ExxonMobil's Australian unit said on Monday that its Gippsland Basin joint venture with Woodside Energy has approved its final investment decision to develop the Turrum Phase 3 project, targeting underdeveloped gas resources.
ExxonMobil (XOM 2.97%) shares have pulled back about 10% or so from their post-pandemic peak. That puts them a little below $115 per share.
XOM's Longtail project is likely to be its biggest natural gas development, targeting 1.5 bcfd of gas and 290,000 bpd of condensate. A final decision is expected by 2026.
ExxonMobil (XOM -0.03%) has a bold view of its future. The energy giant wants to deliver an incremental $20 billion of earnings and $30 billion of cash flow by 2030.
Zacks.com users have recently been watching Exxon (XOM) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
The eighth energy project in Guyana of a consortium led by U.S. major Exxon Mobil will produce up to 1.5 billion cubic feet per day (bcfd) of natural gas and 290,000 barrels per day on condensate through a floating production facility that will have capacity to export the fuel, the group told the government.
XOM's growth prospects are strong, but a few uncertainties surrounding the stock suggest investors may be better off not buying it at premium valuations.
XOM and Guyana are set to discuss a $214M tax dispute after an audit flagged potential cost overstatements at the Stabroek block. The talks could impact XOM's cost recovery terms.
The expected increase in oil supply across the globe in the following years will likely limit ExxonMobil's upside. As the oil demand is about to peak, it makes no sense to expect ExxonMobil to generate aggressive returns anytime soon. ExxonMobil's stock is a SELL for us.
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.