Recent consolidation activity in the energy sector has led to the emergence of larger companies with increased ownership of producing assets, as highlighted by the Energy Information Administration.
According to data cited by the EIA from Evaluate Energy, if both the proposed deals involving Exxon and Chevron are finalized successfully, ExxonMobil could potentially become the largest producer of crude oil and natural gas liquids in the United States. The company’s projected output could reach approximately 1.3 million barrels per day, constituting nearly 7% of the total U.S. production. This would position ExxonMobil ahead of the current leader in production, Chevron.
The potential consolidation and expansion of ExxonMobil’s production capacity underscore the ongoing shifts and dynamics within the energy industry, with major players vying for strategic positioning and market dominance.
For more information visit www.corporate.exxonmobil.com
