3 Key Trends Driving Our $107 Price Estimate For Exxon Mobil

Liquids have generally become more profitable to produce than natural gas because of higher price realizations. Last year, Exxon sold liquids at an average price of around $95 per barrel, compared to just around $41 realized per barrel of oil equivalent of natural gas. This is the reason why the company has been trying to improve the proportion of liquids in its production mix over the last couple of years.