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XOM - Exxon In The Permian: High Costs And Poor Results May Drag The Stock Down
Exxon Mobil Corporation
Exxon Mobil (XOM) recently held an analyst day, at which it announced significantly increased Permian basin drilling activity and expected oil production growth by 2025. The increased forecast can be seen in the below slide from its presentation:
As an investor in upstream oil and gas company shares, this is intriguing, and it should be concerning for Exxon shareholders. When I saw this chart, I immediately thought of many Permian well productivity tables I've seen in various research reports and in articles on websites such as seeking alpha. Here is one