New York, Feb 20, 2026, 19:07 EST — After-hours
- Exxon Mobil (XOM) last down 2.4% at $147.28 in after-hours trade
- SEC filing shows director Jeffrey W. Ubben will not seek re-election at the May 27 annual meeting
- Oil held near six-month highs, keeping traders focused on geopolitics and Exxon project milestones
Exxon Mobil shares fell 2.4% on Friday and were last at $147.28 in after-hours trading. The stock ranged from $146.47 to $151.63 and traded about 25.9 million shares; Chevron ended down 0.5%.
The pullback came with crude still doing most of the talking for energy names. Brent settled at $71.76 a barrel and U.S. West Texas Intermediate at $66.39, leaving both benchmarks up more than 5% for the week; “The market is nervous, it’s going to be a wait-and-see day,” Ole Hansen at Saxo Bank said. (Reuters)
For Exxon, that mix matters now because the stock is getting pulled between macro headlines and company execution. Investors want steady cash returns, but they also want to see the next wave of LNG and Guyana capacity land without unpleasant surprises.
Exxon said in an SEC current report, known as an 8-K, that director Jeffrey W. Ubben will not stand for re-election at the May 27 annual meeting. “We thank Jeff for his service on the ExxonMobil Board of Directors,” CEO Darren Woods said; the filing said Ubben’s decision was unrelated to the company and that he will remain a director until the meeting. (Exxon Mobil Corporation)
In operations, the Golden Pass liquefied natural gas (LNG) venture with QatarEnergy moved closer to first production after pulling in about 300 million cubic feet of feed gas on Wednesday, LSEG data showed. Woods told analysts: “My expectation is we will see first LNG produced in very early March.” (Reuters)
Exxon’s Uaru project offshore Guyana is ahead of schedule and under budget and is still expected to start pumping oil this year, while the Whiptail project remains on track for 2027, Exxon Guyana President Alistair Routledge said at the Guyana Energy Conference. Each development is designed for up to 250,000 barrels per day; Routledge said progress on gas projects “will require work from the government to develop industrial sectors.” (Reuters)
Guyana’s natural resources minister, Vickram Bharrat, said Exxon is still working to determine the size of gas resources in the Stabroek block, a step that could shape future development and any export ambitions. “Exxon still needs to do more work to evaluate the amount of resources there,” he said; Exxon has discussed a second gas development that may include another floating production, storage and offloading vessel, or FPSO. (Reuters)
On the paperwork side, Exxon filed a Form S-3 shelf registration for debt securities. A shelf registration is a framework that lets a company raise money later in one or more bond offerings, with the specific terms set in future supplements. (Exxon Mobil Corporation)
In its annual report filed on Feb. 18, Exxon said it completed $20 billion of share repurchases in 2025 and expects $20 billion in 2026, assuming reasonable market conditions. That buyback cadence is one of the swing factors traders watch when the tape turns choppy. (Exxon Mobil Corporation)
The broader U.S. market finished higher after the Supreme Court struck down President Donald Trump’s tariffs, pushing stocks up and yields down. Exxon didn’t follow that script, a reminder that oil and geopolitics can swamp the rest of the day’s headlines for energy. (Reuters)
But the path isn’t clean. A sudden easing in Middle East tensions or a fresh supply scare in the other direction can knock crude down fast, and Exxon’s biggest projects still carry the usual risks — timing slips, cost creep, or regulatory delays.
Looking ahead, traders will watch for any shift in Washington-Tehran signals that bleeds into oil supply assumptions, and for further clarity on Exxon’s Guyana gas options and whether it taps the bond market under the new shelf. The next concrete catalyst is Golden Pass’ expected start of LNG production in early March.
