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ExxonMobil evaluating significant near-term capital and operating expense reductions; COVID-19

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ExxonMobil holds the leading acreage position in Brazil among international oil companies and added more than 450,000 acres in 2019, for a total of 2.5 million net acres. The company has plans to increase exploration activity in 2020 and 2021, and Phase 1 of the Bacalhau field development is progressing on schedule.