In its first quarter 2025 results statement, which was published on its website recently, ExxonMobil revealed its oil and gas production figures for the first quarter of this year.
According to that statement, the company’s output averaged 4.551 million barrels of oil equivalent per day in the first quarter of 2025. ExxonMobil’s production came in at 4.602 million barrels of oil equivalent per day in the fourth quarter of 2024 and 3.784 million barrels of oil equivalent in the first quarter of last year, the statement highlighted.
Exxon’s net production of crude oil, natural gas liquids, bitumen and synthetic oil averaged 3.139 million barrels per day in the first quarter, the statement showed. Of this figure, the U.S. contributed 1.418 million barrels per day, Asia contributed 796,000 barrels per day, and Canada/Other Americas contributed 760,000 barrels per day, the statement revealed.
In the fourth quarter of last year, Exxon’s net production of crude oil, natural gas liquids, bitumen and synthetic oil averaged 3.213 million barrels per day, and in the first quarter of 2024, it averaged 2.557 barrels per day, the statement showed.
The U.S. contributed 1.468 million barrels per day to the fourth quarter 2024 figure and 816,000 barrels per day to the first quarter 2024 figure, while Asia contributed 694,000 barrels per day to the fourth quarter figure and 711,000 barrels per day to the first quarter figure, and Canada/Other Americas contributed 825,000 barrels per day to the fourth quarter figure and 772,000 barrels per day to the first quarter figure, according to the statement.
Exxon’s net natural gas production available for sale averaged 8.47 billion cubic feet per day in the first quarter of 2025, 8.33 billion in the fourth quarter of last year, and 7.36 billion cubic feet per day in the first quarter of last year, the statement outlined.
Asia contributed 3.45 billion cubic feet per day to the first quarter 2025 figure, while the U.S. contributed 3.26 billion cubic feet per day and Australia/Oceania contributed1.25 billion cubic feet per day, the statement pointed out.
In the fourth quarter of last year, the U.S. contributed 3.259 billion cubic feet per day, Asia contributed 3.18 billion cubic feet per day, and Australia /Oceania contributed 1.29 billion cubic feet per day, according to the statement, which showed that Asia contributed 3.27 billion cubic feet per day in the first quarter of last year, while the U.S. contributed 2.24 billion cubic feet per day and Australia/Oceania contributed 1.22 billion cubic feet per day.
In its results statement, ExxonMobil highlighted that upstream earnings in the first quarter of 2025 were $6.8 billion, which it pointed out was $1.1 billion higher than the same quarter last year.
“Earnings increased due to advantaged assets volume growth from the Permian and Guyana, and structural cost savings,” Exxon noted in its statement.
“Weaker crude realizations and higher depreciation were offset by other net favorable impacts primarily related to divestments,” it added.
“Net production increased 20 percent, or 767,000 oil equivalent barrels per day, to 4.6 million oil equivalent barrels per day from Permian growth driven by the acquisition of Pioneer, partly offset by non-core asset divestments,” it continued.
Exxon announced first quarter 2025 earnings of $7.7 billion in its statement, adding that cash flow from operating activities was $13.0 billion and that free cash flow was $8.8 billion.
“The work we’ve done to transform our company over the past eight years positions us to excel in any environment,” Darren Woods, the chairman and chief executive officer of Exxon, said in the statement.
“In the first quarter, we earned $7.7 billion and generated $13.0 billion in cash flow from operations. Since 2019, the strategic choices we made to reduce costs, grow advantaged volumes, and optimize our operations have strengthened quarterly earnings power by about $4 billion at current prices and margins,” he added.
“This year, we’re starting up 10 advantaged projects that are expected to generate more than $3 billion of earnings in 2026 at constant prices and margins,” he continued.
“Continuously leveraging our competitive advantage is enabling the company to excel in the current market environment and deliver on our plans through 2030 and far into the future,” Woods went on to state.
To contact the author, email andreas.exarheas@rigzone.com
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