ExxonMobil
ExxonMobil, one of the largest integrated fuels, lubricants, and chemical companies globally, has acquired Pioneer Natural Resources, enhancing its development potential in the Permian Basin. The company focuses on energy security, lower-emission technologies, and advanced recycling, with significant operations in oil, natural gas, and biofuels.
ExxonMobil Services
ExxonMobil offers a diverse range of services that are crucial for modern life. These services span across energy, chemicals, lubricants, and lower-emissions technologies. The company focuses on providing solutions that help reduce emissions, including carbon capture and storage, hydrogen, and biofuels for industrial and commercial customers. Additionally, ExxonMobil integrates its downstream and chemical operations to develop lower-emission fuels and innovative products.
ExxonMobil Acquisitions
ExxonMobil has completed the acquisition of Pioneer Natural Resources. This strategic move has created the largest unconventional business with high-return development potential in the Permian Basin. The acquisition has significantly increased ExxonMobil's resource base, including more than 1.4 million net acres in the Delaware and Midland basins with an estimated 16 billion barrels of oil equivalent resource.
ExxonMobil in the Permian Basin
ExxonMobil's operations in the Permian Basin are among the most prolific oil and gas producing areas in the United States. Located in West Texas and Southeast New Mexico, these operations are integral to the company's strategy to expand low-cost-of-supply, high-return oil and natural gas production. The combined assets in this region include more than 1.4 million net acres, bolstering ExxonMobil’s leading position in the unconventional oil and gas sector.
ExxonMobil's Recycling and Sustainability Efforts
ExxonMobil is actively enhancing its sustainability initiatives with significant investments in advanced recycling technologies. The company's Baytown, Texas, facility can process 80 million pounds of plastic waste per year, with plans to increase global advanced recycling capacity to more than 1 billion pounds per year by 2027. These efforts are part of ExxonMobil's broader strategy to support a more circular economy for plastics by converting plastic waste back into its molecular building blocks.
ExxonMobil Carbon Capture and Storage Network
ExxonMobil operates an extensive carbon capture and storage network that includes over 1,500 miles of CO2 pipeline and access to more than 15 onshore sites for CO2 storage. The company has captured more CO2 than any other enterprise, contributing to approximately 40 percent of all anthropogenic CO2 ever captured. Such initiatives underscore ExxonMobil’s commitment to reducing global carbon emissions through advanced technological solutions.