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Exxon Plans Massive Permian Rig Ramp-Up in 2017: Here is Where They'll Be
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Exxon gave us a glimpse of its plans for the recently acquired acreage from BOPCo in the northern delaware basin.
Highlights from Conference Call: Permian - Exxon is currently produce more than 140,000 net oil equivalent barrels per day in the Permian and are operating 10 rigs. This is expected to move higher in 2017 as we begin activity on the newly acquired acreage. When asked about a potential increase to 15 rigs in the Permian, Exxon was mum on the details:Bank of America's Doug Leggate: "[In] the Permian piece of that, I think at the time of the acquisition you talked about moving to a 15-rig program. What's the starting point for that? What are you running right now?"
Exxon VP of Investor Relations Jeff Woodbury: "So let me back up and first I say that if you look at the…
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