ExxonMobil Taps Shearwater Geoservices for a Large Seismic Survey

Exxon Mobil Corporation XOM has tapped Shearwater Geoservices to conduct a 3D seismic survey to generate detailed seismic images of its deepwater block offshore Trinidad and Tobago. The seismic images provide insights about the rock formations, enabling companies to identify oil and gas reservoirs before drilling. The deepwater seismic survey will encompass an area of approximately 6,000 square kilometers off the coast of Trinidad and Tobago.

In August 2025, ExxonMobil signed a production-sharing contract (PSC) with the government of Trinidad and Tobago for a large deepwater block, which constituted seven separate deepwater blocks that were merged into one. This is likely to have made the process more efficient by eliminating the need to manage seven blocks separately. During the signing of the PSC, an Exxon spokesperson stated that the company intends to apply its extensive knowledge of Caribbean geology to accelerate exploration in Trinidad and Tobago.

Notably, the company’s operational history in the neighboring country of Guyana demonstrates its experience and success in the Caribbean. The company aims to replicate its success in Guyanese waters within Trinidad as well. XOM has also mentioned that it plans to speed up its exploration and development timeline in Trinidad compared with Guyana, given the established energy infrastructure in Trinidad and Tobago and the large-scale infrastructure already in place in Guyana.

This supports ExxonMobil’s sustained growth in the Caribbean and strengthens its global upstream portfolio. Moreover, by utilizing the existing infrastructure and system in Trinidad and Guyana, the company could generate cost synergies and reduce development timelines.

XOM’s Zacks Rank and Key Picks

XOM currently has a Zacks Rank #4 (Sell).

Some top-ranked stocks from the energy sector are Subsea7 S.A. SUBCY, Oceaneering International OII and W&T Offshore WTI. While Subsea7 and Oceaneering currently sport a Zacks Rank #1 (Strong Buy) each, W&T Offshore carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Subsea7 helps build underwater oil and gas fields. It is a leading player in the global offshore energy industry, providing engineering, construction and related services at offshore oil and gas fields. The long-term outlook for energy demand remains positive, and Subsea7’s focus on cost-efficient deepwater projects strengthens the position of its subsea business.

Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. The company is a leading provider of offshore equipment and technology solutions to the energy industry. OII’s proven ability to deliver innovative, integrated solutions supports ongoing client retention and new business opportunities, ensuring steady revenue growth.

W&T Offshore benefits from its prolific Gulf of America assets, which offer low decline rates, strong permeability and significant untapped reserves. The company’s recent acquisition of six shallow-water fields in the Gulf of America boosts its production prospects in the future, which is expected to enhance its revenues. 

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research