XOM has a target of growing its Permian production to 2.5 MMboe/d by 2030. It is currently producing 1.7 MMboe/d, following the 2024 acquisition of Pioneer Natural Resources, which increased Permian production to approximately 1.3 MMboe/d. What will it take for the company to achieve its ambitious 2030 target?
Our analysis examines ExxonMobil’s inventory depth and models multiple Permian development scenarios to assess the path toward its 2030 production target. While the company has a long runway of inventory, our findings suggest it will need to further increase development activity to achieve that goal.
This report is also featured in the latest episode of Top of the Barrel, where the Novi Intelligence team discusses ExxonMobil’s Permian outlook, inventory depth, and what it will take to achieve its ambitious 2030 production target. Watch the episode here.
The full ExxonMobil Corporation corporate report is now available on the Novi Intelligence portal
Our Q1 2026 corporate report provides a comprehensive assessment of ExxonMobil’s Lower 48 portfolio, including detailed inventory modeling, Permian development scenarios, asset valuations, production forecasts, and the role of its non-Permian assets in the company’s long-term growth strategy. https://intelligence.novilabs.com/login/
