Chevron sees Permian output at 900,000 boe/d by end-2023 ExxonMobil sees more than 1 million boe/d as early as 2024 Chevron US Gulf operating costs drop to half of 2014 levels Houston — Chevron and ExxonMobil separately outlined Permian Basin production aspirations Tuesday that would take their outputs near or over 1 million b/d of oil equivalent each by the early-to-mid 2020s, as they continue to tamp down costs and streamline their operations in West Texas/New Mexico play. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Chevron, during its annual Security Analyst meeting in New York, said its Permian unconventional net oil-equivalent production is now expected to reach 600,000 b/d of oil equivalents by the end of 2020 and 900,000 boe/d by the end of 2023. The company produced 377,000 boe/d from the basin in Q4, up 84% from a year ago. […]