Source; Wikipedi

ExxonMobil Corp. (NYSE:XOM) is eyeing a capital expenditures budget of $37 billion this year, down from $42.5 billion in 2013. While still a tremendous amount of capital to allocate, Exxon appears to be scaling back its offshore exploration. With oil production again picking up in North America, both in the Canadian oil sands and United States oil shale plays, Exxon continues to exercising strict financial discipline and targeting higher return on investment wells. 

OPEC's last stand 
Imagine a company that rents a very specific and valuable piece of machinery for $41,000 per hour. (That's almost as much as the average American makes in a year!) And Warren Buffett is so confident in this company's can't-live-without-it business model, he just loaded up on 8.8 million shares. An exclusive, brand-new Motley Fool report reveals the company we're calling OPEC's Worst Nightmare. Just click here to uncover the name of this industry-leading stock, and join Buffett in his quest for a veritable landslide of profits!

This segment is from Thursday's edition of Digging for Value, in which sector analysts Joel South and Taylor Muckerman discuss energy and materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays and Thursdays. It can also be found on Twitter, along with our extended coverage of the energy and materials sectors: @TMFEnergy.

Alison Southwick, Joel South, Taylor Muckerman, and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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