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
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
21 January 2025
The new president must put his cards on the table and tell the American people, and the world, if the US is formally abandoning the energy transition
