Oil giant, Exxon Mobil (XOM) is on tap to report its third quarter earnings Friday. Wall Street is expecting a decrease in profit from the company, the consensus estimates are $1.73 a share and $105.5 billion in revenue. Exxon has posted a fall in revenue in the last four quarters. Adding to oil companies' concerns, crude oil prices have declined substantially in the last few months, hitting multi-year lows. John Licata is the CEO and chief energy strategist at Blue Phoenix, a consulting firm that specializes in energy. Licata thinks Exxon trails its competitors like Chevron (CVX) and Royal Dutch Shell. Licata says Exxon looking at rumored deals with Anadarko Petroleum (APC) and SandRidge Energy (SD) is not the direction the company should be headed. Licata thinks Exxon should look to grow with more innovative companies like Flotek (FTK) with technologies that can boost efficiency.