Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Exxon Mobil Corporation (NYSE:XOM) is reportedly eyeing new fracking technologies to double the amount of oil produced from the company's U.S. Shale holdings over five years.
- Exxon currently recovers about 10% of shale resources from its operations, Reuters reported citing a statement from Exxon Mobil Chief Executive Darren Woods at the Bernstein Strategic Decisions conference.
- "We are beginning to see the signs of some very promising new technologies" that will "significantly improve recovery" volumes, Darren Woods said.
- Also Read: Exxon Mobil Gives Cold Shoulder to Climate Change Proposals, Claims It's Not a Break-Up
- The report added that developing technology in-house would allow Exxon to identify acquisition targets better, creating a "bigger and bigger deal space" in the niche industry.
- In December 2022, Exxon introduced the five-year technology development program.
- Under the program, the company set a goal to reach between 900,000 barrels per day and 1 million barrels per day in the Permian by 2027, with 9% to 11% production growth.
- The report mentions that Exxon plans to frack along much longer lateral well segments as a first wave of new shale technology, coupled with keeping the fracks open so more resources flow.
- Price Action: XOM shares are trading higher by 1.59% to $105.00 in the premarket session on the last check Friday.
- Photo via Wikimedia Commons
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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