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Exxon has reported its growth outlook through 2025.
Eyes 5x Permian Production Growth
The company plans to increase tight-oil production five-fold from the U.S. Permian Basin and start up 25 projects worldwide. Those startups will add volumes of more than 1 million oil-equivalent barrels per day. In LNG, the company expects to bring on new production to meet a projected increase in global demand.
The contiguous stacked pays from the New Mexico acquisition are now estimated to provide more than 4,800 drilling locations with an average lateral length of more than 12,000 feet, enabling capital-efficient execution of Permian volumes growth and the potential to further increase future volumes.
Increase Earnings 100%
Growth plans include steps to increase earnings by more than 100 percent - to $31 billion by 2025 at 2017 prices - from last year's adjusted profit of $15 billion.
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