XOM: U.S Yield to Rise 45% by '40 - Analyst Blog
14 Marzo 2013 - 2:10PM
Zacks
U.S. energy behemoth
ExxonMobil Corporation (XOM) expects oil and
natural gas output in North America to grow by 45% over the coming
three decades.
The U.S. shale formations, Canadian oil sands projects and the Gulf
of Mexico (GoM) are primarily responsible for the increased yield.
The easy accessibility and relatively economical production have
attracted several oil majors including ExxonMobil to increase
investments in North America.
North America imported 35% of its oil in 2010 and had flat
production for decades. But several technological progresses have
been made to tap oil and gas from shale-rock formations as well as
extracting oil or gas from oil sands and deep-water prospects in
North America. These efforts have changed the energy outlook for
the region.
On the other hand, the U.S. energy consumption, on the whole, is
likely to flatten eventually and fall by 5% during 2010 to 2040.
ExxonMobil forecasts that the region would become a net energy
exporter by around 2025, aided by the combination of rising output
and sluggish demand. The countries in the Asia Pacific region are
expected to be the main importers by 2040 as their demands
escalate.
In November 2012, the monthly U.S. oil yield was more than 7
million barrels a day, for the first time in two decades. As per
the International Energy Agency, the U.S. is expected to beat Saudi
Arabia as a crude producer in the coming 10 years.
Further, it has been observed that growing dependence on natural
gas and renewable sources of energy such as wind will decrease
carbon emissions by 25% by 2040. During this time, the emissions
are also expected to slide to their lowest level since the
1970s.
ExxonMobil holds a Zacks Rank #3, which is equivalent to a
short-term Hold rating. However, there are other stocks in the
energy sector - Enerplus Corporation (ERF),
Range Resources Corporation (RRC) and EPL
Oil & Gas, Inc. (EPL) - which carry a Zacks Rank #1
(Strong Buy) and are expected to perform impressively over the next
few months.
EPL OIL&GAS INC (EPL): Free Stock Analysis Report
ENERPLUS CORP (ERF): Free Stock Analysis Report
RANGE RESOURCES (RRC): Free Stock Analysis Report
EXXON MOBIL CRP (XOM): Free Stock Analysis Report
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