Exxon Mobil posted strong fourth quarter profits as the oil and gas company increased production in the Permian basin at home, and in Guyana. The Texas company earned $7.61 billion, or $1.72 per share,

Exxon Mobil on Friday beat Wall Street's estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and weaker refining margins. Its adjusted profit was $7.39 billion or $1.

ExxonMobil reported fourth-quarter earnings that beat analyst expectations, driven by record production in the Permian Basin and Guyana, despite lower refining margins.

Exxon Mobil (NYSE:XOM) +0.4% pre-market Friday after reporting Q4 adjusted earnings that were roughly flat compared with the year-earlier quarter but ahead of Wall Street estimates, driven by high-margin projects in the Permian Basin and Guyana.

Exxon Mobil on Friday beat Wall Street's estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and weaker refining margins.