Exxon Mobil Applies to Expand Footprint in Guyana

With an annual dividend yield of 2.95%, Exxon Mobil Corporation (NYSE:XOM) is included among the 12 Best S&P 500 Stocks to Buy for Dividends.

Exxon Mobil Corporation (NYSE:XOM) is one of the largest integrated fuels, lubricants, and chemical companies in the world.

It was reported on June 16 that Exxon Mobil Corporation (NYSE:XOM) has applied for environmental ​authorization for ​a 35-well exploration ⁠campaign in the ​Stabroek block off the coast of Guyana. According to the country’s Environmental Protection Agency, the campaign is expected to run from 2028 to 2033 and would occur simultaneously with other drilling programs.

While the EPA thinks that the project by itself will not significantly impact the marine environment and thus an environmental impact assessment is not required, it noted that a cumulative impact assessment needs to be filed.

The American oil and gas giant began oil production in Guyana in 2019 and reported $4.67 billion in profit from its operations in the South American country in 2025. Exxon currently produces more than 900,000 barrels per day from Guyana and remains on track to expand its installed capacity to 1.7 million bpd by 2030.

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