ExxonMobil(US:XOM) zacks.comยท2024-05-20 17:11Group 1: Exxon Mobil's Carbon Capture Initiative - Exxon Mobil Corporation, in partnership with Pertamina, has initiated an appraisal drilling project for a carbon capture and storage (CCS) hub in Indonesia, specifically the Asri Basin Project, which could store up to three gigatons of carbon dioxide and may require an investment of $2 billion [1][2] - The project aligns with Indonesia's climate change strategy, allowing CCS operators to reserve 30% of their storage capacity for imported carbon, enhancing the country's commitment to global carbon reduction efforts [2] - A framework agreement has been established with Korea National Oil Corporation (KNOC) to participate in the project, contributing to emissions injection into the facility [2] Group 2: Exxon Mobil's Global Oil Exploration - Exxon Mobil has announced an oil discovery off the coast of Angola in Block 15 at the Likembe-01 well, which was drilled to a depth of 3,013 meters, indicating the company's ongoing commitment to enhancing energy production [3] - The discovery is part of the Kizomba B development area, operated by ExxonMobil alongside partners Azule Energy, Equinor, and Sonangol, showcasing the company's dual focus on energy production and environmental sustainability [3] Group 3: Investment Opportunities in the Energy Sector - ExxonMobil currently holds a Zacks Rank 3 (Hold), while other energy stocks like SM Energy Company, Ecopetrol S.A., and Marathon Petroleum Corporation have better rankings, with Zacks Rank 1 (Strong Buy) [4] - SM Energy's 2024 and 2025 EPS estimates are $6.60 and $7.46, respectively, with upward earnings estimate revisions in the past week [4] - Ecopetrol's 2024 and 2025 EPS estimates are $2.55 and $2.63, respectively, also showing upward revisions recently [5] - Marathon Petroleum has increased its quarterly dividend by 10% and has a total shareholder return of approximately 31% in 2023, with EPS estimates for 2024 and 2025 at $19.53 and $16.78, respectively [5]