In the Permian region of West Texas and New Mexico, Exxon’s output soared 90 percent. Even so, overall production was slightly lower than the 4.03 million barrels analysts had expected.
Woods made his debut on a quarterly conference call, the first Exxon chief to field questions on such a call in at least 15 years. His appearance came one day after a total reorganization of the company’s oil and natural gas exploration business.
Exxon shares jumped 3.5 percent to $75.82 at 11:06 a.m. in New York. Chevron rose 3.7 percent to $118.92.
This article provided by Bloomberg News.