Exxon Mobil’s Shale Output per Well in Permian Basin Slips
Exxon Mobil’s average liquids output over a well s first 12 months fell in its Delaware Basin holdings in New Mexico, according to IHS Markit data compiled by the Institute for Energy Economics and Financial Analysis.
Jennifer Hiller, Reuters Your browser does not support the audio element.
Exxon Mobil Corp.’s oil wells in part of a marquee U.S. shale field generated fewer barrels per well as it ramped up overall spending and production, according to a new report that looks at data from 2018-19.
A $6.6 billion acquisition in 2017 of New Mexico acres doubled Exxon Mobil holdings in the Permian Basin that spans west Texas and New Mexico. The Permian’s New Mexico portion is among Exxon Mobil’s priorities with a goal to boost shale output to 700,000 bbl/d by 2025.
A new report finds that the productivity of ExxonMobil’s wells in the Permian basin declined in 2019, raising “troubling questions about the quality” of its assets.
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