Permian Basin
Record output in Q2 2026, above 1.8 million oil-equivalent barrels per day, with a planned 9% CAGR through 2030.
The numbers
What it is
ExxonMobil's largest onshore oil and gas position, in West Texas and New Mexico. It is the biggest single driver of U.S. upstream volume growth and is run as a fast, low-cost shale operation.
Why it matters to the stock. Permian volume growth is the main lever for the company's upstream earnings and free cash flow. Trader focus is on quarterly production records and whether growth stays on the planned 9% CAGR.
News
ExxonMobil reports $14.5 billion Q2 profit, $3.48 per share, record Permian output
ExxonMobil reported second-quarter 2026 GAAP net income of $14.5 billion, or $3.48 per share, and adjusted earnings of $14.7 billion, or $3.52 per share, against $4.2 billion in the first quarter.
ExxonMobil flags Middle East and liquids effects in 2Q26 earnings preview
ExxonMobil's July 7 earnings considerations filing gave ranges for the market and operational effects on second-quarter 2026 results.