EXXOMMOBIL EXPECTS PRODUCTION RECORDS IN PERMIAN BASIN
ExxonMobil, the US energy giant base in Spring, Texas, recently announced its projections for the coming years. They expect to deliver approximately 600,000 barrels of oil equivalent per day (boed) by 2023 and aim to reach a milestone of one million boed by 2027. In specific regions, Exxon reported a 20 percent increase in production compared to the previous year. In the Permian Basin, they achieved a production rate of 620,000 boed, while in Guyana, they reached this milestone in the second quarter of 2023.
Darren Woods, the chairman and CEO of ExxonMobil, expressed his satisfaction with the company’s progress in the Permian region. He stated that their strategic plans, implemented in 2019, have resulted in record-breaking production levels this quarter. Furthermore, Woods emphasized that their overall production growth for this year is expected to be around 10 percent. However, he also acknowledged that their growth trajectory may not be linear due to the need to balance and optimize capital efficiency, resource recovery, and production rates. Ultimately, ExxonMobil’s primary focus remains on driving value rather than solely focusing on increasing volumes.
(Source: PB O&G – ExxonMobil)