ExxonMobil on Friday reported US$14.5 billion in second-quarter earnings, with the company crediting production growth from Guyana and the Permian Basin for helping deliver its strongest upstream performance in more than two decades.
The oil major posted adjusted earnings of US$14.7 billion for the quarter, while its upstream business generated US$7.9 billion in earnings
Although ExxonMobil's earnings were supported by operations around the world, the company specifically identified Guyana as one of the principal drivers of production growth, alongside the Permian Basin in the United States.
"The highest upstream production in more than two decades, excluding Middle East impacts, was driven by advantaged growth in Guyana and the Permian," the company said in its second-quarter earnings presentation.
The company also said the first four floating production, storage and offloading (FPSO) vessels offshore Guyana continue to outperform expectations, achieving 98 per cent operational reliability year-to-date.
Looking ahead, Exxon confirmed that its fifth Guyana production vessel remains on schedule to begin operations in the fourth quarter of this year, while planning continues for additional developments, including a ninth FPSO targeted for 2031.
More details to follow.
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