Exxon’s operations offshore Guyana are proving to be highly profitable Breakeven costs for its projects are expected to drop from $35 per barrel to $25 per barrel, an industry low ExxonMobil has a very favorable production sharing agreement and low royalty rates Global energy supermajor ExxonMobil is one of the few Western energy companies to invest in developing Guyana’s burgeoning oil industry. Since making the first high quality oil discovery during 2015 in the 6.6 million acre Stabroek Block, where Exxon is the operator and owns a 45% interest, the oil supermajor has experienced incredible success . By the end of 2020, when global oil companies were tightening their belts and learning to live in a sub-$50 per barrel world Exxon announced it was focusing capital spending on offshore Guyana. That decision is paying off in spades for the global energy supermajor. Guyana is shaping up to be South […]