US supermajors ExxonMobil and Chevron are pushing ahead with expansion programmes that could see the duo producing close to 2 million barrels of oil equivalent per day between them from the prolific Permian basin of Texas and New Mexico by 2024.
ExxonMobil is forecasting its expansion programme will see it hit production of 1 million boepd by 2024, while its San Ramon-based counterpart is predicting output of 900,000 boepd by 2023
ExxonMobil has 51 rigs active in the basin, about 29 in the Delaware and 22 in the Midland, senior vice president Neil Chapman told investors on a second-quarter conference call late last week, adding that the company expects to hit its target of about 55 units by the end...
