CLAIM #64272 · Exxon Mobil Corp (XOM) · 2025Q2 earnings call · Aug 1, 2025 · due Dec 31, 2030
“This year to date, we've added $1.4 billion to that total. We expect to continue that to get to our $18 billion target by 2030 off a 2019 basis, and we see that as effective in offsetting some of the increased expense levels, which is largely activity driven.”
James R. Chapman · VP, Treasurer and IR
How to check this claim
Look at: Cumulative structural cost savings versus 2019 baseline, as disclosed by company
It came true if: Cumulative structural cost savings >= $18 billion
Where: Company-disclosed structural cost savings figure (earnings call commentary / investor presentations)
In context
“d through, is very much on track, on schedule and on budget. The additional item there would be in DD&A where, of course, this year versus last, we would expect a higher level of noncash DD&A given the full year of Pioneer in our numbers, and given the growth in our production volume and the same -- very same new projects. So I think to the extent going into 2026, we will revisit that as part of our corporate plan in the fourth quarter. But to the extent additional new projects, which will be more marginal next year compared to this, and increased production, which will drive that DD&A, we'd expect continued increase in line with our activity set and production level. That said, an offset to our expenses is always our success in continuing on our path of realizing structural cost savings. This year to date, we've added $1.4 billion to that total. We expect to continue that to get to our $18 billion target by 2030 off a 2019 basis, and we see that as effective in offsetting some of the increased expense levels, which is largely activity driven. Darren W. Woods: Yes, I would add to that. If you look at the -- in 2019, our cash OpEx and look at where we're at today, ex-energy cost and ex- production taxes, we're actually still lower than we were in 2019, our operating expenses. So we've offset all the inflation and all the growth that we put into the business with the savings that we've been driving here since that time. So I'm sure anybody else could give you the same track record that we've delivered in that space. Operator: The next question is from Jean Ann Salisbury with Bank of America. Jean Ann Salisbury: Since Liberation Day, there has been a massive influx of interest in U.S. LNG contracting. And it looks like many more U.S. projects may move forward versus initially anticipated. Do you view this as a structural shift in”
Verify independently
SEC filings for XOM ↗ · Claim quote is verbatim from the 2025Q2 earnings call.