Companies in the Gulf of Mexico benefit from established infrastructure
Majors eyeing lucrative plays outside the Gulf of Mexico
ExxonMobil isn’t alone among majors in turning its gaze from the US Gulf of Mexico to significant deep-water and onshore shale opportunities elsewhere
ExxonMobil is testing market interest, assessing operators' appetite for acquiring some of its upstream US Gulf of Mexico properties. The major's move highlights the ongoing trend for many oil majors operating in the US to high-grade their upstream portfolios. This means searching the globe for tempting deep-water plays or attractive shale openings. Analysts say reservoir quality and favourable logistics are viewed as premium qualities as companies continue to emphasise cost control. In Exxon's case, this trend has led to its focus on deep-water discoveries, such as the nine in its Stabroek block offshore Guyana. The company also acquired new acreage in Brazil's fifth pre-salt bid round. At
Also in this section
27 January 2025
Regional state-owned firms are transforming their strategies and leveraging their resources to position themselves as clean energy powerhouses, and to ensure they maintain influence in a low-carbon world
27 January 2025
Asian neighbours seek resolution on territorial dispute for hydrocarbons development that has spanned decades
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
