Exxon Mobil completed its 2024 acquisition of Pioneer Natural Resources, boosting its Permian Basin net acreage from roughly 700,000 to over 1.4 million acres. This expansion solidifies its position among the region’s largest operators across both Delaware and Midland sub-basins, accessing high-quality drilling locations and reserves.

The company plans to elevate Permian production to 2 million barrels of oil equivalent per day by 2027, up from current levels. Exxon is integrating advanced drilling and completion techniques, alongside data analytics and AI-driven well design, to reduce cycle times, lower unit costs and enhance overall margins.