The world’s largest publicly operated oil and natural gas company is continuing to remake itself as it stacks up more resources to develop and looks beyond traditional energy to prepare for the future, ExxonMobil CEO Darren Woods said Friday.

Woods discussed the third quarter results during an hour-long call with energy analysts, whose questions centered around the all-stock takeover of Permian Basin pure-play Pioneer Natural Resources Co. More details were provided explaining the rationale for buying Lower 48 carbon dioxide (CO2) capture specialist Denbury Inc. 

In addition, Woods shared insights into the promising lithium development in the Smackover formation of Arkansas.

“Recently announced acquisitions are great examples of the ‘and’ equation: meeting the...