ExxonMobil Plans Permian Output of 1M Barrels per Day

ExxonMobil revised its Permian Basin growth plans to produce more than one million oil-equivalent barrels per day by as early as 2024. The new plan represents a nearly 80% increase over what is now being produced.

The company’s resource base in the Permian is approximately 10 billion oil-equivalent barrels, and is likely to grow further as analysis and development activities continue. Furthermore, the company’s key advantage is acreage position, consisting of large, contiguous acreage, connections to efficient gathering systems and technical capabilities.

ExxonMobil is also building infrastructure to support volume growth. Plans include construction at 30 sites to boost oil and gas processing and water handling, and to ensure takeaway capacity.

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