ExxonMobil's growth prospects are shaped by its Guyana oil production ramp-up, Permian Basin acquisition, and the ongoing dispute with Chevron over the Hess merger.
There are two main drivers for ExxonMobil, XOM , in the face of crude’s relatively tight pricing band-low $70’s to low $80’s, for the most the past year. The first is the Guyana , Stabroek production ramp, and the related kerfuffle with Chevron, CVX over the nature of their proposed acquisition of Hess , NYSE HES. The second is the ongoing digestion of Pioneer assets and acceleration of Permian output toward 1.2 mm BOEPD.
In late December of 2023, the FTC filed a request for more information on the deal but delayed any action pending the outcome of ExxonMobil’s objection to the merger. With the three-judge panel only recently confirmed recent reporting has a timeline well into 2025 for any resolution. The core of the dispute lies in the interpretation of the Joint Operating Agreement-JOA, which contains a section on the Right of First Refusal-ROFR that governs the disposition of assets run by the consortium.
XOM Guyana Stabroek CVX Hess HES Oil And Gas Energy Investing
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