ExxonMobil: Permian Basin vital to corporate growth, sustainability

ExxonMobil has been able to grow reliable, affordable, low-carbon production while reducing emissions, which Cahir said is vital.

ExxonMobil is banking on its Permian Basin assets to fuel corporate growth in the coming years.

The multinational giant has targeted producing at least 1 million barrels per day from its Permian assets by 2027. In 2023 the company averaged 612,000 barrels a day and is forecasting a 10% average growth rate, according to Bart Cahir, the company’s senior vice president, upstream unconventional.

In Midland to address the Permian Basin Water in Energy Conference, Cahir sat for an interview at the offices of ExxonMobil’s subsidiary XTO Energy in northwest Midland.

In keeping with the purpose of his visit, Cahir said sustainability is as important to the company as its oil and natural gas output.

Click here to read the full article
Source: mrt

—

If you have any questions or thoughts about the topic, feel free to contact us here or leave a comment below.

You might also like
Last year was big for Texas oil companies as they jockeyed for access to petroleum-rich plots of the Permian Basin and branched into new territories.How a spree of oil and gas mergers are setting the stage for 2024
How AI will transform planningHow AI will transform planning, scheduling, and risk management in the oil and gas industry
New Oil and Gas Discovery Pops Up in Gulf of Mexico While Ongoing Drilling Ops Hint Another May Come SoonNew Oil and Gas Discovery Pops Up in Gulf of Mexico While Ongoing Drilling Ops Hint Another May Come Soon
Another good year for Texas oil companies boosted state coffers in 2023, yielding a record $26.3 billion in taxes and state royalties.Texas made record-breaking $26.3B in off oil and gas tax revenue last year
Fossil fuelsFossil fuels could become cheaper and more abundant, says IEA
Merger and acquisition activity among exploration and production companies hit $144B in the fourth quarter alone and $190B for 2023.The oil and gas industry is undergoing its biggest-ever consolidation
Pipeline operators are also embarking on a merger spree in a quest to add scale, optimize assets, and gain more exposure to export markets.US oil and gas merger mania extends to the midstream
Unlock the value beneath your property. Learn how to obtain mineral rights, assess potential, negotiate deals, and navigate legal & financial considerations.How to obtain mineral rights on your property
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *