Exxon makes two more oil discoveries offshore Guyana

  • Exxon Mobil (NYSE:XOM) says it made two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana, adding to the block's previous recoverable resource estimate of 10B boe.
  • The Fangtooth-1 well encountered 164 ft. of high-quality oil-bearing sandstone reservoirs and is located 11 miles northwest of the Liza field, while Lau Lau-1 encountered 315 ft. of high-quality hydrocarbon-bearing sandstone reservoirs and is located 42 miles southeast of Liza.
  • The company also says the Liza Unity FPSO vessel is on track to start production in Q1, with a target of 220K bbl/day of oil at peak production.
  • Exxon is operator of the Stabroek block and owns a 45% interest, while Hess (NYSE:HES) holds 30% and Cnooc (OTCPK:CEOHF) has a 25% stake.
  • Exxon has committed to lowering costs by $6B by 2023.

    For this year Exxon Mobil 's revenue will be around 294.81 billion USD. This is according to the average of the analysts' estimates. This is quite more than 2021's revenue of 178.57 billion USD.

    Historical revenues and results Exxon Mobil plus estimates 2021

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    The analysts expect for 2021 a net profit of 22.06 billion USD. Most of the analysts anticipate on a profit per share of 5.17 USD. The price/earnings-ratio therefore equals 13.9.

    Huge dividend Exxon Mobil

    Analysts expect a dividend of 3.5 USD per share. Thus the dividend yield equals 4.87 percent. The average dividend yield of the oil & gas producers equals an attractive2.91 percent.

    Most recent target prices around 70 USD

    JP Morgan, RBC Capital Markets and Raymond James recently provided recommendations for the stock.

    Exxon Mobil 's market value equals around 304.3 billion . 59

    On Friday the stock closed at 71.87 USD.

    Historical stock prices Exxon Mobil past 10 years

    stock price exxonmobil

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