ExxonMobil
ExxonMobil has kept their full year 2024 production guidance forecast unchanged from the prior reporting quarter. The company looks to grow production by around 1.5% year-on-year after adjusting for acquisitions and divestitures. The Pioneer Natural Resources acquisition is expected to close in the 2nd quarter of 2024. Permian production looks to be on track in 2024. ExxonMobil’s production guidance is in BOE (Barrels of Oil) equivalent per day, and they don’t differentiate between oil and natural gas.
Chevron
Chevron also kept their full year 2024 production guidance forecast unchanged from the prior reporting quarter. Permian and DJ basin production continue to show organic strong performance. Chevron is looking to increase production from current levels in the Permian during the 2nd half of 2024. The merger with Hess is advancing and looks to be certified with the FTC second request in the coming weeks. Chevron’s production guidance is also in BOE (Barrels of Oil) equivalent per day, and they don’t differentiate between oil and natural gas.
