ExxonMobil keeps expanding in the Permian Basin

Exxon Mobil Corporation today announced it has added 89 km² to its Permian Basin portfolio since May through a series of acquisitions and acreage trades. Located in the stacked oil pay zones of the Delaware and Midland Basins, the new acreage adds to the company’s existing 6 billion barrels of oil equivalent Permian Basin resource base.
This expansion comes after the acquisition by ExxonMobil of more than 100 km² in the Delaware Basin from companies owned by the Bass family of Fort Worth. In the Midland Basin, the company has doubled its core operated area to more than 50 km² through multiple transactions over the last few years.