We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
XOM Signs MoU With Gabon to Explore Offshore Oil and Gas Prospects
Read MoreHide Full Article
Key Takeaways
{\"0\":\"Exxon Mobil has signed an MoU with Gabon to explore deepwater and ultra-deepwater areas.\",\"1\":\"The deal marks ExxonMobil\'s renewed focus on Africa, where it already operates in several nations.\",\"2\":\"Gabon aims to boost crude output, which has fallen from 370,000 to 240,000 barrels per day.\"}
Exxon Mobil Corporation (XOM - Free Report) , the U.S. oil and gas major, recently announced that it has signed a memorandum of understanding (MoU) with the Gabonese government to explore deepwater and ultra-deepwater areas for potential oil and gas reserves. The company has only disclosed the signing of the MoU, without providing additional details about the agreement.
The MoU signifies the U.S. energy company’s increasing footprint in Africa. ExxonMobil already has a presence in several countries in Africa, including Nigeria, Mozambique and Angola. XOM was previously active in Gabon as well. In 2006, the company made a hydrocarbon discovery in collaboration with Chevron Corporation in Gabon. However, at present, it does not hold any exploratory acreage in the country.
Gabon is currently struggling with declining production levels, and the government is actively trying to reverse this trend. Per S&P Global Commodity Insights, the country’s crude production has reportedly decreased from its peak levels of 370,000 barrels per day (bbl/d) in 1997 to 240,000 bbl/day in August 2025. The MoU signed with the government of Gabon indicates the possible return of ExxonMobil to this country, focusing on the discovery of new resources to aid Gabon's crude production goals.
On a different note, ExxonMobil is due to release its third-quarter results on Oct. 31, 2025, before market open.
Cheniere Energy is involved in LNG-related businesses, which include LNG terminals and natural gas marketing. The company has achieved a milestone with the first production from the first LNG train of its Corpus Christi Stage 3 Liquefaction Project. The project, which includes seven midscale LNG trains, aims to expand the production capacity of the Corpus Christi Liquefaction facility. This expansion is expected to strengthen Cheniere's position in the rapidly growing global LNG market, enabling it to meet the rising demand for LNG both in the United States and internationally.
Bloom Energy manufactures one of the most advanced and versatile fuel cell energy platforms. The company has two key offerings, the Bloom Energy Server for electricity generation and the Bloom Electrolyzer for hydrogen production. The Energy Server system provides sustainable and reliable power solutions for both commercial and utility customers. Bloom Energy is anticipated to benefit from rising demand for reliable and clean power, fueled by the growth of data centers, crypto-mining facilities and the re-shoring of manufacturing in key sectors in the United States, such as semiconductors.
Archrock is an energy infrastructure company based in the United States with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues. With natural gas playing an increasingly important role in the energy transition journey, AROC is expected to witness sustained demand for its services.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
XOM Signs MoU With Gabon to Explore Offshore Oil and Gas Prospects
Key Takeaways
Exxon Mobil Corporation (XOM - Free Report) , the U.S. oil and gas major, recently announced that it has signed a memorandum of understanding (MoU) with the Gabonese government to explore deepwater and ultra-deepwater areas for potential oil and gas reserves. The company has only disclosed the signing of the MoU, without providing additional details about the agreement.
The MoU signifies the U.S. energy company’s increasing footprint in Africa. ExxonMobil already has a presence in several countries in Africa, including Nigeria, Mozambique and Angola. XOM was previously active in Gabon as well. In 2006, the company made a hydrocarbon discovery in collaboration with Chevron Corporation in Gabon. However, at present, it does not hold any exploratory acreage in the country.
Gabon is currently struggling with declining production levels, and the government is actively trying to reverse this trend. Per S&P Global Commodity Insights, the country’s crude production has reportedly decreased from its peak levels of 370,000 barrels per day (bbl/d) in 1997 to 240,000 bbl/day in August 2025. The MoU signed with the government of Gabon indicates the possible return of ExxonMobil to this country, focusing on the discovery of new resources to aid Gabon's crude production goals.
On a different note, ExxonMobil is due to release its third-quarter results on Oct. 31, 2025, before market open.
XOM’s Zacks Rank and Key Picks
XOM currently carries a Zacks Rank #3 (Hold).
Some top-ranked stocks from the energy sector are Cheniere Energy Inc. (LNG - Free Report) , Bloom Energy Corporation (BE - Free Report) and Archrock Inc. (AROC - Free Report) . Cheniere Energy and Bloom Energy each sport a Zacks Rank #1 (Strong Buy) at present, while Archrock carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cheniere Energy is involved in LNG-related businesses, which include LNG terminals and natural gas marketing. The company has achieved a milestone with the first production from the first LNG train of its Corpus Christi Stage 3 Liquefaction Project. The project, which includes seven midscale LNG trains, aims to expand the production capacity of the Corpus Christi Liquefaction facility. This expansion is expected to strengthen Cheniere's position in the rapidly growing global LNG market, enabling it to meet the rising demand for LNG both in the United States and internationally.
Bloom Energy manufactures one of the most advanced and versatile fuel cell energy platforms. The company has two key offerings, the Bloom Energy Server for electricity generation and the Bloom Electrolyzer for hydrogen production. The Energy Server system provides sustainable and reliable power solutions for both commercial and utility customers. Bloom Energy is anticipated to benefit from rising demand for reliable and clean power, fueled by the growth of data centers, crypto-mining facilities and the re-shoring of manufacturing in key sectors in the United States, such as semiconductors.
Archrock is an energy infrastructure company based in the United States with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues. With natural gas playing an increasingly important role in the energy transition journey, AROC is expected to witness sustained demand for its services.