Exxon Mobil: New Highs On Utica Shale, Rosneft In 2013

The last month was quite disturbing for major oil producers as the oil price continued to tumble and affected their profits negatively. The crude oil companies are planning to cut down supply to stabilize the international market.

Royal Dutch Shell plc (ADR) (RDS.A) reported financial results for the second quarter of its fiscal year 2014 (2QFY14, ended June 30, 2014) before the opening bell in New York today. The Anglo-Dutch oil and gas supermajor saw its quarterly earnings double from same period last year due to higher oil and natural gas prices and higher liquid petroleum production. Natural gas price in the US increased 14% YoY and crude oil rose by 9.4% YoY due to higher demand.

Royal Dutch Shell Plc announced on Thursday the sale of onshore U.S. shale gas assets as the energy company restructures its North America production and reins in costs. Shell said it had agreed to sell its relatively mature natural gas-producing properties in Wyoming’s Pinedale field and Louisiana’s Haynesville field for about US$2.1-billion in cash. The Anglo-Dutch company is selling the Pinedale asset to Ultra Petroleum in exchange for US$925-million in cash and acreage in the Marcellus and Utica oil and gas shale fields in Pennsylvania.

Rex Energy Corporation (REXX) announced Tuesday it is acquiring 208,000 gross acres of the Appalachian Basin from an affiliate of Royal Dutch Shell plc (ADR) (RDS.A). The independent energy company will pay $120 million for the acquisition deal, which will give it 100% interest in Shell Western Exploration and Production Inc. (SWEPI) LP in the Marcellus, Burkett and Utica shales in Pennsylvania and Ohio.

By Jeff Williams:As costs have increased and margins are expecting to decrease, oil and gas majors including Royal Dutch Shell (RDS.A) (RDS.B) have released their first profit warn

By Dividend Kings:Falling, or rather plunging, natural gas prices have been hard on natural gas stocks and even big diversified energy stocks like Exxon Mobil Corporation (XOM) are feeling some of the pain, thanks to having exposure to natural gas. However, Exxon Mobil has remained resolute in its focus on natural gas for the long term, which begs the question: should investors be concerned about that?

Royal Dutch Shell Plc (ADR) (RDS.A) welcomed the proposal by British Colombia to slash the tax rate on revenue generated by the sale of liquefied natural gas (LNG) to 3.5%, instead of the earlier proposed 7%. This tax rate will be in effect until 2037 after which it will rise to 5%

By Income Hunter:Chevron (CVX) shareholders are growing nervous as oil prices fell throughout the month of May. The Brent crude oil spot price started the month at $119.57 per barrel on May 1, falling to $111.40 on May 15, a 7% decline. Most of Chevron's production is oil as Chevron largely ignored the natural gas rush.