Core Insights - Exxon Mobil Corporation (XOM) is focused on enhancing business efficiency and resilience, having reduced structural costs by $12.7 billion since 2019, resulting in annual savings of approximately $2.5 billion [1][8]. Cost Management and Profitability - XOM aims to reduce its breakeven costs to $35 per barrel by 2027 and $30 per barrel by 2030, ensuring profitability in its upstream operations even during potential oil price declines [2][3]. - The company is committed to maintaining its investment program while lowering breakeven costs, which will support long-term shareholder value [3]. Industry Comparisons - Other upstream firms like Chevron (CVX) and EOG Resources (EOG) also benefit from low breakeven costs, particularly in the Permian basin, where breakeven prices are below $40 per barrel [4]. - Chevron plans to increase its development activities in the Delaware basin to 85% in 2024, focusing on low breakeven-cost operations [5]. - EOG has indicated it can manage its planned spending even if oil prices remain in the low $50 range, highlighting its financial resilience [6]. Valuation Metrics - XOM shares have seen a 1% decline over the past year, compared to a 2.8% decline in the industry composite [7]. - The company trades at a trailing 12-month EV/EBITDA of 6.77X, which is above the industry average of 4.14X [8][10].