Is This the Key to ExxonMobil's Production Recovery?
You'd think it'd be obvious that one of the key tasks of an oil company is drilling for oil. However, oil major ExxonMobil (NYSE: XOM) hasn't exactly been doing a good job of that recently, with production steadily declining over the past five years. The company's share price has also been trending downward during that time.
But there may be a glimmer of hope for shareholders, and it's coming from an unlikely place: Guyana. The small South American country is only a little bit bigger than the state of Idaho, with fewer people living there than in Delaware. Here's why this tropical oasis might be the key to returning ExxonMobil to outperformance.
ExxonMobil operates a top offshore block in Guyana, which it hopes will lead to outperformance. Image source: Getty Images.
Source Fool.com
