Market Chatter: ExxonMobil to Automate Half of Permian Drilling Rigs by 2028

MT newswire2026/08/24 10:52

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06:52 AM EDT, 08/24/2026 (MT Newswires) -- ExxonMobil (XOM) plans to expand automated drilling technology to half of its Permian Basin rig fleet by 2028 as it seeks to improve efficiency and increase oil production, Reuters reported Monday, citing an executive. The oil giant currently operates two automated rigs in the Permian and plans to raise that share to 25% next year, using robotics to reduce workers' exposure to high-risk areas and accelerate drilling, the report said, citing Bart Cahir, Exxon's senior vice president of unconventionals. ExxonMobil aims to boost Permian production by nearly 40% to 2.5 million barrels of oil equivalent per day by 2030 while developing more than 40 technologies to double oil recovery from the basin by the early 2030s, Reuters reported. ExxonMobil did not immediately respond to MT Newswires' request for comment. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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