Permian Basin

IEEFA Research

IEEFA U.S.: LNG newcomer Tellurian asks investors to gamble on Driftwood project

IEEFA U.S.: LNG newcomer Tellurian asks investors to gamble on Driftwood project

Tellurian’s history, finances and new LNG deals raise questions about profitability

August 31, 2021 (IEEFA) — At first glance, Tellurian Inc.’s proposed Driftwood liquefied natural gas (LNG) project looks like a cause for optimism for the U.S. LNG market after a dismal 2020 saw demand and prices plummet while the COVID-19 pandemic raged. However, a closer look at Tellurian’s history, finances and structure of its newly […]

IEEFA: Despite strong Q2, ExxonMobil upstream continues to underwhelm

IEEFA: Despite strong Q2, ExxonMobil upstream continues to underwhelm

Exxon’s U.S. upstream division makes up little ground in the Permian Basin

August 9, 2021 (IEEFA) – ExxonMobil’s U.S. upstream operations have yet to regain their footing after a decade of turmoil. While the second quarter of 2021 was the company’s best in years, ExxonMobil has invested $61.5 billion on U.S. upstream capital projects since 2013, only to report $5.3 billion in cumulative losses. These losses may […]

IEEFA U.S.: Texas confronts decline in oil and gas industry

IEEFA U.S.: Texas confronts decline in oil and gas industry

Analysis of long-term trends indicates slower growth, fewer jobs and lower tax contributions

July 28, 2021 (IEEFA) ⎼ Texas policymakers, regulators and public opinion have long held that “what’s good for oil is good for Texas.” But Texas’s economy has become more broad-based and the oil and gas sector’s proportionate contribution has declined. State leaders face a new set of facts on the ground about the future of […]

IEEFA U.S.: ExxonMobil touts Permian Basin success but achieves mixed results

IEEFA U.S.: ExxonMobil touts Permian Basin success but achieves mixed results

Data suggests that ExxonMobil is underperforming in the Permian Basin

June 9, 2021 (IEEFA) – ExxonMobil’s claims that its Permian Basin oil and gas reserves are world-class will need the immediate attention of the new board, according to a new analysis by the Institute for Energy Economics and Financial Analysis (IEEFA). In recent investor presentations, ExxonMobil has highlighted the superior performance of its oil wells […]

More News and Commentary

ExxonMobil plans sale of Appalachian shale gas properties

Reuters: Exxon Mobil (XOM.N) on Tuesday launched the sale of shale gas properties stretching across 27,000 acres in the Appalachian basin of Ohio, the company confirmed, part of an ongoing divestiture of U.S. assets. The top U.S. oil producer is marketing 61 wells that last year produced around 81 million cubic feet per day equivalent […]

January 12, 2022 Read More →

IEEFA: Calls are mounting for a new direction and new chief executive for ExxonMobil

ExxonMobil’s lagging performance points to need for new leadership, new direction

Last week, columnist Chris Tomlinson of the Houston Chronicle contrasted solid shareholder support for a new direction at ExxonMobil with the discordant pronouncements and leadership of the company’s CEO. In the same week, The Coalition United for a Responsible Exxon (CURE)—a group of investors with $2.4 trillion in assets—provided a comprehensive review of the company […]

December 16, 2021 Read More →

ExxonMobil plans to reach net-zero emissions in Permian Basin by 2030

Reuters: Oil major Exxon Mobil Corp (XOM.N) said on Monday it aims to achieve net zero greenhouse gas (GHG) emissions from working assets in the U.S. Permian basin by 2030, expanding its emission-reduction plans for unconventional operations in New Mexico and Texas. Investors and governments have been increasing pressure on energy companies to fight against […]

December 7, 2021 Read More →
IEEFA U.S.: Pioneer, other independents top supermajor production in Permian Basin
and

IEEFA U.S.: Pioneer, other independents top supermajor production in Permian Basin

ExxonMobil, Chevron lag Permian independent production despite claims of leadership

November 15, 2021 (IEEFA)—Although the Permian Basin is an important upstream growth target for Chevron and ExxonMobil, independent operators are the dominant producers in the area, according to an analysis by the Institute for Energy Economics and Financial Analysis (IEEFA). While ExxonMobil and Chevron have portrayed themselves as leaders in the Permian, the IEEFA analysis […]

and November 22, 2021 Read More →

Shell announces plan to move headquarters from Netherlands to UK

Wall Street Journal ($): Royal Dutch Shell PLC plans to consolidate its dual British and Dutch structure and relocate its headquarters to London, a move it said would help facilitate returns to shareholders and make it simpler to change up its portfolio of assets. The oil giant said Monday that bringing an end to its […]

November 16, 2021 Read More →

Shell sells Permian interests to ConocoPhillips for $9.5 billion

Texas Tribune: Energy giant Royal Dutch Shell sold its oil and gas business in the Permian Basin, the country’s largest oilfield, to ConocoPhillips for $9.5 billion cash on Monday. The deal is a major move for Shell, which produces more than 175,000 barrels of oil per day in the Permian Basin, as it faces pressure […]

September 21, 2021 Read More →

New U.S. solar capacity additions dip slightly but demand still strong

S&P Capital IQ ($): Solar power capacity additions in the second quarter of 2021 dipped compared to the year-ago period as developers encountered supply-side headwinds. However, demand remained strong, with a robust pipeline of projects totaling 17,428 MW under construction. Developers put into service 1,968 MW of utility-scale solar power capacity from April to June, […]

September 7, 2021 Read More →
IEEFA U.S.: LNG newcomer Tellurian asks investors to gamble on Driftwood project
, and

IEEFA U.S.: LNG newcomer Tellurian asks investors to gamble on Driftwood project

Tellurian’s history, finances and new LNG deals raise questions about profitability

August 31, 2021 (IEEFA) — At first glance, Tellurian Inc.’s proposed Driftwood liquefied natural gas (LNG) project looks like a cause for optimism for the U.S. LNG market after a dismal 2020 saw demand and prices plummet while the COVID-19 pandemic raged. However, a closer look at Tellurian’s history, finances and structure of its newly […]

Major oil companies flaring Permian gas without required permits

Reuters: Oil producers such as Exxon Mobil (XOM.N) and Royal Dutch Shell (RDSa.L) are burning off gas in the largest oil field in the United States without required Texas state permits, the environmental group Earthworks said in a report on Thursday. Energy producers flare gas, an unwanted by-product of oil extraction, when they cannot transport […]

August 20, 2021 Read More →

Controversial ExxonMobil Guyana project faces potential safety disaster

The Guardian: ExxonMobil’s huge new Guyana project faces charges of a disregard for safety from experts who claim the company has failed to adequately prepare for possible disaster, the Guardian and Floodlight have found. Exxon has been extracting oil from Liza 1, an ultra-deepwater drilling operation, since 2019 – part of an expansive project spanning […]

August 18, 2021 Read More →