Highlights CEO details decarbonization plans after climate pushback Woods takes cautious tone, saying projects will take time ExxonMobil pumped 400,000 b/d of oil equivalent from the Permian Basin in Q2 021, which it aims to increase by 40,000 boe/d in Q3 through continued operating efficiencies, the company said July 30. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Jack Williams, senior vice president, said the company’s current eight rigs are drilling the same lateral length that it took 25 rigs two years ago. “Completions are improving, too,” Williams said during a Q2 earnings call. “Our frac rates are around 50% faster. This has resulted in a reduction in drilling and completion costs of more than 40%.” Williams said the producer remains focused on capital efficiency, delivering free cash flow “across a broad range of price scenarios” and making double-digits returns when oil prices […]