PSX, XOM, CVX: Exploration & Production Is Important For Energy Market

Acreage, reserves, and expertise are drivers for major companies buying shale focused operations, notes John Lane. He and Nitin Kumar discusses the energy market. They talk about what big oil company earnings mean for the energy market. John highlights that capital investment in exploration and production is very important right now. Nitin mentions that Mizuho has a neutral rating on Phillips 66 (PSX), a buy rating on Exxon Mobil (XOM), and a buy rating on Chevron (CVX). They then go over the importance of shale drilling for oil companies. Tune in to find out more about the stock market today.