Exxon Mobil Withdraws LNG Sale Offer from Golden Pass Plant
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Should l Buy XOM?
Source: seekingalpha
- Withdrawal of Sale Offer: Exxon Mobil has withdrawn its offer to sell two initial cargoes of LNG from its Golden Pass export plant in Texas, a move that could negatively impact short-term revenue expectations, although no reason was provided for this decision.
- Low Capacity Utilization: Since starting production last month, Golden Pass has been operating at only one-third of its nameplate capacity, liquefying approximately 287M cf of natural gas on Thursday, indicating significant challenges and uncertainties in the project's startup phase.
- Delays and Cost Overruns: The Golden Pass project has faced multiple delays and cost overruns since construction began in 2019, including the bankruptcy of its original lead contractor, which may undermine investor confidence and affect the project's long-term viability.
- Equity Structure Analysis: With a total investment of $10 billion, QatarEnergy holds a 70% stake in the project while Exxon Mobil owns the remaining 30%, which limits Exxon's risk exposure and potential returns from this venture.
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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: 149.010
Low
114.00
Averages
132.17
High
158.00
Current: 149.010
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.
Exxon Mobil to Release Q1 2026 Financial Results
- Earnings Release Schedule: Exxon Mobil is set to announce its Q1 2026 financial results on May 1, 2026, with a press release available at 5:30 a.m. CT via Business Wire, providing investors with the latest financial insights.
- Executive Conference Call: CEO Darren Woods and other executives will review the financial results during a conference call at 8:30 a.m. CT, which is expected to attract significant attention from investors and analysts, thereby enhancing market transparency.
- Call Access Information: Investors can join the call by dialing 800-918-2066 (toll-free) or 646-307-1342 (local), referencing passcode 2207273 to ensure smooth communication and interaction during the session.
- Replay and Supplementary Data: After the call, a replay and supplementary financial data will be made available on Exxon Mobil's investor website, facilitating access to crucial information for investors who could not participate live, thus improving information accessibility.
See More
Exxon Mobil Withdraws LNG Sale Offer from Golden Pass Plant
- Withdrawal of Sale Offer: Exxon Mobil has withdrawn its offer to sell two initial cargoes of LNG from its Golden Pass export plant in Texas, a move that could negatively impact short-term revenue expectations, although no reason was provided for this decision.
- Low Capacity Utilization: Since starting production last month, Golden Pass has been operating at only one-third of its nameplate capacity, liquefying approximately 287M cf of natural gas on Thursday, indicating significant challenges and uncertainties in the project's startup phase.
- Delays and Cost Overruns: The Golden Pass project has faced multiple delays and cost overruns since construction began in 2019, including the bankruptcy of its original lead contractor, which may undermine investor confidence and affect the project's long-term viability.
- Equity Structure Analysis: With a total investment of $10 billion, QatarEnergy holds a 70% stake in the project while Exxon Mobil owns the remaining 30%, which limits Exxon's risk exposure and potential returns from this venture.
See More
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- ExxonMobil Cash Flow Growth: ExxonMobil's net cash provided by operating activities skyrocketed from $30 billion in 2019 to $52 billion in 2025, while free cash flow increased from $6.6 billion to $26.1 billion, showcasing its success in cost management and strategic investments.
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- Debt Level Changes: Following the acquisition, Chevron's debt-to-equity ratio increased from 0.12x two years ago to 0.25x, indicating a significant rise in leverage, which, while still maintaining financial strength, could affect future financing capabilities.
- Opportunity from Rising Oil Prices: The geopolitical conflict in the Middle East has led to soaring oil prices in 2026, which will benefit Chevron through increased revenues and earnings, providing additional cash flow to focus on reducing leverage.
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- Acquisition Agreement: Chevron announced its $53 billion acquisition of Hess on October 23, 2023, and despite facing legal challenges from ExxonMobil, successfully closed the deal on July 18, 2025, demonstrating resilience and determination in its M&A strategy.
- Legal Dispute Impact: ExxonMobil raised objections due to its business relationship with Hess, causing over a year of delays; while initially viewed negatively, this provided Chevron an opportunity to consolidate resources before oil prices surged.
- Financial Condition Changes: Following the acquisition, Chevron's debt levels increased, with a debt-to-equity ratio rising from 0.12x to 0.25x, yet the company remains financially robust, showcasing its ability to withstand risks in a high oil price environment.
- Opportunity from Rising Oil Prices: The geopolitical conflict in the Middle East in 2026 has led to soaring oil prices, which Chevron expects to benefit from, as the additional cash flow will aid in reducing leverage and strengthening financial health, making its 3.8% dividend yield attractive to investors.
See More
Exxon Mobil to Release Q1 2026 Financial Results
- Earnings Release Schedule: Exxon Mobil is set to announce its Q1 2026 financial results on May 1, 2026, with a press release available at 5:30 a.m. CT via Business Wire, providing investors with the latest financial insights.
- Executive Conference Call: CEO Darren Woods and other executives will review the financial results during a conference call at 8:30 a.m. CT, which is expected to attract significant attention from investors and analysts, thereby enhancing market transparency.
- Call Access Information: Investors can join the call by dialing 800-918-2066 (toll-free) or 646-307-1342 (local), referencing passcode 2207273 to ensure smooth communication and interaction during the session.
- Replay and Supplementary Data: After the call, a replay and supplementary financial data will be made available on Exxon Mobil's investor website, facilitating access to crucial information for investors who could not participate live, thus improving information accessibility.
See More
Exxon Mobil Withdraws LNG Sale Offer from Golden Pass Plant
- Withdrawal of Sale Offer: Exxon Mobil has withdrawn its offer to sell two initial cargoes of LNG from its Golden Pass export plant in Texas, a move that could negatively impact short-term revenue expectations, although no reason was provided for this decision.
- Low Capacity Utilization: Since starting production last month, Golden Pass has been operating at only one-third of its nameplate capacity, liquefying approximately 287M cf of natural gas on Thursday, indicating significant challenges and uncertainties in the project's startup phase.
- Delays and Cost Overruns: The Golden Pass project has faced multiple delays and cost overruns since construction began in 2019, including the bankruptcy of its original lead contractor, which may undermine investor confidence and affect the project's long-term viability.
- Equity Structure Analysis: With a total investment of $10 billion, QatarEnergy holds a 70% stake in the project while Exxon Mobil owns the remaining 30%, which limits Exxon's risk exposure and potential returns from this venture.
See More
Energy Stocks Thrive Amid Iran Conflict
- Oil Price Volatility: The Iran conflict has led to the closure of the Strait of Hormuz, impacting global oil prices; however, many energy companies have learned to operate profitably in low-price environments, enhancing their shareholder return capabilities.
- Chevron's Performance: Chevron (CVX) has seen its stock rise nearly 24% this year, with expected daily oil equivalent production of 3.98 to 4.1 million barrels in 2026, and a 35% increase in free cash flow, showcasing strong profitability and solid financial health.
- ExxonMobil's Success: ExxonMobil (XOM) stock is up 26% this year and nearly 167% over the past five years, with free cash flow skyrocketing from nearly $30 billion in 2019 to nearly $52 billion in 2025, indicating success in cost control and strategic investments.
- Future of Renewables: NextEra Energy Resources (NEE), one of North America's largest power companies, is actively investing in renewable energy infrastructure to meet rising power demands, particularly from AI applications, although its significant debt is manageable due to strong EBITDA coverage of interest payments.
See More
Energy Stocks Surge Amid Iran War Impact
- Stock Price Surge: Energy stocks have risen this year due to the Iran war, with Chevron's stock up nearly 24% and ExxonMobil up 26%, reflecting market concerns over energy security.
- Chevron's Strong Performance: Following its acquisition of Hess in 2025, Chevron expects its upstream portfolio to produce between 3.98 million and 4.1 million barrels of oil equivalent per day in 2026, achieving a 35% increase in free cash flow despite a 15% drop in oil prices.
- ExxonMobil Cash Flow Growth: ExxonMobil's net cash provided by operating activities skyrocketed from $30 billion in 2019 to $52 billion in 2025, while free cash flow increased from $6.6 billion to $26.1 billion, showcasing its success in cost management and strategic investments.
- NextEra Energy Strategy: NextEra Energy Resources focuses on renewable energy and natural gas infrastructure, and despite significant debt, its EBITDA allows it to cover interest payments comfortably, with a trailing dividend yield of 2.75%.
See More
Chevron's Delayed Hess Acquisition Presents Strategic Opportunities
- Impact of Acquisition Delay: Chevron announced its $53 billion acquisition of Hess on October 23, 2023, but legal disputes with ExxonMobil delayed the deal until July 18, 2025; while initially seen as a setback, this delay allowed Chevron to capitalize on a more favorable market environment.
- Debt Level Changes: Following the acquisition, Chevron's debt-to-equity ratio increased from 0.12x two years ago to 0.25x, indicating a significant rise in leverage, which, while still maintaining financial strength, could affect future financing capabilities.
- Opportunity from Rising Oil Prices: The geopolitical conflict in the Middle East has led to soaring oil prices in 2026, which will benefit Chevron through increased revenues and earnings, providing additional cash flow to focus on reducing leverage.
- Dividend Attractiveness: With a dividend growth streak exceeding 25 years, Chevron's current 3.8% yield becomes particularly appealing in a high oil price environment, potentially attracting more investors seeking stable income.
See More
Chevron's Complex Acquisition of Hess
- Acquisition Agreement: Chevron announced its $53 billion acquisition of Hess on October 23, 2023, and despite facing legal challenges from ExxonMobil, successfully closed the deal on July 18, 2025, demonstrating resilience and determination in its M&A strategy.
- Legal Dispute Impact: ExxonMobil raised objections due to its business relationship with Hess, causing over a year of delays; while initially viewed negatively, this provided Chevron an opportunity to consolidate resources before oil prices surged.
- Financial Condition Changes: Following the acquisition, Chevron's debt levels increased, with a debt-to-equity ratio rising from 0.12x to 0.25x, yet the company remains financially robust, showcasing its ability to withstand risks in a high oil price environment.
- Opportunity from Rising Oil Prices: The geopolitical conflict in the Middle East in 2026 has led to soaring oil prices, which Chevron expects to benefit from, as the additional cash flow will aid in reducing leverage and strengthening financial health, making its 3.8% dividend yield attractive to investors.
See More
