ExxonMobil & HELLEniQ ENERGY JV Completes First Exploration Phase In Crete, Eyes Next Steps
Portfolio Pulse from Lekha Gupta
ExxonMobil and HELLEniQ ENERGY have completed the first exploration phase in Crete and are moving to the second phase, focusing on 3D seismic data. Exxon also secured a large CO2 storage lease in the U.S. However, falling oil prices are expected to impact Exxon's Q3 earnings.
October 10, 2024 | 12:47 pm
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NEUTRAL IMPACT
Investors can gain exposure to ExxonMobil's activities through the EA Series Trust Strive U.S. Energy ETF.
The ETF provides exposure to ExxonMobil, which is involved in significant exploration and CO2 storage projects. However, the impact on the ETF's price is indirect and depends on broader market conditions.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Investors can gain exposure to ExxonMobil's activities through the Westwood Salient Enhanced Energy Income ETF.
The ETF provides exposure to ExxonMobil, which is involved in significant exploration and CO2 storage projects. However, the impact on the ETF's price is indirect and depends on broader market conditions.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
ExxonMobil completed the first exploration phase in Crete and is moving to the next phase. It also secured a large CO2 storage lease in the U.S. However, falling oil prices are expected to reduce Q3 earnings.
The completion of the exploration phase and the CO2 storage lease are positive developments for ExxonMobil, indicating potential future growth and diversification. However, the expected reduction in Q3 earnings due to falling oil prices could offset these positives in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100