ExxonMobil Corporation on Friday announced estimated first-quarter 2022 earnings of US$5.5 billion, or US$1.28 per share assuming dilution.
A release from ExxonMobil said that first-quarter results included an “unfavourable identified item” of US$3.4 billion associated with the company’s planned exit from Russia Sakhalin-1, or US$0.79 per share assuming dilution. First-quarter capital and exploration expenditures were US$4.9 billion.
In its earnings report, ExxonMobil noted that it achieved first oil at the Liza Phase 2 development in Guyana’s waters and that the Payara Floating Production, Storage and Offloading platform construction is approximately five months ahead of schedule with start-up likely before year-end 2023. It also announced five new discoveries here, increasing the estimated recoverable resource base for the Stabroek block to nearly 11 billion oil-equivalent barrels