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ExxonMobil Eyes $21.7B in Trinidad Deepwater Exploration Push
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Key Takeaways
ExxonMobil signed a deal to explore 2,700 sq miles of deepwater acreage off Trinidad's east coast.
XOM sees potential to repeat its offshore Guyana success in Trinidad's geological setting.
Surveys start within six months, with drilling to follow, leveraging Guyana-Trinidad infrastructure.
Exxon Mobil Corporation (XOM - Free Report) has inked an agreement to explore a vast deepwater acreage offshore Trinidad and Tobago, marking a significant expansion of its Caribbean presence, per a Reuters report. The area, located off Trinidad’s east coast, spans more than 2,700 square miles and lies more than 6,500 feet below the surface. According to the country’s energy minister, if substantial reserves are found, ExxonMobil could invest up to $21.7 billion in the project.
XOM Expects Success in the Project
Speaking in Trinidad, ExxonMobil’s vice president of Global Exploration, John Ardill, emphasized that while there are no guarantees of success, the geological setting mirrors other major deepwater discoveries worldwide. ExxonMobil sees strong potential to mirror its offshore achievements in Guyana, using those transformative projects as a blueprint for developing Trinidad’s deepwater resources.
XOM to Begin Surveys Within Six Months
ExxonMobil plans to kick off a geophysical survey in the next six months to gather subsurface data, which will help pinpoint oil and gas prospects. Drilling operations for testing will follow, with the company leveraging its existing infrastructure and resources between Guyana and Trinidad and Tobago to accelerate the process.
XOM Holds Full Control of the Block
ExxonMobil will operate the deepwater block with a 100% working interest, gaining full control over exploration and development decisions as it seeks to unlock Trinidad’s offshore potential.
Antero Midstream generates stable cash flow by providing midstream services under long-term contracts with Antero Resources. The company prioritizes debt reduction by effectively utilizing free cash flow after dividends. Antero Midstream’s higher dividend yield compared to its sub-industry peers reflects its commitment to generating shareholder returns.
AM’s earnings beat estimates in two of the trailing four quarters and met once, delivering an average surprise of 1.13%.
Flotek Industries develops and delivers prescriptive chemistry-based technology, including specialty chemicals, to clients in the energy, consumer industrials and food & beverage industries. In the oil and gas sector, Flotek serves major and independent energy producers and oilfield service companies, both domestic and international.
Flotek’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 65.2%. The Zacks Consensus Estimate for FTK’s 2025 earnings indicates 94% year-over-year growth.
Enbridge is a major energy company that owns the longest and most complex oil and gas pipeline system in North America, transporting about 20% of the natural gas used in the United States. The business earns steady fees through long-term contracts that act as a protection against big oil price swings or changes in shipment.
ENB’s earnings beat estimates in three of the trailing four quarters and met once, delivering an average surprise of 5.61%.
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ExxonMobil Eyes $21.7B in Trinidad Deepwater Exploration Push
Key Takeaways
Exxon Mobil Corporation (XOM - Free Report) has inked an agreement to explore a vast deepwater acreage offshore Trinidad and Tobago, marking a significant expansion of its Caribbean presence, per a Reuters report. The area, located off Trinidad’s east coast, spans more than 2,700 square miles and lies more than 6,500 feet below the surface. According to the country’s energy minister, if substantial reserves are found, ExxonMobil could invest up to $21.7 billion in the project.
XOM Expects Success in the Project
Speaking in Trinidad, ExxonMobil’s vice president of Global Exploration, John Ardill, emphasized that while there are no guarantees of success, the geological setting mirrors other major deepwater discoveries worldwide. ExxonMobil sees strong potential to mirror its offshore achievements in Guyana, using those transformative projects as a blueprint for developing Trinidad’s deepwater resources.
XOM to Begin Surveys Within Six Months
ExxonMobil plans to kick off a geophysical survey in the next six months to gather subsurface data, which will help pinpoint oil and gas prospects. Drilling operations for testing will follow, with the company leveraging its existing infrastructure and resources between Guyana and Trinidad and Tobago to accelerate the process.
XOM Holds Full Control of the Block
ExxonMobil will operate the deepwater block with a 100% working interest, gaining full control over exploration and development decisions as it seeks to unlock Trinidad’s offshore potential.
XOM’s Zacks Rank and Key Picks
XOM currently carries a Zacks Rank #3 (Hold).
Investors interested in the energy sector may look at a couple of better-ranked stocks like Antero Midstream Corporation (AM - Free Report) , Flotek Industries, Inc. (FTK - Free Report) and Enbridge Inc. (ENB - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Antero Midstream generates stable cash flow by providing midstream services under long-term contracts with Antero Resources. The company prioritizes debt reduction by effectively utilizing free cash flow after dividends. Antero Midstream’s higher dividend yield compared to its sub-industry peers reflects its commitment to generating shareholder returns.
AM’s earnings beat estimates in two of the trailing four quarters and met once, delivering an average surprise of 1.13%.
Flotek Industries develops and delivers prescriptive chemistry-based technology, including specialty chemicals, to clients in the energy, consumer industrials and food & beverage industries. In the oil and gas sector, Flotek serves major and independent energy producers and oilfield service companies, both domestic and international.
Flotek’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 65.2%. The Zacks Consensus Estimate for FTK’s 2025 earnings indicates 94% year-over-year growth.
Enbridge is a major energy company that owns the longest and most complex oil and gas pipeline system in North America, transporting about 20% of the natural gas used in the United States. The business earns steady fees through long-term contracts that act as a protection against big oil price swings or changes in shipment.
ENB’s earnings beat estimates in three of the trailing four quarters and met once, delivering an average surprise of 5.61%.