ExxonMobil has awarded a multi‐million‐dollar contract to Shearwater Geoservices to conduct a 3D seismic survey spanning approximately 15,000 square kilometers in deepwater blocks off Trinidad and Tobago. The survey, scheduled to begin in Q2, will utilize Shearwater’s Ramform Titan class vessels and broadband seismic technology to penetrate subsurface formations at depths exceeding 5,000 meters. ExxonMobil expects the data to underpin its next phase of exploration wells planned for 2027 and to enhance reservoir characterization, potentially unlocking up to 500 million barrels of recoverable oil equivalent. This investment follows ExxonMobil’s commitment to allocate $300 million to frontier exploration this year, underscoring the company’s strategy to replenish its exploration portfolio outside the U.S. Gulf of Mexico.

ExxonMobil has announced another increase in its quarterly dividend, marking the company’s 42nd consecutive year of dividend growth, and approved a $15 billion share repurchase authorization for fiscal 2026. Backed by an investment‐grade balance sheet with a debt‐to‐capital ratio of 17%, ExxonMobil has maintained free cash flow above $25 billion annually over the past three years, even as Brent crude prices oscillated between $70 and $100 per barrel. The company’s low‐cost asset base, including long‐life projects in Guyana and the Permian Basin with breakeven costs below $35 per barrel, supports resilient cash generation. Management reiterated its target of returning at least 60% of cash flow to shareholders through dividends and buybacks, ensuring a yield in the top quartile of integrated energy peers without compromising its disciplined capital investment plan.