Spring, Texas-based ExxonMobil said Friday its third quarter net production of 4.769 million boed included record output from Permian Basin and Guyana. In the Permian, ExxonMobil set a production record of nearly 1.7 million boed while continuing to expand the use of proprietary technologies such as its lightweight proppant that improves well recovery by up to 20 percent.
In Friday’s announcement of third quarter earnings, the company said it acquired more than 80,000 net acres in Permian Basin from Sinochem Petroleum to enhance future growth. Darren Woods, chairman and CEO, said, “The transaction provides opportunities to further deploy the company’s innovative technology leading to greater returns… We’ve now started 8 of our 10 key 2025 projects with the remaining two on track. No one else in our industry is executing at this scale with this level of innovation or delivering this kind of value.”
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