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Exxon Mobil eyes 2 million bpd of output in the Permian by 2027
May 1, 2024
Exxon Mobil (XOM.N), opens new tab will bring its Permian basin output up to 2 million barrels per day by 2027, while it also ramps up production in Guyana, Vice President of Global Exploration John Ardill said on Tuesday at a conference in Houston.
Exxon has grown its position in the Permian significantly since 2017, when it acquired some 250,000 acres from the Bass family that held an estimated 3.4 billion barrels of oil equivalent.
Last year, it said it would buy shale producer Pioneer Natural Resources, further growing its footprint in the Permian.
The company is also planning to bring Guyana oil output to 1.2 billion barrels per day by 2027.
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