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Dan EberhartEnergy
A pump jack stands at dusk in the Permian Basin area in Texas, U.S. Photographer: Angus Mordant/Bloomberg© 2018 Bloomberg Finance LP

A pump jack stands at dusk in the Permian Basin area in Texas, U.S. Photographer: Angus Mordant/Bloomberg© 2018 Bloomberg Finance LP

Conventional wisdom used to be that as the major integrated oil companies acquired smaller independents, production growth in the Permian Basin would slow. The same wisdom held that regardless which companies were operating in the Permian and other shale plays, domestic U.S. production would peak in the mid-2020s and then begin to decline.

It’s time to reassess those assumptions.

Bullish projections this week from Exxon Mobil and Chevron on their separate operations in the Permian are rewriting the conventional wisdom about that basins potential. Read more…