ExxonMobil to benefit from US oil and gas strategy
The US is rewriting its oil and gas strategy, aiming to expand domestic production.
ExxonMobil is at the center of this policy shift, having more than doubled its Permian Basin production.
The company acquired Pioneer Natural Resources for $60 billion, gaining 1.4 million net acres of drilling inventory and an estimated 16 billion barrels of oil equivalent resource.
By 2030, ExxonMobil projects $25 billion in incremental earnings and $145 billion in surplus cash at an average Brent crude oil price of $65 per barrel.