– Execs cite industry-leading development pace, high oil prices for accelerated recovery

United States (US) oil major ExxonMobil has fully recovered some US$55 billion that was invested in the Stabroek Block operations offshore, paving the way for Guyana to benefit from a larger share of the oil profits going forward. This was revealed by executives of the US energy giant during the company’s 2026 second-quarter earnings call on Friday.

“We’ve fully recovered the $55 billion of investment along with all the operating costs,” Senior Vice President (VP) and Chief Financial Officer (CFO) of ExxonMobil Neil Hansen indicated. Hansen attributed this acceleration of the investment recovery to the company’s execution of its projects at an industry-leading pace, lower development costs, operational performance, and high oil prices on the global market – a view shared by Exxon’s Chairman and Chief Executive Officer (CEO) Darren Woods.