ExxonMobil Seeks Permits to Expand Oil and Gas Operations in Guyana

Group 1: Exxon Mobil's Exploration and Production Plans - Exxon Mobil Corporation, along with partners Hess Corporation and CNOOC, is seeking environmental permits for new exploration projects in Guyana, including the Longtail project, which will be the first to produce gas independently from oil production [1] - The company aims to increase its production capacity in Guyana to 940,000 barrels per day (bpd) this year, with plans to ramp up to over 1.7 million bpd by the end of 2029 [2] - The Longtail project is expected to add up to 250,000 bpd of crude and 1 billion cubic feet of gas per day to the consortium's production capacity [3] Group 2: Appraisal of Gas Reserves - The consortium has completed an appraisal of its gas reserves, which will help evaluate the total resources available for production and inform geological and reservoir models [4] - The findings from this study could support a significant development contract awarded to Fulcrum LNG for constructing Guyana's first LNG project [4] Group 3: Industry Context and Competitors - Exxon Mobil currently holds a Zacks Rank 3 (Hold), while competitors like SM Energy, Sunoco LP, and Archrock have better rankings, indicating potential investment opportunities in the energy sector [5] - SM Energy is focusing on expanding its oil operations, particularly in the Permian Basin and Eagle Ford regions, which is expected to positively impact its financial performance [6] - Sunoco LP is a major distributor of motor fuel in the U.S., providing consistent returns to unitholders through its distribution yield [7] - Archrock specializes in midstream natural gas compression services, generating stable fee-based revenues [8]