ExxonMobil was founded in 1999 by a merge between Exxon and Mobil. Both of these companies are decedents of John D. Rockefeller corporation, Standard Oil which was established in 1870. After the expose of the company to the public, the Supreme Court ruled that this company was to be broken up into 34 smaller companies. Two of these companies were Jersey Standard which eventually changed its name to Exxon and Socony which eventually changed its name to Mobil. Rex W. Tillerson is the current Chairman and CEO, Mark W. Albers and Micheal J. Dolan are the current Senior Vice Presidents and Donald D. Humphreys is a Senior Vice President and Treasurer.
ExxonMobil is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2009, it produced 2.4 million barrels of oil and 9.3 billion cubic feet of natural gas a day. At year-end 2009, reserves stood at 14.95 billion barrels of oil (plus 8.03 billion for equity companies), 62% of which are oil. The company is the world's largest refiner with 37 refineries, and it is one of the world's largest manufacturers of commodity and specialty chemicals.
ExxonMobil competes with such gas stations as BP, Shell, Chevron, Texaco, Hess, Valero, and Sunoco to name a few in our area.
We bought XOM because everyone needs gas if they are going to go anywhere and we felt that ExxonMobil was a good company to invest in. Our group purchased 35 shares of XOM at $66.15 on 1/26/2010. We sold all 35 shares on 3/8/2010 at $66.72. We sold these shares because we made a $.57 profit and because shortly after we bought it the stock dropped so we just wanted to get rid of it while still making a profit.
Fine post again.
ReplyDelete