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ExxonMobil's stock stayed mostly the same as it revealed plans for a $12.5 billion project in Guyana.

MarketRead the original at Benzinga
Good for XOM

ExxonMobil approved a $12.5 billion Longtail project with production planned for 2030. Its added gas and condensate capacity supports growth, though the large spend comes years before output.

XOM · ExxonMobil Holdings Corporation

AI read · Good for XOM

The AI's read

This gives ExxonMobil another route to expand production in Guyana. The project adds gas and liquid-fuel capacity, and ExxonMobil already produces about 900,000 barrels of oil daily there. Its latest quarter also beat analyst estimates for adjusted profit per share and sales. The main drawback is the large cash commitment comes years before output begins. Still, the added production capacity and recent results make the project favorable for ExxonMobil.

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