ExxonMobil Eyes $21.7B in Trinidad Deepwater Exploration Push

Exxon Mobil Corporation (XOM) 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 ProjectSpeaking 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 MonthsExxonMobil 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 BlockExxonMobil 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 PicksXOM 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, Flotek Industries, Inc. FTK and Enbridge Inc. ENB, 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%.See our %%CTA_TEXT%% report – free today!7 Best Stocks for the Next 30 DaysWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Exxon Mobil Corporation (XOM): Free Stock Analysis Report Antero Midstream Corporation (AM): Free Stock Analysis Report Enbridge Inc (ENB): Free Stock Analysis Report Flotek Industries, Inc. (FTK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks