EXXON MOBIL (XOM) Company Report

Iraq’s Oil Ministry has invited major US oil companies to bid for management of the West Qurna 2 oilfield, previously operated by Lukoil.
West Qurna 2 holds an estimated 14 billion barrels of reserves and produces 480,000 barrels per day, about 9–10% of Iraq’s output and 15% of its exports.
Lukoil, holding a 75% stake, declared force majeure on November 4, 2025 after US/UK sanctions in October 2025; its attempted sale to Gunvor was blocked by the US Treasury.
ExxonMobil returned to Iraq in October 2025, signing an initial agreement to develop the Majnoon oilfield and is speculated to be a leading candidate to replace Lukoil at West Qurna 2.

2 days ago

Barron's

ExxonMobil to acquire 40% stake in Bahia NGL pipeline

XOM

New Projects/Investments

M&A

ExxonMobil will pay $650 million to acquire a 40% stake in Enterprise Products’ 550-mile Bahia NGL pipeline (600,000 bpd capacity), with closing expected by early 2026 pending regulatory approval.
Plans call for expanding the system to 1 million bpd by adding pumping capacity and constructing a 92-mile extension—dubbed the “Cowboy Connector”—to ExxonMobil’s Cowboy gas plant in New Mexico, targeting completion in Q4 2027.
Enterprise Products Partners will operate the combined pipeline after the expansion.
The transaction dovetails with ExxonMobil’s collaboration with BASF on methane pyrolysis for low-emission hydrogen and a demonstration plant at its Baytown Complex.

Nov 20, 2025, 5:40 PM

Morningstar

ExxonMobil to Close Mossmorran Plant

XOM

Layoffs

ExxonMobil will shut its Mossmorran Fife Ethylene Plant in February 2026, putting over 400 jobs (179 direct employees and ~250 contractors) at risk.
The site was deemed uncompetitive amid the UK’s policy environment, high supply costs, market conditions and plant inefficiencies.
About 50 employees have been offered transfers to Exxon’s Fawley petrochemicals site, nearly 400 miles away.
The closure follows the Grangemouth refinery shutdown six months earlier and has drawn “extreme disappointment” from the Scottish government, which will form a taskforce to support affected workers.

Nov 18, 2025, 12:44 PM

Barron's

ExxonMobil updates Esso S.A.F. acquisition timeline

XOM

M&A

Dividends

Turkish antitrust clearance obtained, with French foreign investment and EU Foreign Subsidies approvals still pending.
Closing date set for November 28, 2025 for the acquisition of ExxonMobil’s stake in Esso S.A.F..
Final purchase price of €26.19 per share for the ExxonMobil block and €28.93 per share in the mandatory tender offer.
Shareholders approved an extraordinary distribution of €60.21 per share, and Esso S.A.F. will be renamed North Atlantic Energies upon closing.

Nov 10, 2025, 7:51 PM

Press Release

ExxonMobil reports Q3 2025 earnings of $7.5 B amid lower oil prices

XOM

Earnings

Dividends

New Projects/Investments

ExxonMobil Q3 2025 net income was $7.5 billion, down 12% Y/Y due to lower oil prices (Brent at $68.20/bbl).
Q3 revenue reached $85.3 billion vs. $86.5 billion consensus; adjusted EPS of $1.90 beat the $1.80 estimate.
Achieved record production, exceeding 700,000 bbl/d in the Permian Basin and Guyana, and added >80,000 net acres in the Permian.
Delivered $2.2 billion of cost savings in 2025 (part of $14 billion cumulative since 2019) and brought 8 of 10 key 2025 projects online as scheduled, while maintaining dividends and buybacks.
OPEC+ plans to boost output by ~180,000 bbl/d from Dec 2025 have driven a 5–7% drop in oil futures, spurring investor interest in hedges like cryptocurrencies.

Oct 31, 2025, 6:16 PM

WSJ

ExxonMobil reports Q3 2025 results

XOM

Earnings

New Projects/Investments

M&A

In Q3, Guyana production set a record at over 700,000 barrels per day, with Yellowtail brought online four months early and the Hammerhead development sanctioned; Permian production reached nearly 1.7 million boe/day.
Lightweight proppant deployment penetrates deeper into frac zones, boosting well recoveries by up to 20%, with about 25% of new wells using it this year and 50% by end-2026.
Product Solutions capacity is tripling via Proxima systems, including a 40% faster rebar installation, a one-coat marine tank solution, 80% utilization at the Singapore resid upgrade, acquisition of Superior Graphite assets for advanced battery anodes, and commissioning of the Discovery six supercomputer.
Emphasis on financial discipline with over $14 billion in structural cost savings since 2019, mid-year $2.4 billion in acquisitions, updated CapEx guidance below $27–29 billion (ex-M&A), and launch of an opt-in retail shareholder voting program.

Oct 31, 2025, 1:30 PM

Transcript

ExxonMobil reports Q3 2025 results; posts production records and advances key projects

XOM

Earnings

New Projects/Investments

Dividends

Achieved record Guyana production of over 700,000 b/d; brought Yellowtail FPSO online 4 months early (250,000 b/d capacity); sanctioned Hammerhead for 2029; set a Permian record of 1.7 MM boe/d and acquired 80,000 net acres in Midland Basin.
Deployed lightweight proppant in ~25% of wells this year (targeting 50% by end-2026), boosting recoveries by up to 20%, per Wood Mackenzie validation.
Expanded Product Solutions: tripling Proxima capacity; demonstrated 40% faster rebar installation and one-coat marine coating; developing battery graphite anodes with 30% faster charging, 30% longer range, and 4× lifecycle; acquired Superior Graphite assets to scale energy-efficient graphitization.
Captured $14 billion in structural cost savings since 2019 (~$2.5 billion/year); delivered 8 of 10 key 2025 project startups (including Golden Pass LNG); commissioned Discovery 6 supercomputer to cut seismic processing from months to weeks, unlocking >$1 billion in Guyana value.
Sustained shareholder returns with 43 consecutive years of annual dividend growth.

Oct 31, 2025, 1:30 PM

Transcript

ExxonMobil reports Q3 2025 earnings

XOM

Earnings

Share Buyback

Delivered $7.5 B GAAP earnings and $8.1 B earnings ex. identified items in Q3 2025
Generated $14.8 B cash flow from operations, funding $8.6 B cash capex and $9.4 B shareholder distributions (incl. $5.1 B share buybacks)
Strengthened balance sheet with net debt-to-capital of 9.5%
Upstream performance driven by record Permian and Guyana output, achieving 4.8 Moebd production in Q3 2025

Oct 31, 2025, 1:30 PM

Presentation

ExxonMobil delivers Q3 2025 results

XOM

Earnings

M&A

New Projects/Investments

Record production in Guyana at >700,000 bpd and Permian at 1.7 million boe/d, with Yellowtail FPSO online four months early.
CapEx projected below $27–29 billion (ex-M&A), excluding $2.4 billion of Q3 acquisitions.
80,000 net acres added in Midland Basin and expansion of lightweight proppant into 25% of new wells, boosting unconventional recoveries.
Acquired Superior Graphite assets for graphitized carbon battery anodes (TAM $40 billion) and advancing carbon-abated power solutions for data centers.

Oct 31, 2025, 1:30 PM

Transcript

ExxonMobil reports third-quarter 2025 results

XOM

Earnings

Dividends

Share Buyback

Generated third-quarter earnings of $7.5 billion ($1.76 per share), cash flow from operations of $14.8 billion, and free cash flow of $6.3 billion.
Returned $9.4 billion to shareholders, including $4.2 billion in dividends and $5.1 billion in share repurchases; fourth-quarter dividend raised to $1.03 per share.
Upstream delivered $5.7 billion in earnings and set production records, surpassing 700,000 bpd in Guyana and nearly 1.7 million boepd in the Permian.
Advanced growth strategy with eight of ten key 2025 project start-ups, Permian acreage acquisitions, and investments in carbon materials and supercomputing capacity.
Maintained a strong balance sheet with a debt-to-capital ratio of 13.5%, net-debt-to-capital of 9.5%, and period-end cash of $13.9 billion.

Oct 31, 2025, 10:31 AM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for EXXON MOBIL.