Texas Pacific Land Corporation (TPL)

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Exxon Mobil will triple production in the Permian basin, the hottest US shale oil field, by 2025

· Exxon Mobil aims to triple its production of oil and chemical feedstocks in the Permian Basin to 600,000 barrels of oil equivalent by 2025.

· The Permian has been the epicenter of the rebound in U.S. drilling in recent years following a protracted price slump.

· Exxon will also build out infrastructure to bring its crude oil and products to market.

Exxon Mobil on Tuesday said it will triple its production of oil and chemical feedstocks in one of the most productive shale basins in the United States and expand infrastructure to bring those products to market by 2025.

The announcement came one day after the world's largest publicly listed oil company said it would ratchet up its U.S. investments to $50 billion over the next five years, in part due to the benefit of recent U.S. tax cuts.

[....]

Source:
https://www.cnbc.com/amp/2018/01/30/exxon-mobil-will-triple-production-in-the-permian-basin-by-2025.html

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