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Texas Oil Production Could More than Double by 2025 and Surpass Saudi Arabia

ExxonMobil revised its Permian Basin (Texas and New Mexico) growth plans to produce more than 1 million oil-equivalent barrels per day by as early as 2024 – an increase of nearly 80 percent and a significant acceleration of value. Exxon’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. Exxon’s current Permian reserves would last about 30 years at the 1 million barrel per day rate. ExxonMobil is actively building infrastructure to support volume growth. Plans include construction at 30 sites to enhance oil and gas

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