ExxonMobil’s updated corporate plan forecasts a $14 billion increase in earnings by 2030, focusing on ramping up output in the Permian Basin and Guyana. The company is innovating shale extraction with “stackable technologies” to double resource recovery in the Permian Basin, integrating over 40 proprietary technologies for cumulative efficiencies.

The Permian Crude Venture showcases Exxon’s stacked integration strategy, driven by the $60 billion acquisition of Pioneer Natural Resources. Exxon’s petcoke proppant, a lightweight material made from refinery petroleum coke, is boosting oil recovery in the Permian Basin by up to 20%, offering a competitive advantage over sand-only completions.

Exxon’s well-spacing optimization combines data analytics and integrated modeling for optimal resource recovery. The company’s manufacturing-style execution in the Permian Basin includes multipad, multizone drilling to maximize efficiency. Cost-per-foot and cost-per-barrel reductions aim to lower costs to $30 per barrel by 2030, with over $14 billion in cost savings achieved since 2019.

Read more at Yahoo Finance: ExxonMobil Bets on Layered Tech Systems to Reinvent Shale Economics