![]() Critics Question Capital DeploymentĬritics of the deal will no doubt point to the fact that this does not represent “new” current or projected production for the U.S. The company says it plans to raise that production level to more than 2 million barrels per day by 2027. When the deal closes, ExxonMobil’s Permian production will more than double to over 1.3 million barrels of oil per day. As I noted in a story last week, this large amount of contiguous acreage will allow ExxonMobil to optimize water usage, recycling and transport operations, minimize the number of truck trips, and maximize efficiencies related to both drilling and hydraulic fracturing scheduling, among an array of additional efficiencies. The map shown here clearly illustrates the highly contiguous nature of Exxon’s pre-existing acreage with the newly acquired acreage held by Pioneer in the Midland Basin. Permian Basin holdings by ExxonMobil and Pioneer Natural Resources.
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