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Exxon Sees Massive Liquids Growth Due to Permian, Gas Drilling Halt
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Exxon Mobil Corp. reported its Q4 2019 results.
Worldwide Production - Liquids Output SkyrocketsFor Q4 2019, Exxon's exit to exit total production (4Q19 vs. 4Q18) was flat, while YOY gowth (2019 vs. 2018) was only up +3%. However, despite slim overall production growth, the bright spot is U.S. liquids output, which grew +17% YOY and +14% exit to exit.
Driven by Exxon's Permian development, Exxon's U.S. land liquids now accounts for 16% of the company's total production (vs 12% in 1Q 2018).
Exxon seems to be charting a new course in its U.S. Land operations.
From the chart below, we see that the company has slowed and, in some cases, halted gas drilling in favor of ramping up development at its…
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