Permian Basin Archives - Panorama Insurance Brokers

Exxon’s Guyana, Permian Basin Assets worth more than its market capitalization

By The Value Portfolio (Published on Seeking Alpha) Exxon Mobil (NYSE: XOM) is one of the largest publicly traded oil companies in the world. The company has recovered admirably from its COVID-19 lows towards a market capitalization of ~$260 billion. However, it’s still ~40% below where it was below the mid-2014 oil collapse. As we’ll see throughout… Read More

Guyana, Permian capital-intensive projects put Exxon at higher revenue risk than peers – Rystad Energy

Norway-based Rystad Energy has quantified the long-term risk of the change to oil prices and to the net present value (NPV) of portfolios for some of the global oil and gas companies whose resilience have come under pressure in recent years and accelerated by the pandemic. This trend follows the back-to-back downturns that exploration and… Read More

Exxon says claims relating to valuation of Permian Basin assets ‘demonstrably false’

U.S oil major ExxonMobil said on Friday that there is no basis for claims made by an alleged whistleblower, and reported by The Wall Street Journal, regarding the valuation of its assets in the Permian Basin. The Journal reported on Friday that the Securities and Exchange Commission in the U.S. launched an investigation of Exxon… Read More

ExxonMobil lowers 2020 production target, slows Permian growth

(S&P Global) ExxonMobil on Thursday lowered its 2020 total oil and gas production estimate about 7% to 3.9 million boe/d, which includes slowing operations slightly in the Permian Basin, based on both lower oil prices. In the West Texas/New Mexico basin, the company will also drop the number of rigs going forward, although efficiencies will… Read More

Permian operators must drill more wells to maintain current production levels – IHS Markit

Oil and gas operators in the Permian Basin, the most prolific hydrocarbon resource basin in North America, will have to drill substantially more wells just to maintain current production levels and even more to grow production, owing to the high level of recent growth, according to an analysis by IHS Markit. Data from the new… Read More