Today's press release implies that there is additional OPEX efficiencies in 2021
https://www.nsenergybusiness.com/news/company-news/exxonmobil-write-down-2020/
The Texas-based oil giant will remove “less strategic” dry gas assets – based across the US, Canada and Argentina – as it focuses instead on high-value projects in Guyana, Brazil and the US Permian Basin.
It says the portfolio reshuffle – which will include offloading assets in the Appalachian and Rocky Mountains, Oklahoma, Texas, Louisiana and Arkansas – will result in a fourth-quarter impairment charge of around $17bn-$20bn....
Capital and exploration investments – already cut by 30% earlier this year to $23bn – will be reduced to $16bn-$19bn in 2021, and then set at $20bn-$25bn annually through to 2025.
Further cost savings are being targeted through “business line reorganisations and efficiencies” that will include a 15% reduction of the global workforce by the end of 2021, accounting for roughly 14,000 people.