(KWES) - It's not everyday you hear votes of confidence from leaders in the oil and gas sector, much less twice in past two weeks.
The first came at the Midland Chamber's State of Oil. Tim Dove, President & CEO Pioneer Natural Resources, said the top 16 producers will drill an estimated 110,000 wells over the next several years and spend around $1 trillion dollars in the Permian Basin.
The second came this past Tuesday when United State's largest energy company, Exxon Mobil, laid out its plans to triple its oil and gas production in the area. The effort aims to take their production to approximately 600,000 barrels per day by 2025 and invest $2 billion in their infrastructure.
Consider This... more and more the writing on the wall is confirming producers are poised to invest in the Basin for the long haul.