CLAIM #64167 · Exxon Mobil Corp (XOM) · 2024Q2 earnings call · Aug 2, 2024 · due Dec 31, 2025
“Right now, our estimate is we are going to see about a six month slippage. So we had anticipated kind of first LNG in the middle of next year. We now are looking at probably the back end of 2025 for first LNG.”
Darren Woods · CEO
In context
“am to basically shift the portfolio and get a little heavier weighting in the oil side. And as I mentioned, this morning on CNBC, if you look at the oil that we're producing today, we are producing more oil than at any time since the merger of Exxon and Mobil. So that strategy is beginning to manifest itself. On your Golden Pass project, so we've just gotten through -- the venture just reached a settlement with Zachry. And so that venture is in the process of kind of restaffing and getting started back up again. Obviously, we are in the very early days of that. So there is still more work to be done. And of course, the teams are very focused on getting back to work, effectively executing and bringing that project in as quickly as they can and as close to the original schedule as they can. Right now, our estimate is we are going to see about a six month slippage. So we had anticipated kind of first LNG in the middle of next year. We now are looking at probably the back end of 2025 for first LNG. And that is kind of where the current schedule is. But I would just condition that with the teams are just getting back up and running, and they have a clear mandate to try to bring that in as effectively as they can. And my -- again, my expectation is it will do better than we currently think, but we've got work to do. Biraj Borkhataria: Yeah, understood. Thank you very much. Darren Woods: Thank you Biraj. Operator: The next question is from Stephen Richardson with Evercore. Stephen Richardson: Hi, thank you. I was wondering if you could circle back. I appreciate all the conversations about the projects and projects execution and how you've got a number of really important and interesting projects coming on in the Downstream in short order. Just wondering, you've added seemingly quite a”
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SEC filings for XOM ↗ · Claim quote is verbatim from the 2024Q2 earnings call.