Drilling in the Permian has plateaued in recent months, but production is still growing. Crucially, Permian production is expected to continue to grow for years to come, but the region is increasingly dominated by the oil majors rather than mom-and-pop shale companies. Chevron and ExxonMobil both held investor meetings on Monday, where both oil majors detailed aggressive drilling strategies in the Permian. Chevron expects to more than double output in the Permian to 900,000 bpd over the next five years, a 40 percent increase from its previous plan. ExxonMobil, for its part, expects to top 1 million barrels per day in the Permian in that same timeframe. The presentations from both companies illustrate a growing trend in the Permian. Small and medium-sized shale companies were the ones to really develop the Permian in the early years. The oil majors were late to both the shale party in general, as […]