ExxonMobil continues to increase Permian Basin acreage

ExxonMobil has acquired companies previously owned by the Bass family of Fort Worth, Texas, more than doubling its Permian Basin resource to 6 billion oil-equivalent barrels.

Article Jan. 1, 2017

ExxonMobil continues to increase Permian Basin acreage

The assets acquired in February 2017 include an estimated resource of 3.4 billion oil-equivalent barrels in New Mexico’s Delaware Basin, a highly prolific oil-prone section of the Permian Basin.

ExxonMobil Chairman and CEO Darren Woods said the high-quality properties are a major addition to ExxonMobil’s XTO Energy-managed unconventional liquids portfolio.

“This acquisition strengthens ExxonMobil’s significant presence in the dominant U.S. growth area for onshore oil production,” Woods said. “This investment gives us an exceptional Delaware Basin position in a proven multistacked play that can generate attractive returns in a low-price environment.”

The company also added another 22,000 acres to its Permian Basin portfolio through a series of acquisitions and acreage trades completed throughout mid-2017. This new acreage is located in the highly prolific, stacked oil pay zones of the Delaware and Midland Basins. 

ExxonMobil is currently producing more than 165,000 net oil-equivalent barrels per day across its Permian Basin leasehold. The company is one of the most active operators in the Permian Basin, and recently drilled its first 12,500-foot horizontal lateral length well in the Delaware Basin.

Panoramic photo of the Wolfcamp drill site at sunset.
Photo — XTO operations at Wolfcamp drill site.

Related content

Port Allen worker on the Jet Oil production line.

Mobil Jet Oil takes off from new Port Allen lubricants plant

ExxonMobil’s recently opened Port Allen, Louisiana, aviation lubricants plant has achieved full production for the entire line of Mobil Jet™ engine lubricants and is now shipping product worldwide.

the Lamp Article Jan. 1, 2017

Hurricane Harvey relief efforts in Texas.

In their own words

Relentless winds. Non-stop rain. Epic flooding and destruction. Hurricane Harvey brought it all. ExxonMobil employees responded with resolve, perseverance and selfless inspiration. Here are a few of their stories.

the Lamp Article Jan. 1, 2017

ExxonMobil workers Harro van de Rhee and Rolando Garcia at Rotterdamn facility.

Rotterdam refinery harnesses technology and opportunity

New unit improves capabilities, creates new marketing channels and positions the Dutch plant for the future.

the Lamp Article Jan. 1, 2017

Panoramic photo of the Wolfcamp drill site at sunset.

ExxonMobil continues to increase Permian Basin acreage

ExxonMobil has acquired companies previously owned by the Bass family of Fort Worth, Texas, more than doubling its Permian Basin resource to 6 billion oil-equivalent barrels.

the Lamp Article Jan. 1, 2017

Professional portrait of Exxon Mobil Corporation Director Susan Avery.

For climate and energy solutions, it's a matter of scale

Dr. Susan Avery, noted atmospheric physicist, brings her pioneering career to the ExxonMobil board.

the Lamp Article Jan. 1, 2017

Liza Phase 1 team members on-site.

Excitement and pride surround Guyana development

The Liza discovery is among the largest in the past decade.

the Lamp Article Jan. 1, 2017