XOM’s Permian Infrastructure Build-out Continues

Exxon Bounces Back as Crude-Oil Production, Refining Surge

Exxon was a latecomer to shale production in the booming Permian Basin, but the company has invested heavily in recent years, including the $6.6 billion purchase of acreage from the Bass family in 2017, and plans announced this week to expand a Texas refinery to use more of the light oil produced nearby.

ExxonMobil to Proceed with New Crude Unit as Part of Beaumont Refinery Expansion

“With access to terminals, railways, pipelines and waterways nearby, the Beaumont refinery is strategically positioned to benefit from Permian production growth,” said Bryan Milton, president of ExxonMobil Fuels and Lubricants Company. “The addition of a third crude unit in Beaumont will enhance the refinery’s competitive position and truly establish it as a leader in the U.S. refining industry.”