Exxon Mobil Corporation (NYSE: XOM) recently made a Form 8-K disclosure, stating that soft natural gas prices — resulting from reduced demand and surplus inventories — are expected to have negatively impacted its second-quarter 2024 earnings. Additionally, its announcement regarding diminished refining margins exacerbates apprehensions about second-quarter earnings performance.   The critical question now facing investors is how to strategically position themselves regarding the stock. Before addressing this, let's review some fundamental aspects of ExxonMobil. Strong Permian & Guyana Presence With a strong focus on strengthening its presence in the Permian, ExxonMobil completed the acquisition of Pioneer Natural Resources Company on May 3. With 1.4 million net acres of the combined company in the Delaware and Midland basins, having an estimated 16 billion barrels of oil equivalent resource, ExxonMobil has greatly transformed its upstream portfolio. The company expects that based on 2023 volumes, its production from the most prolific basin will more than double to 1.3 million barrels of oil equivalent per day (MMBoE/D). For 2027, the energy giant expects its Permian production volume to increase to 2 MMBoE/D. Similar to its operations in the Permian, ExxonMobil boasts a robust project pipeline in offshore Guyana resources. The company is well-positioned to generate significant returns from both the Permian and Guyana due to low production costs ...