Exxon Struggling with Production

[tarulestheday]

Total worldwide liquids and natural gas production fell to 4.15 million barrels of oil equivalent a day, from about 4.4 million barrels a year ago and 4.55 million barrels in the first quarter.

The most dramatic downturn came in natural gas production, which dropped to 11.7 billion cubic feet equivalent per day, down from 14 billion in the first quarter and 12.3 billion in the year-ago quarter.

http://www.marketwatch.com/story/exxon-working-to-increase-production-2012-07-26?link=MW_latest_news

[admin]

Nice find tarules..

[Palm]

Not sure that the NG production is down because they are struggling, or whether it is an intentional cutback in the US due to low NG prices. Many US producers are not pumping NG that is from dry gas wells. Saw a report the other day on the huge drop in rigs in NA over the last year. Pretty dramatic.