ExxonMobil Hits 1.8M boe/d in Permian, Targets 2.5M boe/d by 2030+
ExxonMobil reached a record 1.8 million oil-equivalent barrels per day in the Permian Basin during Q4, driven by a new lightweight proppant deployed in 25% of wells last year. The company plans to extend proppant use to 50% of new wells in 2026 and boost Permian output to 2.5 million boe/d beyond 2030.
1. Permian Record Production
In the fourth quarter ExxonMobil achieved a Permian Basin output of 1.8 million oil-equivalent barrels per day, marking its highest quarterly production to date. This milestone was supported by the rollout of a lightweight proppant designed to penetrate deeper into hydraulic fractures and enhance recovery efficiency.
2. Proppant Deployment Plan
After deploying the new proppant in 25% of wells in 2025, ExxonMobil intends to use it in half of all new Permian wells this year. Management cites improved fracture conductivity and lower emissions intensity as key benefits that underpin this accelerated adoption.
3. Long-Term Growth Target
ExxonMobil does not foresee a near-term peak in its Permian production, aiming instead to grow volumes to 2.5 million boe/d beyond 2030. The plan leverages a deep inventory of high-quality acreage and ongoing technological innovation to sustain low-cost, high-margin output.
4. Shareholder Value Implications
Continued production growth and efficiency gains in the Permian are expected to bolster ExxonMobil’s free cash flow and return on invested capital. Investors may view the expanded use of advanced fracturing technologies and clear volume targets as catalysts for multiple expansion.