U.S.MAJORS BUILDING”PRODUCTION MACHINES”IN PERMIAN BASIN

摘要

The Permian Basin oil boom has been building for several years with small,mom-and-pop producers and large independents have driven much of the growth.But there's a new day dawning as the nation's two largest majors have walked on stage with big budgets and big plans.”The shale game has become a scale game,”Chevron Chief Executive Officer Mike Wirth recently told the Wall Street Journal.”The race doesn't go to the one who gets out of the starting block the fastest.The race goes to the one who steadily builds the strongest machine.”Five years ago,Chevron,Exxon,BP and other majors accounted for only 9 percent of the Permian Basin's output.Last year,majors accounted for 16 percent,and judging from recent investments,that number is going to climb even higher,according to OilPrice.com.