ExxonMobil is doubling down on its commitment to pumping more oil and gas, announcing a long-term plan that focuses on taking advantage of its nearly $60 billion purchase of Pioneer Natural Resources earlier🐲 this year. 

The energy giant announced its "Corporate Plan to 2030," which it said "reflects the company's strategy to leverage its unique set of competitive advantages and unrivaled opportunities to create significant upside potential for shareholders."

ExxonMobil explained that it expects $27 billion to $29 billion in capital expenditures in 2025 and another $28 billion to $33 billion every year from 2026 through 2030. The company had guided for 2024 capex of $23-$25 billion before completing the Pioneer deal, then raised it to $28 billion in August.

It added that the plan is expected to "deliver incremental growth potential of $20 billion in earnings and $30 billion in 澳洲幸运5官方开奖结果体彩网:cash flow."

Pio𒐪neer Acquisition Helps Company Reach Upstreಞam Target Early

The company noted that because of the Pioneer acquisition, it reached its target of having more than half of its total upstream production from "advantaged assets" in the West Texas/Southeast New Mexico Permian Basin, Guyana, and liquid natural gas (LNG) "three years earlier than planned." It explained that by 2030, more than 60% of its production would come from those advantaged assets, which would equate to an increase of 5.4 million 澳洲幸运5官方开奖结果体彩网:oil-equivalent barrels per day. 

In addition, ExxonMobil pointed out that it ⛄had $3 billion in cost savings from synergies from the Pioneer deal, more than 50% greater than originally estimated. 

Although ExxonMobil shares are down 1% today, they've still added more than 11% year-to-date.