ExxonMobil raised its 2021 production estimate in Permian Basin because of operating efficiencies that are reducing costs for well drilling and completions and improving recovery rates. ExxonMobil raised 2021 Permian output to 410,000 to 430,000 boed from 400,000 boed. Darren Woods, CEO, said April 30 that 2020 capital spending was down 35 percent despite technology investments that resulted in an additional 100,000 boed compared to 2019 and an increase of 60,000 boed in 2021Q1 compared to 2020Q1.