CLAIM #63897 · Exxon Mobil Corp (XOM) · 2021Q3 earnings call · Oct 29, 2021 · due Oct 29, 2022
“my expectation is we'll continue to see that manifest itself in better production and better capital efficiency and that's those would be the three pieces of the equation that I think are resulting in the performance that you're seeing.”
Darren Woods · CEO
In context
“elop that we could do that in a very cost-efficient way and that is now paying off. As you look at what we're doing in the Permian, it is much more of a manufacturing mindset and very focused on efficiencies. And you're seeing that in the results and some of the metrics that are out there. And then the third area is, and it continues to, I think yield benefits is, thinking about how we bring our fundamental science and technology capabilities from the broader organization, from some -- from our corporate research group and bring that into play here in the Permian and then the unconventional space. And that is paying off as well, we've gotten I think some very positive results from some of our technologies that we've brought into the field. We're continuing to try our new technology. So, my expectation is we'll continue to see that manifest itself in better production and better capital efficiency and that's those would be the three pieces of the equation that I think are resulting in the performance that you're seeing. With respect to the overall activity, what we're trying to do is make sure that we stay within the boundaries of what I just talked about and not as we maximize what we can do within that space, making sure we don't get ahead of the technology work that we're doing and making sure we don't get outside those core doors and some of those optimized areas of production. And that's the balance and the debate that we're striking. And we may see a couple more rigs come on here as we go forward in staying within that same philosophy. I wouldn't see us starting to venture out into other areas that are outside, that optimize space and plan until we've done the work to optimize plans around that next tier of opportunities out there. Devin Mc Dermott : Great. Well, congrats on the great results. Tha”
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SEC filings for XOM ↗ · Claim quote is verbatim from the 2021Q3 earnings call.