Overview
- Exxon Mobil reported adjusted earnings of $8.1 billion as production rose to 4.8 million boe/d, with record output in Guyana (over 700,000 boe/d) and the Permian (~1.7 million boe/d).
- Exxon returned $9.3 billion to shareholders in the quarter ($4.2 billion in dividends and $5.1 billion in buybacks) and raised its quarterly dividend 4% to $1.03 per share.
- Chevron posted adjusted earnings of $3.6 billion and record production of 4.1 million boe/d following its Hess acquisition, with operating cash flow excluding working capital near $9.9 billion.
- Chevron distributed $3.4 billion in dividends and repurchased $2.6 billion of shares, citing stronger refining margins and progress toward $2–$3 billion in cost reductions.
- Shell beat forecasts with $5.4 billion in adjusted earnings, announced a $3.5 billion buyback, and cut net debt to $41.2 billion, its 16th straight quarter with at least $3 billion of repurchases.