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Moves by Jeb Bush add to talk of 2016 candidacy

WASHINGTON — Jeb Bush's decision to release a policy-laden e-book and all his emails from his time as governor of Florida has further stoked expectations among his allies that he will launch a presidential bid.

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Ebby Halliday acquires Fort Worth’s Williams Trew

Williams Trew Real Estate of Fort Worth has been acquired by Dallas-based residential real estate brokerage Ebby Halliday Real Estate Inc.

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Meridian Bank Texas parent acquired by UMB Financial for $182.5M

Kansas City, Mo.-based UMB Financial Corp., the parent company of UMB Bank, said Dec. 15 it has signed a definitive agreement to acquire Marquette Financial Companies in an all-stock transaction.

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Cousins Properties to sell 777 Main tower in downtown Fort Worth

Cousins Properties Inc. has confirmed plans to sell the 777 Main office tower in downtown Fort Worth, according to a news release from the Atlanta-based real estate investment firm.

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Glen Garden sale closes, distillery on tap

Firestone & Robertson Distilling Co. closed late Wednesday on its purchase of the historic Glen Garden Country Club in southeast Fort Worth, with plans to convert it into a whiskey distillery and bucolic visitor attraction.

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Exxon Mobil sees 4Q profit fall

Exxon sign, photo courtesy of CNN

The Associated Press

 

 


Exxon Mobil's fourth-quarter profit fell 16 percent as the company produced slightly less oil and gas and its refining business weakened.

Exxon has been criticized for failing to boost production, but the CEO says that new projects now in the works will produce profits and lift the business.

Exxon Mobil Corp. said Thursday that fourth-quarter net income was $8.35 billion, or $1.91 per share, matching Wall Street's forecast. That compares with profit of $9.95 billion, or $2.20 per share, a year earlier.

Revenue fell 3.3 percent to $110.86 billion, below the $114.51 billion that analysts were expecting, according to a FactSet survey.

Production of oil and gas dropped 1.8 percent.

In a statement, Chairman and CEO Rex Tillerson said disciplined investing and new projects were putting the company in position for sustained big profits.

"Over the next two years, ExxonMobil will start up numerous major projects delivering profitable new supplies of oil and natural gas while strengthening our refining and chemicals businesses," he said.

The Irving, Texas-based company spent $26 billion last year on dividends and buybacks that reduced the number of shares — moves designed to please shareholders.

As oil prices were stabilizing, Exxon's shares gained nearly 15 percent during 2013, about on par with Chevron Corp. but trailing the broader indexes, including the Dow Jones industrial average.

In trading before Thursday's opening bell, Exxon shares were down $1.18 to $93.93.

Exxon is the world's biggest publicly traded oil company. It became the largest producer of U.S. natural gas with the 2010 acquisition of XTO Energy, a deal that has failed to produce immediate results due to stubbornly low gas prices amid a surge in drilling.

In the fourth quarter, Exxon's earnings from oil and gas production in the U.S. fell 26 percent to $1.19 billion; outside the U.S. — easily the company's most profitable business — earnings dipped 9 percent to $5.6 billion.

The sharpest decline came in refining and selling petroleum products, where earnings plunged 48 percent to $916 million on weaker refining margins.

Exxon said it paid $23.11 billion in income, sales and other taxes, a decrease of 4.2 percent from the fourth quarter of 2012.


 

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