ExxonMobil & HELLEniQ ENERGY JV Completes First Exploration Phase In Crete, Eyes Next Steps
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 10 2024
0mins
Source: Benzinga
Exploration Activities in Greece: Exxon Mobil and HELLEniQ ENERGY have completed the first phase of exploration in the offshore block "Southwest of Crete" and are moving forward with a second phase that will focus on 3D seismic data collection over three years, indicating potential significant natural gas deposits in the region.
Carbon Dioxide Storage Lease: Exxon has secured the largest offshore CO2 storage lease in the U.S., covering over 271,000 acres, while also anticipating a reduction in third-quarter upstream earnings due to fluctuating oil prices.
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Analyst Views on XOM
Wall Street analysts forecast XOM stock price to fall
19 Analyst Rating
12 Buy
7 Hold
0 Sell
Moderate Buy
Current: 147.010
Low
114.00
Averages
132.17
High
158.00
Current: 147.010
Low
114.00
Averages
132.17
High
158.00
About XOM
Exxon Mobil Corporation is an energy provider and chemical manufacturer. The Company’s principal business involves exploration for, and production of, crude oil and natural gas; the manufacture, trade, transport and sale of crude oil, natural gas, petroleum products, petrochemicals and a wide variety of specialty products; and pursuit of lower-emission and other new business opportunities, including carbon capture and storage, hydrogen, lower-emission fuels, Proxxima systems, carbon materials, and lithium. Its Upstream segment explores for and produces crude oil and natural gas. The Energy Products, Chemical Products, and Specialty Products segments manufacture and sell petroleum products and petrochemicals. Energy Products segment includes fuels, aromatics, and catalysts and licensing. Chemical Products segment consists of olefins, polyolefins, and intermediates. Specialty Products segment includes finished lubricants, basestocks and waxes, synthetics, and elastomers and resins.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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