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Exxon Outlines Drilling & Frac Strategy for Permian 2020
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ExxonMobil provided an update to its Permian Development plan. First we should note that Exxon is the largest drilling company in the Permian with some 30 rigs operating across the midland and delaware basins.
Notes
Cutting Rig in Permian from 30 to 15 by year-end. Delaying mega pad (27 wells) in Midland county 2Q production was 300 mboe/d up + 9% vs last year. Full year 2020 production expected to 345 Mboe/d Will not let 2021 production decline. The company will most likely complete the backlog of DUCs."Second quarter production was nearly 300,000 oil equivalent barrels per day. That's a 9% increase versus the second quarter of 2019. We continue to anticipate 2020 production will be about 345,000 oil equivalent barrels per day. It's down just 15,000 barrels per day from what we…
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