ExxonMobil and Chevron go big in the Permian
It is a new era for the supermajors and the west Texas shale basin as the companies plot aggressive growth plans
For the first time in a long time, America's supermajors are putting the US at the heart of their growth strategies. ExxonMobil and Chevron this year have both rolled out aggressive plans to expand in the Permian. This move will bring deep pockets and big-oil discipline to the fast-growing shale play, which has been dominated in the past by upstart independents. Exxon signalled its intentions in the Permian last year when it bought up huge tracts of land in the Delaware section of the play from the famed oil-rich Bass family for $5.5bn. Since, it has pieced together hundreds of thousands of acres across the Midland and Delaware sections of the Permian through a series of purchases and land s
Also in this section
15 May 2025
Financial problems, lack of exploration success and political dogma cause uncertainty across much of the region
14 May 2025
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
13 May 2025
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
12 May 2025
With the gas industry’s staunchest advocates and opponents taking brutal blows, the sector looks like treading a path of insipid indifference
