Recently, Zacks.com users have been paying close attention to Exxon (XOM). This makes it worthwhile to examine what the stock has in store.
ExxonMobil has purchased several shipments of naphtha for its newly launched petrochemical complex in southern China as the U.S. energy major prepares for the formal start-up of the $10 billion plant, industry and trade sources said.
ExxonMobil's contract to Shearwater Geoservices involves executing a deepwater 4D OBN seismic survey in Guyana, expected to start in the first half of 2025.
Guyana's government expects a consortium led by U.S. oil major Exxon Mobil to brief officials by the end of March on plans to develop offshore gas, the country's vice president told Reuters.
Exxon Mobil: Don't Forget Natural Gas
U.S oil major Exxon Mobil's Australian unit announced on Monday a nearly $200 million investment in the Kipper 1B project in Gippsland Basin, alongside its partners - Mitsui and Woodside Energy.
U.S. oil major Exxon Mobil is planning to increase natural gas output and supply in Guyana through a large-scale project announced on Wednesday, following the government's call for more gas to fuel onshore power and petrochemical projects.
A large-scale gas project by Exxon Mobil in Guyana set to provide natural gas to shore and export liquefied natural gas (LNG) will also include fertilizer plants, the head of the U.S. oil major in Guyana, Alistair Routledge, said on Wednesday.
There has been a flurry of acquisitions in the oil patch over the past couple of years . The biggest was ExxonMobil 's (NYSE: XOM) more than $60 billion megadeal for Pioneer Natural Resources to solidify its position in the oil-rich Permian Basin.
Recently, Zacks.com users have been paying close attention to Exxon (XOM). This makes it worthwhile to examine what the stock has in store.
Exxon Mobil reported strong Q4'24 earnings and free cash flow, driven by production growth from the Pioneer Natural Resources acquisition, despite lower petroleum prices. I maintain a strong buy rating for Exxon Mobil due to its robust free cash flow, reasonable valuation, and growth potential in the Permian Basin. Exxon Mobil generated $8.0B in free cash flow in Q4'24, showing flat FCF growth due to higher production volumes offsetting pricing weakness.
XOM is gearing up for its eighth project in Guyana, known as the Longtail project, which will be the first one to produce gas that is not tied to oil production.