ExxonMobil is reportedly evaluating a potential acquisition of Woodside Energy to expand its LNG business and strengthen its position in key Asian markets, reflecting growing confidence in long-term global natural gas demand. For U.S. shale, the move would support future drilling activity by increasing LNG export capacity, creating stronger demand for natural gas from the Permian, Haynesville, and Appalachian basins while benefiting producers, midstream companies, and oilfield service providers.

Exxon Mobil shareholders approved the company’s move to redomicile to Texas, ending its 144-year incorporation history tied to New Jersey and Standard Oil. The company cited Texas’ strong support for the oil and gas industry, favorable legal environment, and growing operational presence in the state.

Exxon has permitted a Midland Basin manufacturing-style horizontal development program for block 36T2N Section 30 focused on repeatable Spraberry shale exploitation using centralized multi-well pads, standardized drilling geometries, uniform depth targeting, and batch operational execution to maximize drilling efficiency and long-term capital productivity.

ExxonMobil is driving Permian production growth by improving well performance rather than increasing drilling activity, targeting a doubling of output to 2.5 million bpd by 2030. A key driver is advanced lightweight proppant, delivering up to 20% higher recovery per well and enabling significant efficiency gains across its Midland- and Delaware-focused operations.

ExxonMobil expects a ~6% drop in Q1 2026 production due to disruptions at key assets in Qatar and the UAE, highlighting the material impact of Middle East instability on its operations. While higher oil and gas prices could boost earnings by up to $2.9B, this will be offset by trading-related timing effects that may reduce profits by as much as $4.9B.

ExxonMobil Chief Economist Tyler Goodspeed warned that markets may be underestimating the likelihood that the Strait of Hormuz could remain effectively closed for longer than expected amid rising geopolitical tensions. He emphasized that energy supply shocks have historically been “serial killers” of economic expansions, raising concerns that a prolonged disruption could trigger a global economic downturn.

Exxon’s Glasscock County Section 40 development is a tightly engineered Midland Basin manufacturing unit, with four discrete pads, uniform Spraberry horizontal well designs at ~10,046 ft, and zero surface or subsurface dispersion. The measured, phased cadence — with meaningful undrilled inventory preserved — reflects Exxon’s broader Permian strategy: lower-cost, technology-enabled execution focused on long-cycle recovery and sustained growth well beyond 2030.

Exxon Mobil Corporation made it clear that the Permian is a long-run manufacturing asset with no near-term peak, and the county-level data shows exactly how that strategy is executed on the ground. Midland, Eddy, and Martin operate as Steady State counties drilled through price cycles, while Upton and Glasscock are Emerging counties where recent permits and forward wells signal the next phase of disciplined expansion.