Monday, December 23, 2024

Exxon Announces Massive Pipeline for the Permian

1 MMBPD line would be largest on schedule Pipeline companies are responding to the current takeaway crunch in the Permian. Plains All American Pipeline (ticker: PAA) and ExxonMobil (ticker: XOM) announced plans for a massive pipeline yesterday. Exxon and Plains All American have signed a letter of intent to construct one of the largest lines out of the basin, with

Oil Production in the Permian Will Double From 2017-2023 – IHS

EIA forecasts 11.8 MMBOPD for total U.S. oil production in 2019 A new IHS Markit outlook released today expects the Permian Basin’s crude oil production to more than double its 2017 record of 2.5 MMb/d to 5.4 MMb/d by 2023. This level of production would elevate the U.S. to a power exporter status that rivals Saudi Arabia, with total U.S.