Exxon Has A Differentiated Permian Position Post-Pioneer Deal: Goldman Sachs Analyst
Exxon Has A Differentiated Permian Position Post-Pioneer Deal: Goldman Sachs Analyst
ExxonMobil is targeting up to $30 billion in lower-emissions investments and will allocate $27 billion – $29 billion in capex for 2025, with annual investments of $28 billion – $33 billion from 2026 to 2030, while reducing the reinvestment rate to 40%.Goldman Sachs analyst Neil Mehta rated Exxon Mobil Corporation (NYSE:XOM) Neutral and a price target of $125.
高盛分析師尼爾·梅塔對埃克森美孚公司（紐交所：XOM）的評級爲中立，目標價格爲125美元。
Yesterday, the company unveiled its Corporate Plan to 2030, targeting an additional $20 billion in earnings and $30 billion in cash flow over the next six years.
昨天，該公司公佈了其2030年企業計劃，目標是在未來六年內實現額外200億的收益和300億的現金流。
The 2030 goals include increasing Pioneer acquisition synergies by 50% to over $3 billion annually, growing new business earnings to $3 billion.
2030年的目標包括將先鋒收購的協同效應提高50%，使年收入超過30億美元，同時將新業務的收益增長到30億美元。
ExxonMobil is targeting up to $30 billion in lower-emissions investments and will allocate $27 billion – $29 billion in capex for 2025, with annual investments of $28 billion – $33 billion from 2026 to 2030, while reducing the reinvestment rate to 40%.
埃克森美孚的目標是進行高達300億美元的低排放投資，並將爲2025年分配270億到290億美元的資本支出，從2026年到2030年的年投資在280億到330億美元之間，同時將再投資率降低至40%。
The analyst says that Exxon highlighted its differentiated Permian position post-Pioneer acquisition, leveraging non-sand proppants for better well performance.
分析師表示，埃克森強調其在先鋒收購後在二疊紀的差異化位置，利用非沙型支撐劑以提高井的表現。
Mehta notes that over the next 12 months, the company plans to deploy the technology in over 200 wells, though supply chain constraints remain a key focus for managing the deployment cadence.
梅塔指出，在未來12個月內，該公司計劃在超過200口井中部署該技術，儘管供應鏈限制仍然是管理部署節奏的一個關鍵關注點。
However, Exxon was more cautious than expected regarding its 2030 volume outlook for Guyana, with forecasts set at 1.3 million bpd, compared to Goldman Sachs' estimate of 1.5 million bpd, adds the analyst.
然而，分析師補充說，埃克森對其2030年圭亞那的產量展望比預期更加謹慎，預測設定爲130萬桶/日，而高盛的估計爲150萬桶/日。
Mehta says that the company emphasized its ongoing focus on using 4D seismic technology and expanding high-performance computing capacity to enhance resource recovery and maximize value capture.
梅塔表示，該公司強調持續關注使用4D地震技術並擴大高性能計算能力，以提升資源回收和最大化價值獲取。
Additionally, the analyst notes that ExxonMobil is continuing to collaborate closely with the Guyanese government on gas development projects.
此外，分析師指出，埃克森美孚正在與圭亞那政府緊密合作，推進燃料開發項目。
Going forward, the analyst says that it will closely monitor management's updates on the execution of various LNG projects, particularly Golden Pass, due to previous challenges with execution and timing.
展望未來，分析師表示將密切關注管理層關於各項LNG項目執行情況的更新，特別是Golden Pass，原因是過去在執行和時機上遇到挑戰。
The analyst estimates EPS of $7.91 for 2024, $8.35 for 2025 and $9.71 for 2026.
分析師預計2024年的每股收益爲7.91美元，2025年爲8.35美元，2026年爲9.71美元。
Investors can gain exposure to XOM via EA Series Trust Strive U.S. Energy ETF (NYSE:DRLL) and Vanguard Energy Index Fund ETF (NYSE:VDE).
投資者可以通過EA系列Trust美國能源ETF（紐交所：DRLL）和能源指數ETF-Vanguard（紐交所：VDE）獲得對XOm的敞口。
Price Action: XOM shares are down 0.39% at $111.48 at the last check Thursday.
價格動態：XOm股票在上週四最後一次檢查時下跌0.39%，報111.48美元。
- Why Betting on Oil Over Gold Could Pay Off Big in 2025
- 爲什麼押注於石油而非黃金可能在2025年獲得巨大回報
Photo: Del Henderson Jr. via Shutterstock.
照片來源：Del Henderson Jr. via Shutterstock。
譯文內容由第三人軟體翻譯。
