ExxonMobil Corporation today reported record-breaking production from Guyana in the third quarter of 2025, surpassing 700,000 barrels of oil per day and achieving the early start-up of the Yellowtail project, four months ahead of schedule and under budget.
ExxonMobil holds a 45% stake in the Stabroek Block, alongside Hess with 30% and CNOOC with 25%. The company said the milestone reflects its strong operational performance and project execution capabilities.
“ExxonMobil had a strong third quarter, continuing to demonstrate that we are truly in a league of our own,” said Darren Woods, ExxonMobil Chairman and Chief Executive Officer. “We delivered the highest earnings per share we’ve had compared to other quarters in a similar oil-price environment. In Guyana, we broke records with quarterly production surpassing 700,000 barrels per day, and started up the Yellowtail development four months early and under budget.”
The Yellowtail project, the largest of ExxonMobil’s four producing developments offshore Guyana, adds an initial 250,000 barrels of oil equivalent per day, bringing total installed capacity in the Stabroek Block to over 900,000 barrels per day. The company also made the final investment decision on Hammerhead, its seventh development in the Block, targeting 150,000 barrels of oil equivalent per day by 2029.
Upstream earnings for the first nine months of 2025 totaled US$17.8 billion, slightly lower than last year due to weaker crude realizations and higher depreciation. These impacts were partially offset by higher production in Guyana and the Permian Basin. ExxonMobil reported total net production of 4.7 million barrels of oil equivalent per day year-to-date, increasing to 4.8 million barrels per day in the third quarter.
Overall, ExxonMobil recorded third-quarter earnings of US$5.7 billion, up US$277 million from the previous quarter, and year-to-date earnings of US$22.3 billion. Cash flow from operations reached US$39.3 billion, while free cash flow totaled US$20.6 billion. The company declared a fourth-quarter dividend of US$1.03 per share, marking its 43rd consecutive year of dividend growth.
The company said it has now achieved over US$14 billion in cumulative structural cost savings since 2019 and expects to exceed US$18 billion by 2030. Year-to-date capital expenditures reached US$20.9 billion, with full-year spending expected to come in just below the lower end of its US$27 to US$29 billion guidance range.
ExxonMobil also highlighted the start-up of its next-generation supercomputer, Discovery 6, built with Hewlett Packard Enterprise and NVIDIA to enhance reservoir and exploration analysis.
Woods said the company has now “started up eight of our ten key 2025 projects,” adding that “no one else in our industry is executing at this scale, with this level of innovation, or delivering this kind of value”.
