The Permian Basin is a 90,000-square-mile mineral reservoir in West Texas and southeast New Mexico that was discovered in the early 1920s. Today, there are more drilling rigs in the Permian Basin than anywhere else in the world, and production in the Permian currently accounts for about one-fourth of the total oil output of the United States.
XTO Energy is one of the most active operators in the Permian Basin. XTO has about 500 employees in the Permian Basin, with offices in Midland, Texas, Coyanosa, Texas, and Carlsbad, N.M. Since 2014, we have grown our Permian portfolio to a high-quality resource base of almost 10 billion barrels today. By 2025, we plan to increase our production in the basin to 600,000 barrels per day, representing a five-fold increase in our unconventional Permian production.
The increased activity in the Permian Basin today is underpinned by innovation. Recent advances in horizontal drilling and hydraulic fracturing have opened a wealth of new opportunities and have made the Permian incredibly attractive in ExxonMobil’s global portfolio of oil and gas resources.
Since 2014, XTO has added more than 300,000 acres in the core of the Permian Basin.
XTO plans to triple total daily production to 600,000 oil-equivalent barrels by 2025 from our operations in the Permian Basin in West Texas and New Mexico.
To help achieve our growth targets, XTO horizontal rig count in the Permian is expected to increase 65 percent over the next several years.
XTO has about 500 employees in the Permian Basin.
In 2017, ExxonMobil and XTO Energy contributed nearly $35 million to higher education, medical care, environmental research and arts and civic organizations in Texas and New Mexico.
Safety and environmental responsibility