Q4 2024 Management View Darren Woods, Chairman and CEO, highlighted that Exxon Mobil achieved earnings of $34 billion in 2024, marking its third-highest result in the past decade despite softer market conditions.

Exxon Mobil’s fourth-quarter adjusted profit managed to beat Wall Street’s expectations, as the oil and gas company increased production in Permian and Guyana.

Exxon said over 50% of its 2024 production came from Permian, Guyana, and LNG and expects that share to exceed 60% by 2030. Exxon returned $36 billion to shareholders in 2024, backed by $36.2 billion in free cash flow. The company led the industry with a 12.7% return on capital employed.

ExxonMobil reported fourth-quarter earnings that beat analyst expectations, driven by record production in the Permian Basin and Guyana, despite lower refining margins.

Production in both the US Permian shale basin and Guyana reached a record high, with Guyana volumes recovering after maintenance during last quarter. Overall production was just above 4.6 million barrels of oil equivalent per day in the fourth quarter, and 4.3 million boepd for the full year.