Exxon, Chevron Move to Dominate Permian as Smaller Players Pull Back
The Big Oil companies Exxon Mobil and Chevron are keeping their promises to dominate the Permian Basin
Exxon Mobil has, by far, become the Permian’s most active driller with more than 50 rigs operating in the West Texas oil field. It is increasing production thereby nearly 90 percent in 12 months. Chevron, along with Occidental Petroleum of Houston, is one of just two companies producing more than 420,000 barrels of oil. It is equivalent per day from the region, the companies said Friday in their quarterly earnings reports.
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