Exxon Mobil Corporation
) signed a five-year technical agreement with the exploration and
production arm of Mexico's state-controlled oil giant Petróleos
Mexicanos or Pemex.
The two companies would collaborate in research, science,
technology and human-resources training for the exploration,
drilling, production, transportation and storage of hydrocarbons.
The agreement does not involve paid services.
Exxon Mobil is the world's largest publicly traded oil company,
engaged in oil and natural gas exploration and production,
petroleum products refining and marketing, chemicals manufacture,
and other energy-related businesses. Approximately 83% of Exxon
Mobil's earnings come from its operations outside the U.S.
Exxon Mobil is one of the world's best-run integrated oil company
given its track record of superior returns on capital employed.
Exxon Mobil has long been a core holding for investors seeking a
defensive name with continued dividend growth. Exxon Mobil is
fairly active in its investment program. The company plans to
spend about $185 billion over the next five years, up 29% from
the last five-year period.
The capital expenditure covers as many as 21 important oil and
gas projects currently under the anvil and are estimated to
accumulate over 1 million net oil-equivalent barrels per day by
2016. It includes the Kearl Oil Sands development project in
Canada, four in West Africa and Kashagan Phase 1 in Kazakhstan.
Exxon is also engaged in a large liquefied natural gas project in
Papua New Guinea, which is expected to begin deliveries in 2014.
It will further unearth more oil from the development of Hebron
oil field offshore the Canadian province of Newfoundland and
Labrador. The development will help in recovering over 700
million barrels of oil and the platform is expected to yield its
first oil towards the end of 2017.
Exxon Mobil holds a Zacks Rank #3 (Hold). However, the Zacks
Ranked #2 stocks of
Stone Energy Corporation
Chesapeake Energy Corporation
EPL Oil & Gas, Inc.
) are expected to outperform the market over the next few months.
CHESAPEAKE ENGY (CHK): Free Stock Analysis
EPL OIL&GAS INC (EPL): Free Stock Analysis
STONE ENERGY CP (SGY): Free Stock Analysis
EXXON MOBIL CRP (XOM): Free Stock Analysis
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