BP plc (ADR) (BP) to Ramp up Its Efforts in Alaska

Page 2 of 2

Final thoughts
Though Shell may have retreated from its operations in Alaska due to harsh weather, equipment failures, and just plain bad luck, BP plc (ADR) (NYSE:BP), Exxon Mobil Corporation (NYSE:XOM) and ConocoPhillips (NYSE:COP) have decided to weather the storm. Since both BP and Exxon suffered meaningful year-over-year declines in their total oil and gas production in the first quarter, it’s no surprise that both are meticulously surveying their portfolio of assets around the world in an effort to squeeze out as many additional drops of oil as possible.

Indeed, Weiss even made clear that Exxon Mobil Corporation (NYSE:XOM)’s commitment wasn’t to boost Alaska production, but rather to “go after reducing decline as much as possible.” Expect this to be a dominant trend among the oil majors for the foreseeable future.

The article BP to Ramp up Its Efforts in Alaska originally appeared on Fool.com.

Fool contributor Arjun Sreekumar has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.


Page 2 of 2