ExxonMobil Partners with Energean and HELLENiQ for Gas Exploration Project in Greece
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 06 2025
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Farm-In Agreement Details: ExxonMobil has entered a Farm-In Agreement to acquire a 60% stake in the Block 2 concession in the Ionian Sea, while Energean's stake decreases to 30% and HELLENiQ ENERGY's to 10%.
Operational Roles: Energean will continue as the Operator during the exploration phase, but ExxonMobil will take over as the operator if hydrocarbons are discovered during the development stage.
Transaction Conditions: The completion of the agreement is contingent upon governmental approvals and customary closing deliverables being met.
Exploratory Drilling Timeline: Drilling is anticipated to begin in late 2026 or early 2027, assuming all necessary permits and approvals are secured in a timely manner.
Analyst Views on XOM
Wall Street analysts forecast XOM stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for XOM is 132.17 USD with a low forecast of 114.00 USD and a high forecast of 158.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
19 Analyst Rating
12 Buy
7 Hold
0 Sell
Moderate Buy
Current: 133.640
Low
114.00
Averages
132.17
High
158.00
Current: 133.640
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.
