Quarterly report highlights the plans of large U.S. oil companies to expand shale oil production

Foreign news agency news on October 29, Exxon Mobil (Exxon Mobil Corp.
) and Chevron (Chevron Corp.
) released quarterly reports are very eye-catching.
Plan
.


As a latecomer to the shale oil field in western Texas, the above two companies cut shale oil production and reduced drilling last year due to declining oil demand
.
Company executives said they may soon add two rigs each and increase production
.


ExxonMobil’s nine drilling rigs in the Permian Basin produced approximately 500,000 barrels per day of oil and natural gas last quarter
.


The company's CEO Darren Woods said that based on the latest oil well data, the number of rigs may increase by two
.
The company's output in the Permian Basin in the third quarter rose by about 30% from the previous month
.


Pierre Breber, Chevron's chief financial officer, said that Chevron plans to add two drilling rigs and two workers this quarter to complete the new well in the Permian
.


Chevron said that its production in the Permian may increase from 600,000 barrels per day to 1 million barrels per day
.