really think the good times are when you are selling your product at $40 a unit versus $140 a unit?
XOM doesn't just sell crude oil....
The lower cost helps in some of their finished product business. Plastics, chemicals, lube oils, waxes, etc. A quart of Mobil 1 synthetic doesn't go on sale when oil prices dip.
Posted on 7/31/15 at 9:18 pm to dragginass
Check out their balance sheet before posting. Mobil 1 isn't what drives their profit.
Posted on 7/31/15 at 9:19 pm to Lou Pai
Lou Pai is good people.
Posted on 7/31/15 at 9:20 pm to dragginass
Profits are waaaay off, Mobil 1 is inconsequential.
Posted on 7/31/15 at 9:21 pm to The First Cut
quote:
Profits are waaaay off, Mobil 1 is inconsequential
Point me to where I said Mobil 1 and crude oil are all XOM sells.
Thanks.
Posted on 7/31/15 at 9:23 pm to dragginass
Look at your owns posts. I'm not the one that thinks making a few more more pennies on a quart of Mobil 1 offsets losing $100 per barrel on crude sales.
Posted on 7/31/15 at 9:25 pm to The First Cut
Could you point me to where I said it was offsetting?
Thanks.
Thanks.
Posted on 7/31/15 at 9:26 pm to dragginass
Are you 12?
Posted on 7/31/15 at 9:28 pm to The First Cut
Can you read?
Lol, you, who think XOM's entire business is selling crude.
quote:
Look at your owns posts.
Lol, you, who think XOM's entire business is selling crude.
quote:
You really think the good times are when you are selling your product at $40 a unit versus $140 a unit?
Posted on 7/31/15 at 9:31 pm to dragginass
Ok, you win. XOM is making money hand over fist on refined products and doesn't care about crude dropping $100/barrel. I guess I have no idea why they are slashing capital expenditures by billions with all this Mobil 1 money.
Posted on 7/31/15 at 9:35 pm to The First Cut
You nailed it. I said all of those things, and implied worse. They should probably build a new Mobil 1 plant to keep up with all of the demand that's sure to come. Maybe add 10w30 pumps at all the gas stations.
Posted on 7/31/15 at 10:30 pm to The First Cut
quote:
They managed to make $4.2 billion in a bad business environment.
quote:
ExxonMobil expects to allocate $39.8 billion to capital expenditures in 2014.
You invest $40 billion in a year and net only $4.2 billion a quarter and tell me that it's ok.
Depends if that's net or gross, 10% net profit in a quarter on what is likely long-term capital investment is actually pretty awesome- like that's returns Madoff wouldnt have claimed.
Posted on 7/31/15 at 11:45 pm to dkreller
quote:
continue plugging and abandoning old wells
Soon as the price reaches $60/bbl the DUCs will come online. Prices could easily drop to the $20-$30 range.
US oil is officially dead. Truck nuts and F350's on mass sale.
Posted on 7/31/15 at 11:49 pm to TigerTatorTots
quote:
I don't think people understand the cyclical nature of the oil commodity and how far away we are from anything making a dent in the world's demand of it.
I've been in the industry since 1990. Way different dynamic this downturn.
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