ASX Today, page-6216

A couple of interesting snippets on Exxon, indicating the trend towards sweetspot shale plays

https://seekingalpha.com/article/4061311-exxonmobils-shale-oil-dilemma?ifp=0

The success of U.S. shale exploration and completion technology is nothing short of spectacular. While much of technical and economic optimization is still ahead, shale oil has confidently emerged as a low-cost component of the global oil supply, beating by a wide margin Deepwater and Harsh Environment exploration. It is clear that oil majors can no longer afford the "wait and see" approach and have to pursue shale opportunities in earnest.

The production target of 750,000 Boe/d from the Permian and Bakken by 2025 has long-going implications. It suggests that the weight of North America in Exxon's portfolio will increase significantly (these two basins are not the only unconventional assets in the company's portfolio). I would argue that in the process of executing on its plan Exxon will have to pursue additional significant shale acquisitions, as the company's current sweet-spot footprint, even after the Bopco acquisition, cannot support the target production volume.