ExxonMobil will spend more than 25% of its $22 billion capital budget this year on US onshore tight oil plays in the Permian and Bakken, where it hopes to grow production to as much as 750,000 barrels of oil equivalent per day by 2025.
The US supermajor believes it has more than 5500 potential locations in the two plays that have a rate of return above 10% at oil prices of $40 and more than 1800 of those have “significantly higher returns” than that.
Texas-based
