Exxon to boost oil production despite global slowdown

Improving well productivity helps U.S. oil companies increase production at a lower cost

Increasing well productivity, primarily due to advances in horizontal drilling and hydraulic fracturing technologies, has been a key driver in U.S. crude oil production growth.

Suncor to increase oil and gas output by up to five per cent in 2025

CALGARY — Suncor Energy Inc. says it will increase oil output next year by up to five per cent and lower costs from its oilsands assets.

A look at ExxonMobil’s ambitious goals through 2030

ExxonMobil plans to grow its earnings at a compound annual growth rate of 10% and boost spending on capital projects through 2030, The Wall Street Journal reports.  The oil and gas behemoth laid out its extensive six-year strategic plan on Wednesday that targets an additional $20 billion in potential earnings growth and $30 billion in cash flow potential. The Texas-based company, which maintains facilities in Baton Rouge, says it also aims to un…

Energy from gas-flaring a $16 billion opportunity — PermianChain exec

The post Energy from gas-flaring a $16 billion opportunity — PermianChain exec appeared first on Daily Truth Report • DailyTruthReport.com.

Exxon 'Getting Into the Power Business'

Exxon Mobil currently runs gas power plants in Texas, Louisiana, and Illinois to power its own operations. The plant it's planning next will be its first to supply electricity to others: specifically, data centers, and soon. The New York Times reports America's biggest oil and gas company is "get[ting] into...

Exxon to Increase Oil Production by 18% By 2030

U.S. oil and gas giant Exxon Mobil Corp. (NYSE:XOM) has unveiled plans to increase spending to $28-$33 billion annually with a goal of lifting oil and gas output by 18% by 2030. Exxon has set a target to increase overall oil and gas output to 5.4 million bpd by 2030, up about 18% from 4.58 million bpd currently. According to Exxon CEO Darren Woods, the increased project spending is expected "to generate returns of more than 30% over the life of …