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ExxonMobil Eyes $21.7B in Trinidad Deepwater Exploration Push
ZACKSยท 2025-08-13 13:55
Group 1: ExxonMobil's Expansion in Trinidad and Tobago - ExxonMobil has signed an agreement to explore over 2,700 square miles of deepwater acreage off Trinidad's east coast, with potential investments of up to $21.7 billion if substantial reserves are found [1] - The geological setting of the area is similar to other major deepwater discoveries, and ExxonMobil aims to replicate its success from offshore projects in Guyana [2][10] - The company will operate the deepwater block with a 100% working interest, allowing full control over exploration and development decisions [4] Group 2: Upcoming Operations and Surveys - ExxonMobil plans to initiate a geophysical survey within the next six months to gather subsurface data, followed by drilling operations to test oil and gas prospects [3][10] - The company will leverage existing infrastructure and resources between Guyana and Trinidad and Tobago to expedite the exploration process [3] Group 3: Market Position and Comparisons - ExxonMobil currently holds a Zacks Rank 3 (Hold), while other energy sector stocks like Antero Midstream Corporation, Flotek Industries, and Enbridge Inc. have better rankings [5] - Antero Midstream generates stable cash flow through long-term contracts and has a commitment to debt reduction, with an average earnings surprise of 1.13% [6] - Flotek Industries has consistently beaten earnings estimates, with an average surprise of 65.2%, and is projected to see 94% year-over-year growth in 2025 [8] - Enbridge operates the longest oil and gas pipeline system in North America, earning steady fees through long-term contracts, with an average earnings surprise of 5.61% [9][11]