From Paul Takahashi, Houston Chronicle, here…
”While Exxon said it plans to focus on paying debt and returning more cash to shareholders through dividends and share buybacks, the company plans to gradually increase investments in low-cost oil projects in Guyana, Brazil and the Permian Basin of West Texas. More than 90 percent of Exxon’s oil production investments through 2027 are expected to generate returns of more than 10 percent at prices less than or equal to $35 a barrel.”
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