NORTH AMERICA

Permian snowball gathers pace

THE US Geological Survey announcing last November that the Permian Basin has more than 20 billion barrels of technically recoverable oil yet-to-find has formed a perfect storm with rising oil prices, with ExxonMobil yesterday saying it would more than double its resources there.

 Permian Basin activity.

Permian Basin activity.

ExxonMobil said yesterday it would boost resources to 6 billion barrels of oil equivalent by acquiring companies owned by Fort Worth locals the Bass family, by adding an estimated resource of 3.4Bboe in...

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