Exxon Highlights Permian Position During Analyst Day, but Doesn't Offer Enough to Change Our View
ExxonMobil held its annual analyst day yesterday, and as is usually the case, it provided nothing that would change our long-term view of the firm. Among integrateds, we believe it remains the most financially secure, the highest-quality with respect to a fully integrated portfolio, and the best-managed, thanks to an unceasing focus on cost control. With major guidance items such as capital spending and production little changed, our fair value estimate and moat rating remain intact.Capital sp...
Exxon Mobil operates or markets products in United States and other countries through its divisions and affiliated companies. The company's business involves exploration for, and production of, crude oil and natural gas and manufacture, trade, transport and sale of crude oil, natural gas, petroleum products, petrochemicals and other products. In United States, the company's development activities are focused on the onshore United States, in the Permian Basin of West Texas and New Mexico and the Bakken oil play in North Dakota. Gas development activities are also focused on the Marcellus Shale of Pennsylvania and West Virginia, the Utica Shale of Ohio and the Haynesville Shale of East Texas and Louisiana.
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