exxon daily production million barrels per day

The agreement will allow Exxon to boost daily output in the Permian region to the equivalent of 2 million barrels in 2027, or more than half of the oil titan’s current worldwide production. If finalized, the combination will make Exxon far and away the biggest player in the Permian Basin of Texas and New Mexico and bring the company’s daily production to nearly 4.5 million barrels of oil equivalent a day - 50 per cent more than the next biggest supermajor.Įxxon shares dropped 1.6 per cent at 6:58 a.m. 5, when reports of the impending deal began to swirl.

The transaction amounts to an 18 per cent premium for Pioneer investors, based on the closing price on Oct. in 1999 and is the world’s largest corporate takeover announced this year.

The agreement paves the way for Exxon’s biggest acquisition since merging with Mobil Corp. for US$59.5 billion, the supermajor’s largest takeover in more than two decades, as it seeks to become the dominant producer of shale oil.Įxxon will pay $253 per share in an all-stock deal, according to a statement on Wednesday.

agreed to buy Pioneer Natural Resources Co.

Exxon daily production million barrels per day