Exxon Mobil Stock Price, News & Analysis

The Board of Directors of Exxon Mobil Corporation has declared a cash dividend of $0.88 per share, payable on June 10, 2022, for shareholders of record as of May 13, 2022. This dividend matches the amount paid in the first quarter of 2022. Exxon Mobil has a long history of returning value to its shareholders, having increased its annual dividend for 39 consecutive years, showcasing the company's commitment to shareholder returns.

ExxonMobil announced three new offshore discoveries in Guyana, increasing recoverable resources in the Stabroek Block to nearly 11 billion oil-equivalent barrels. The Barreleye-1, Patwa-1, and Lukanani-1 wells added to a total of five discoveries in 2022. The company highlights ongoing operations at Barreleye-1 and Lukanani-1, with production projects in Guyana ramping up to significant outputs. The Liza Phase 2 project is currently producing 220,000 barrels per day, while the upcoming Payara project is set to start before year-end 2023, underscoring ExxonMobil's commitment to its exploration strategy.

ExxonMobil has received an “A” grade certification for methane emissions management from MiQ, validating their efforts in natural gas production at Poker Lake, New Mexico. This certification encompasses approximately 200 million cubic feet per day of natural gas and is part of their plan to achieve net-zero Scope 1 & 2 greenhouse gas emissions in the Permian Basin by 2030. ExxonMobil is also expanding its certification to other U.S. shale operations to meet rising demand for low-emission energy.

Exxon Mobil Corporation (NYSE:XOM) is set to announce its first quarter 2022 financial results on April 29, 2022, at 5:30 a.m. CT. A live conference call will follow at 8:30 a.m. CT, featuring CEO Darren Woods and CFO Kathy Mikells. Interested parties can access the call via webcast or by calling designated numbers. The results will be shared through a press release available on Exxon's website.

Imperial Oil Limited (TSE: IMO, NYSE American: IMO) will host a 2022 First Quarter Earnings Call on April 29 at 9 a.m. MT. CEO Brad Corson and VP of Investor Relations Dave Hughes will discuss the company's earnings released that morning. The event will be accessible via webcast and will remain available for a year following the call.

ExxonMobil is advancing the SEA CCS hub project in South East Australia, aiming to capture up to 2 million metric tons of CO₂ annually. The initiative, based on existing infrastructure, targets emissions reduction for local industries and could become operational by 2025. ExxonMobil's Low Carbon Solutions division is leading this effort to enhance long-term shareholder value and support emission reduction goals. The company has extensive experience in carbon capture, holding a significant share of global capacity.

ExxonMobil has launched its Exceed™ S performance polyethylene (PE) resins, offering superior stiffness and toughness with easy processing capabilities. This innovative PE platform aims to simplify film formulations while enhancing performance, efficiency, and packaging durability compared to current market options. With three initial grades designed for high output on blown film lines, these resins cater to various applications, including heavy-duty sacks and pouches that contain liquids or food. Collaboration with over 75 global customers on 100+ applications underscores the platform's market impact.

ExxonMobil has received government approvals for the Yellowtail project in Guyana, its largest offshore project to date. Expected to produce 250,000 barrels of oil per day starting in 2025, the $10 billion development will include six drill centers and numerous production and injection wells. The project aims to enhance local employment and economic growth, with over 3,500 Guyanese currently involved. The company has identified over 10 billion oil-equivalent barrels in the Stabroek Block and plans up to 10 projects to exploit this resource.

Eikon Therapeutics has appointed Kenneth C. Frazier as its first independent director, effective April 1, 2022. Frazier, the former CEO of Merck (NYSE:MRK) and current director at Exxon Mobil Corporation (NYSE:XOM), brings extensive pharmaceutical industry expertise. His leadership at Merck was marked by the advancement of numerous significant medicines. Eikon's CEO, Roger M. Perlmutter, expressed that Frazier's knowledge and advocacy for social justice will greatly benefit the company's mission in drug discovery and development.