CLAIM #63916 · Exxon Mobil Corp (XOM) · 2021Q4 earnings call · Feb 1, 2022 · due Dec 31, 2024
“So we’ve kind of have an expectation as we bring new assets on that those operating teams figure out unique ways to get beyond constraints and improve the performance.”
Darren Woods · CEO
In context
“the barrel to be successful. And taking that technology and approach to some of our upstream assets and sharing that technology and working with the upstream teams to improve the productivity of the assets on the ground, that’s paying off really all around the world where we’re applying that technique. And what you’re seeing in Papua New Guinea is that’s part of the driver – what the driver of that increase on top of just hard work by that operating team to maintain reliability and to run that plant to its constraints. And so I think it’s the combination of those two things. And our expectation, we’ve seen that in Chemical as well. As we brought those plants up, we’ve been able to run above the nameplate capacity, just, again, with the optimization and the hard work of the operating team. So we’ve kind of have an expectation as we bring new assets on that those operating teams figure out unique ways to get beyond constraints and improve the performance. Biraj Borkhataria: Okay. Thanks. Thank you very much. Operator: We’ll go to Jason Gabelman with Cowen. Jason Gabelman: Thank you for taking my questions. First, I wanted to touch on the CapEx guidance, provided a range of $21 billion to $24 billion, which is appreciated. Can you just discuss how you think about what determines the low end and the high end of that range for this year? And I have a follow-up. Thanks. Kathy Mikells: Sure. So overall, I think as you consider the range that we’ve given, I’d kind of point to starting the year with an expectation of being more towards the center of the range, and then we’ll see, ultimately, how the projects and the big projects proceed is probably the biggest indicator and whether any new projects ultimately come online, which we would always be”
Verify independently
SEC filings for XOM ↗ · Claim quote is verbatim from the 2021Q4 earnings call.