Far from resting on its laurels after becoming the largest U.S.-based oil and gas producer through the 1999 merger of Exxon and Mobil, ExxonMobil has weathered multiple industry cycles to drive continual output growth. But the largest burst has been a major strategic transition that drove a 27% increase in output from 2020-25 to the highest level in 40 years. Today’s RBN blog analyzes how that transformation has unfolded since 2020, where ExxonMobil is investing today, and why the Permian, Guyana and LNG are increasingly defining the company’s upstream future.
The Natural Gas Master Class is a one-day online event focusing on understanding flow analysis, interpreting pipeline data and forecasting future flows. This course is designed to equip you with the knowledge and skills to effectively analyze the complexities of natural gas markets, flow analysis, and pipeline modeling. Join us online
October 21 | Online
At the turn of the century, the newly formed ExxonMobil inherited a broadly diverse global portfolio of upstream positions on six continents, including deepwater assets in the Gulf of Mexico and West Africa, large conventional fields in the Middle East, extensive Arctic and cold‑weather operations (later exemplified by Sakhalin‑1), and a broad global natural gas footprint that would eventually underpin LNG megaprojects in Qatar and Papua New Guinea.
Now, 27 years after the merger, the company has shifted dramatically to concentrating production and capital around three advantaged platforms: the Permian Basin, Guyana and LNG. In 2025, those assets accounted for about 59% of ExxonMobil’s upstream production (combined blue, yellow and green slices in Figure 1 below), up sharply from just a year earlier, and the company expects that share to rise further by the end of the decade. At the same time, the geographic mix of spending has shifted decisively toward the U.S. and the Americas, while several legacy regions have become less important to growth. The result is an upstream portfolio that remains global in scale, but is becoming much more concentrated in a relatively small number of very large, low-cost assets.
Join Backstage Pass to Read Full Article
About the song
“Gimme Three Steps” was written by Ronnie Van Zant and Allen Collins and appears as the third cut on side one of Lynyrd Skynyrd’s debut album, Pronounced Leh-nerd Skin-nerd. The song was written about an incident involving singer Ronnie Van Zant at a bar in Jacksonville, FL, called The Pastime. Ironically, “Gimme Three Steps” failed to chart when it was released as a single in November 1973; it has since become one of the band's most popular songs. On a side note, mega-selling Los Angeles band Poison played this song regularly as a part of their set in LA clubs before being signed to their first record deal. Personnel on the record were: Ronnie Van Zant (vocals), Gary Rossington (lead guitar), Allen Collins (guitar), Ed King (bass), Billy Powell (keyboards), and Bob Burns (drums).
Pronounced Leh-nerd Skin-nerd was recorded between March and May of 1973 at Studio One in Doraville, GA, with Al Kooper producing. Most of the songs on the album had been played and tested live for some time and were rehearsed to perfection at the band’s rehearsal space: Hell House, a non-air-conditioned cabin with a tin roof outside of Jacksonville. They liked the spot because they could play loudly at all hours with no neighbors or police within earshot. Hell House has since burned to the ground and the land on which it sat is now a gated residential subdivision with street names that pay homage to Lynyrd Skynyrd song titles. The album was released in August 1973 and went to #27 on the Billboard 200 Albums chart. It has been certified 2X Platinum by the Recording Industry Association of America. Two singles were released from the LP.
Lynyrd Skynyrd is an American rock band formed in Jacksonville. The band’s roots go back to 1964, performing under a variety of names, with different personnel, before deciding on the moniker Lynyrd Skynyrd in 1969. The name came from Leonard Skinner, a high school gym coach in Jacksonville who hated rock and roll and long-haired guys who played it. They have released 14 studio albums, 14 live albums, 23 compilation albums and 30 singles. The band was inducted into the Rock and Roll Hall of Fame in 2005. More than two dozen band members have passed through their ranks since their formation. The last original member, Gary Rossington, passed away in March 2023 at the age of 71. Rossington hand-picked Damon Johnson (Brother Cane, Black Star Riders) to be his replacement. Cane, along with Johnny Van Zant, Rickey Medlocke, Michael Cartellone, Mark Matejka, Peter Keys and Keith Christopher, continue to record and tour as Lynyrd Skynyrd. The band will be performing in Florida and Arizona in November and has several dates scheduled in the U.S. and Europe in 2027.
"About the Song" -- written by Mickey McMahan , RBN Director of Musicology
