Shouldn’t take long to pay down debt at the rate oil prices are rising. Too bad our balance sheet wasn’t strong enough for us to have stuck with investing through the down cycle. Imagine if we had quit paying the dividend temporarily and stuck to our plans how much money we would be making. Would have built some things at rock bottom prices too instead of what we are going to be paying.
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No but that is kind of the point. We know oil prices are volatile and we weren’t prepared.
Awesome. We can now afford to increase the dividend!
The OP is either: 1) a troll that has zero knowledge of the O&G industry; 2) an employee in our Supply department; or 3) a sarcastic individual having a great LOL. My vote is all of the above.
The current price of oil is very temporary. Wont be long before OPEC opens up the faucet. With stimulus money ending and lots of people still laid off (including many more to come here at XOM) no one can really afford gas over 3 a gallon. This is the beginning of the end for the oil cartels.
DWW chickened out when sh-t hit the fan. Surely a painful ride ahead.
If you think anyone could have accurately forecasted oil prices during last year’s plan, you’re delusional.