ExxonMobil plans to increase its Permian basin production to 1 million boe/d by as early as 2024, which would be an 80% increase of its current production in West Texas and southeastern New Mexico. Other companies—including Chevron, BP, Shell, and Occidental Petroleum—also have discussed increasing their Permian activity. Chevron said the Permian accounts for much of its 2019 exploration and production budget.

Source: News