We had the honor of hosting an investor call with ExxonMobil’s Jennifer Driscoll and Marina Matselinskaya. We want to thank them both for their time today – it was a great call with lots of questions coming in from participating asset managers.
The bulk of our time was spent discussing Exxon’s Strategy & Growth. One thing is clear – this company is proactive and they’re looking at the future of their business, and that’s good for everyone. “Executing our strategy is delivering strong results.” It’s also leading to good things environmentally. A perfect example being their recent (announced) acquisition of Denbury Inc. There were 28 other buyers for Denbury and Exxon came out on top. A solid move as they work to grow their Low Carbon Solutions business.
They’re “picky acquirers”, so they’re not looking to do deals just to do them. The math is simple, 1+1 must equal 3 (or more). Lots of criteria to meet before they pull the trigger on an acquisition.
As we wrapped up, I asked what should compel investors to buy XOM. They gave me 4 good reasons:
1. Advantaged Growth Opportunities
2. Financial Flexibility/Diverse Portfolio
3. Industry Leading Returns – “Best Among the Best”
4. Leading the Industry in Energy Transition
I would also like to thank our friends at Seaport Research Partners for opening up this event to their clients. They have a really good group there and they’re always a pleasure to deal with: Tim Arthurs, Michael Soules. Meghan Kelly.
