The Annual Offshore Oil & Gas Event
logo

The 25thBeijing International Offshore Oil & Gas Exhibition

ufi

BEIJING,CHINA

March 26-28,2025

LOCATION :Home> News > Industry News

As shale drillers stumble, Big Oil says it can do Permian better

Pubdate:2019-08-06 09:55 Source:liyanping Click:

HOUSTON (Bloomberg) - Exxon Mobil and Chevron aren’t fazed by the drilling mistakes and funding hurdles smaller shale producers are running into in the Permian basin.

The North American supermajors said Friday their strategy for the prolific oil field spares them from the slip-ups that sent shares of one of the largest independent Permian producers down over 20% Thursday. Both oil giants reported surging output from the area over the second quarter and stuck to their plans to pour investment into the shale basin.

Exxon and Chevron were late to the game in the Permian. While they’ve recently unveiled plans to eventually produce almost 2 MMboed from the West Texas and New Mexico basin, the area was long the home of wildcatters and independent explorers.

Those exploration and production companies are now facing mounting pressure from investors to cut spending and deliver returns, which for many means slowing down and selling some assets. Meanwhile, the supermajors have the means to come in with multibillion-dollar investments and ambitious growth plans.

“The positions that Exxon and Chevron have relative to a lot of E&Ps -- they’re multiples of the size,” said Devin McDermott, an analyst at Morgan Stanley. “When you have decades of running room, you don’t really have to worry about tighter spacing.”

Concho Resources long considered one of the Permian’s premier operators, was forced to scale back activity after drilling almost two dozen wells too closely together. That move by the Midland, Texas-based producer spooked investors across the industry, with Evercore ISI predicting the “carnage” would have a lasting impact.

Concho’s problem with well spacing highlights the challenges of fracking so-called child wells: Too close to the “parent,” and output is less prolific; too far apart, and companies risk leaving oil in the ground.

Exxon and Chevron say they aren’t as exposed to those problems. Because of their size relative to smaller independent producers, the oil giants are able to lock up acreage, giving them room to be more conservative in their well spacing.

主站蜘蛛池模板: www.精品视频| 四虎永久地址4hu2019| 亚洲伊人久久大香线蕉结合| av一本久道久久综合久久鬼色| 精品国产柚木在线观看| 精品综合久久久久久888蜜芽 | 精品丝袜国产自在线拍亚洲 | 日韩精品人妻系列无码av东京| 国产精品成人亚洲| 亚洲国产一区二区三区在线观看| 中文亚洲av片不卡在线观看| 色综合天天综合| 成年男女男精品免费视频网站| 四虎成人免费影院网址| 中国speakingathome宾馆学生| 精品国产精品久久一区免费式| 婷婷激情五月综合| 亚洲色欲久久久综合网东京热| 99久久国产免费-99久久国产免费| 色综合天天综合网国产成人网| 日产精品卡一卡2卡三卡乱码工厂| 国产AV一区二区三区无码野战 | 国产午夜福利在线观看视频| 亚洲欧洲高清有无| 两个人看的www免费视频| 校园春色另类小说| 国产在线视频一区二区三区| 亚洲人成影院在线观看| 黄页在线播放网址| 欧美一卡2卡3卡四卡海外精品| 国产日产成人免费视频在线观看| 久久精品影院永久网址| 色偷偷8888欧美精品久久| 宅男66lu国产在线观看| 亚洲精品欧美精品国产精品| a级国产乱理伦片在线观看| 欧美综合第一页| 在体育课被老师做了一节课视频| 亚洲日本视频在线观看| 狠狠色香婷婷久久亚洲精品| 无遮挡h肉动漫在线观看日本|