Exxon expected to boost 3Q earnings
NEW YORK — Analysts are expecting an increase for the 3Q quarter for Exxon, given the rise in oil prices, according to the Associated Press. But they still question Exxon’s $29 billion acquisition of natural gas producer XTO Energy.
Exxon said it made the decision based on long-term assumptions about an increasing shift in the U.S. from coal to natural gas.
Still, analysts want to know how the company plans to increase oil production, which has been more profitable, and how quickly it can do it.