Exxon Mobile Will Increase Production in the Permian Basin Area
Exxon Mobile says it will increase oil and chemical production in the Permian Basin area which in turn will provide more jobs to the area.
According to NewsWest 9, the company says it plans to increase that production to triple what they have been producing in the past.
They also stated that means they will be producing 600,000 barrels of oil equivalent per day.
Exxon said they believe crude oil production will increase fivefold in the Permian Basin after they doubled their holdings in the area last year with over $5 Billion in acquisitions of other companies.
Exxon Mobile also plan to spend $2 Billion to expand infrastructure to bring oil to market which includes expanding the Wink Crude Oil Terminal that they purchased in October of 2017.
This means there would be an increase of jobs and people coming to the area in the next year or so.