Exxon Mobil Corporation XOM, the U.S. energy giant, has awarded a significant contract to Shearwater Geoservices, a Norwegian marine geoscience and technology firm, in Guyana. Per the terms of the contract, Shearwater Geoservices will conduct a deepwater 4D ocean-bottom node (OBN) seismic survey for ExxonMobil Guyana. The OBN technology is especially suited for deepwater surveys as it can collect high-resolution data in these environments through sensors placed on the seabed.

The seismic survey is expected to start in the first half of 2025. The project is anticipated to last for six months, as per Shearwater’s statement. The reservoir monitoring program shall be conducted using a Shearwater seismic vessel as the source vessel. Additionally, a dual remotely operated vehicle vessel will be utilized for deploying the ocean-bottom nodes. The 4D OBN reservoir surveillance program is aimed at understanding changes in hydrocarbon reservoirs over time. This helps companies optimize production from these reservoirs.

Shearwater Geoservices had previously executed a 4D towed streamer operation for XOM in Canada, underscoring the former’s successful track record. The company noted that there has been a consistent increase in 4D OBN monitoring projects in the international energy market. Shearwater believes that the cutting-edge technology and extensive experience should enable it to capture this market demand. Additionally, the company’s advanced seismic fleet enhances its technological offering in deepwater seismic services.

XOM’s Zacks Rank and Key Picks

XOM currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the energy sector are Matador Resources Corporation MTDR, Equinor ASA EQNR and Archrock Inc. AROC, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Matador Resources is a leading U.S.-based exploration and production firm. The company has consistently exceeded production expectations, demonstrating operational efficiency and robust growth. MTDR’s production efficiency, combined with the favorable oil price environment, is expected to positively impact its bottom line.

Equinor ASA is one of the leading integrated energy companies globally and the second-largest supplier of natural gas in Europe. The company’s expansion in the renewable energy space positions it for long-term growth as more and more countries transition toward cleaner energy solutions to meet their climate goals. Its strategic pivot toward low-carbon energy solutions unlocks new revenue streams in the growing market for clean energy and carbon management solutions.

Archrock is an energy infrastructure company based in the United States, with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.

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