Exxon, Chevron planning big expansions in shale drilling, a move which could shake up the industry

div > div.group > p:first-child"> Last week, both Exxon Mobil and Chevron said they would boost their growth in the Permian basin substantially.

Exxon expects to boost production to 1 million barrels a day in five years in the 75,000 square mile area that runs through West Texas and southeastern New Mexico. Chevron expects to more than double its output to 900,000 barrels a day in four years. "I do think it raises the bar..I think what we've seen in shale is the benefits of scale are real," said Strik.

These are very companies poo-poo the Shale industry led by Texas independents and Aubrey McClendon. It goes to show you, bigger doesn’t mean they are smarter — typically dumber.

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