One result of recent consolidation activity is larger companies that own more producing assets, the EIA said.
If both Exxon and Chevron deals conclude successfully, ExxonMobil could become the largest crude oil and natural gas liquids (NGL) producer in the United States with 1.3 million barrels per day (bpd), or nearly 7% of total U.S. production, ahead of the current leader in output, Chevron, per data from Evaluate Energy cited by the EIA.
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“Barring any other large production or asset ownership changes, recent M&A could make ExxonMobil the largest crude oil and NGL producer in the United States,” the administration said.
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