Author Topic: Exxon Mobil plans to triple Permian production, invest $2 billion in west Texas  (Read 893 times)

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Offline thackney

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Exxon Mobil plans to triple Permian production, invest $2 billion in west Texas
http://www.chron.com/business/energy/article/Exxon-Mobil-plans-to-triple-Permian-production-12536142.php
January 30, 2018

Exxon Mobil said Tuesday it plans to triple its oil and gas production in west Texas' booming Permian Basin as part of its heightened emphasis on U.S. growth.

The country's largest energy company said it aims to grow its Permian production to 600,000 barrels a day by 2025 and also spend more than $2 billion on transportation and terminal upgrades in west Texas, including expanding its crude oil terminal in Wink, Texas.

Exxon Mobil is beginning to break out specifics of its spending plans after announcing Monday that it wants to invest $50 billion in the U.S. during the next five years, in part because of extra financial benefits gained from the new U.S. tax law....

...Exxon Mobil is planning to spend about $20 billion on refining, petrochemical and liquefied natural gas growth along the Texas and Louisiana Gulf Coast. Much of that work is being completed now, while some projects are awaiting the final go ahead.
« Last Edit: January 30, 2018, 06:55:35 pm by thackney »
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Offline IsailedawayfromFR

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Monies spent here will at the expense of Exploration and Development in foreign lands, so it is great for America.
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington

Offline truth_seeker

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Monies spent here will at the expense of Exploration and Development in foreign lands, so it is great for America.

You mean 'at the expense' of "s-hole countries?"
"God must love the common man, he made so many of them.�  Abe Lincoln

Offline IsailedawayfromFR

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You mean 'at the expense' of "s-hole countries?"
Yes, for the most part.

No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington