Exxon Sees 5.5M Bpd by 2030 on Permian, Guyana


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- ExxonMobil expects its total upstream production to 
reach 5.5 million bpd by 2030, the oil major said in an updated corporate 
outlook Tuesday (12/9) that set a new $25 billion target in earnings growth by 
end of the decade -- up by $5 billion from before.

   The company said its "advantaged assets" -- the Permian, Guyana, and LNG -- 
will remain central to growth. By 2030, production from these assets is 
expected to reach nearly 3.7 million oil-equivalent barrels per day, 
representing approximately 65% of total volumes. This concentration on 
high-return regions drives both volume increases and profitability, ExxonMobil 
said.

   The Permian Basin itself is expected to double production to 2.5 million bpd 
by 2030, a projection supported by the acquisition of Pioneer Natural 
Resources. This integration is forecast to yield $4 billion more annually in 
synergies, making up the bulk of the higher earnings forecast, according to the 
company.




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