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Exxon Plays Long Game With Shale's 'Flexibility'
This year, Exxon will produce 1.2 million barrels of oil equivalent per day from the Permian Basin, the prolific shale play that spans the Texas-New Mexico border — a substantial haul from a single play, even for a company of Exxon’s size. But the US supermajor is only getting started there, with plans to grow Permian output to 2 million boe/d by 2027, providing the linchpin of broader short-cycle volumes set to dominate Exxon’s future resource base. Exxon has heralded the flexibility these barrels provide in uncertain times. But Woods made clear in a recent exclusive interview with Energy Intelligence that ... (full story)