Exxon Mobil Corp (XOM)

Oil companies have been hit hardest by the drop in oil price in the first quarter of 2020. Since then, oil has been rapidly recovering. Locally, Exxon Mobil has followed the same trend.

Exxon Mobil Corp ( XOM ) is moving in a large downtrend channel . We are below the middle line of this channel. If we break it, it will reach the upper resistance line.

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Permian Basin - Investor Presentation

Exxon Mobil has roughly 10 billion barrels of resources with significant acreage spread across the region. The company's resource is spread across both the Midland and Delaware basins, although the Midland assets are much more developed. The company has ~2-2.5 billion barrels in the Midland and 7.5-8 billion barrels in Delaware.

Out of these massive resources, the company has developed ~700 million barrels leaving more than 9.3 billion barrels. The company expects its combined resource size will sustain its development pace beyond 2040. In 2019, production was roughly 250 thousand barrels/day, but the company is working to move that towards 1 million barrels/day.

That means at the company's production rates, it'd have more than 25 years of sustained production
Exxon Mobil is focused on maximizing long-term value with a distributed portfolio of compression and pumps, separation and location storage, and well pads assets. The company is focused on multi-well pad corridors and minimizing costs, and the massive asset portfolio with contiguous acreage helps the company.

The company plans to convert this massive operation into a $15/barrel breakeven cost, a level that's only rivaled by Middle East onshore operations. At current prices of ~$50/barrel, that means nearly $13 billion in annual profits for the company. That alone is a company-making asset and it highlights the Exxon's strength.

Deepwater Asset Base
Exxon Mobil's other impressive component of its assets is the company's deepwater asset base..

Exxon Mobil's Guyana and Suriname assets are massive. The company has focused on its massive Stabroek block primarily so far; however, just a few weeks ago, it announced its first discovery in Suriname, opening up a new front here. The company has discovered 8 billion barrels of resources so far here, 16 discoveries from 18 wells, with an average size of 500 million barrels.

With more than 50 undrilled leads and a plan to hit 1 million barrels/day by 2026, this is another company-changing resource. The company has a 45% stake in the Stabroek block alone. At 1 million barrels/day, existing resources alone could last the company more than 20 years. However, its potential discoveries could be much, much larger.

At the same time, Guyana and Suriname aren't Exxon Mobil's only South American deepwater assets
2021 Catalysts
Exxon Mobil has three main catalysts worth paying attention to in 2021 that we expect will drive strong shareholder value.

1. Financial Capacity

Exxon Mobil's first opportunity is its financial capacity. The company's financial capacity is near $30 billion. The company has a long history of making valuable acquisitions. This includes the company's $6.6 billion Bass family acquisitions in the Permian Basin in 2017, which as we've seen above, is a valuable, high-potential investment.

Obviously nothing has been announced yet. However, the key takeaway worth highlighting is that Exxon Mobil's h
+3 Reply
EXCAVO Clarkbar2
@Clarkbar2, bravo!
@EXCAVO, I only wish my wife was as easy to please~! (I wasn't so popular when I put half her money in XOM that second week of March, 2020~!!)
@Clarkbar2, Fantastic write-up.
Clean and clear as usual. Thank you gentleman 🙌
+2 Reply
Clarkbar2 TheSignalyst
@TheSignalyst, Kind words, Signalyst.. (THANK YOU MUCH!)
Thanks for sharing!
thank you for sharing
the pull back will be a nice entry point. thanks for sharing😊😊
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