On Wednesday, Shares of Exxon Mobil Corporation (NYSE:XOM), gained 1.68% to $78.79, as Oil prices edged up from six-year lows on Wednesday (Aug 12) as US oil supplies declined and the dollar retreated.
US benchmark West Texas Intermediate for September delivery rose 22 cents to US$43.30 a barrel on the New York Mercantile Exchange. The US contract on Tuesday closed at the lowest level since March 2009. European benchmark Brent oil for September delivery gained 48 cents to US$49.66 a barrel in London.
Oil prices also received support from a retreat in the dollar on Wednesday as China’s move to devalue its currency against the greenback sparked speculation the US Federal Reserve will move more slowly to hike interest rates.
A cheaper dollar lifts demand outside the US for crude oil, which is traded in the US currency on international markets.
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/South America, Europe, Africa, Asia, and Australia/Oceania.
Shares of Staples, Inc. (NASDAQ:SPLS), inclined 0.28% to $14.16, during its last trading session.
Staples will hold its quarterly conference call to talk about second quarter 2015 results on Wednesday, August 19, 2015 at 8:00 a.m. Eastern Time.
Staples, Inc., together with its auxiliaries, operates office products superstores. It operates through three segments: North American Stores & Online, North American Commercial, and International Operations.
Finally, Devon Energy Corporation (NYSE:DVN), ended its last trade with 1.23% gain, and closed at $47.88.
Devon Energy Corporation declared core earnings of $320 million, or $0.78 per diluted share, for the second quarter of 2015. This compares with first-quarter 2015 core earnings of $89 million, or $0.22 per diluted share.
Oil Production Exceeds Expectations for Fourth Successive Quarter
Devons oil-driven capital program continued to deliver strong results in the second quarter of 2015. Total oil production averaged 270,000 barrels per day, a 32 percent enhance contrast to the second quarter of 2014. This result surpassed the midpoint of guidance by 5,000 barrels per day, marking the fourth successive quarter the Company has exceeded oil production expectations.
The most noteworthy growth came from the Companys U.S. operations, where oil production averaged a record high 172,000 barrels per day. This result was 35 percent higher than the year-ago quarter and exceeded the top end of guidance expectations by 2,000 barrels per day. Growth in U.S. production was largely attributable to the Companys Eagle Ford and Delaware Basin assets. Net production in the Eagle Ford averaged 114,000 Boe per day in the second quarter, a 75 percent enhance contrast to the second quarter of 2014. In the Delaware Basin, led by outstanding results from the Bone Spring play, production raised to 64,000 Boe per day in the second quarter, a 40 percent enhance contrast to the year-ago period.
In Canada, net production from the Companys heavy-oil projects reached an average 98,000 barrels of oil per day in the second quarter. Driven by the continued ramp-up of the Jackfish 3 facility, Canadian oil production raised 27 percent contrast to the second quarter of 2014. Planned maintenance at the Companys Jackfish 1 oil sands project limited production by about 11,000 barrels per day in the quarter.
In total, Devons production averaged 674,000 Boe per day during the second quarter of 2015. This result represents a 9 percent enhance contrast to the second quarter of 2014, with liquids accounting for 60 percent of the Companys production mix.
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids (NGLs) in the United States and Canada.
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