While ExxonMobil delivered another quarter of record Permian production at more than 1.8 MMboe/d, management made it clear that future value creation will depend less on adding volumes and more on improving recovery and capital efficiency.
Chevron’s global upstream volumes increased by more than 5% in Q2 2026, while U.S. production reached a record of nearly 2.1 MMboe/d, the company said during its quarterly earnings call July 31. Downstream operations also reached new highs. Chevron processed more than 1 million b/d through its U.S. refineries, a record.
The Permian region’s marketed natural gas production grew from 17.2 Bcf/d in 2021 to 27.6 Bcf/d in 2025, a 60% increase, the Energy Information Administration said in a June 18 report, citing its latest Short Term Energy Outlook. Over the same period, crude oil production grew by 39%, going from 4.7 MMb/d to 6.6 MMb/d.
Kinetik shut in about 170 MMcf/d of Permian natural gas production due to low Waha prices during Q1 2026, which was more than offset by “spread-based marketing gains” which helped it post a record quarterly EBITDA of $251 million, the company said during its earnings call this week.
Houston and Corpus Christi have been locked in a battle for the top spot as the primary outlet for Permian crude. Lately, the pendulum has been swinging toward Corpus — and not by accident.
Plains All American’s Basin Pipeline and the complementary Sunrise Pipeline play major roles in moving Permian crude to Cushing, OK, the delivery point for the U.S. benchmark and a key storage hub. In today’s RBN blog, we’ll dig into why the pipes are so important to the Permian, Plains and Cushing.
Houston and Corpus Christi have been locked in a battle for the top spot as the primary outlet for Permian crude. Lately, the pendulum has been swinging toward Corpus — and not by accident.
On Monday, November 24, WhiteWater announced the expansion of the Eiger Express Pipeline's mainline capacity from 2.5 Bcf/d to 3.7 Bcf/d.
Kinetik achieved full commercial in-service at its Kings Landing natural gas processing complex in late September, adding 220 MMcf/d of gas processing capacity in Eddy County, NM, the company said in its quarterly earnings call November 5.
Diamondback Energy is holding oil production flat through the end of 2025, citing an uncertain crude market and confidence in its low-cost Midland Basin inventory. The company continues to drive efficiency gains, cutting well costs back to 2020 levels and accelerating completions with its new “continuous pumping” technique. At the same time, Diamondback is reducing its exposure to Waha-indexed gas prices by adding new pipeline capacity and exploring in-basin power projects that would create new demand for its natural gas.
