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Exxon Mobil expects better profits, but signals more expenses in the future

Oil management expects its annual cash flow from operations – a key goal of financial health in the oil industry – to hit $ 60 billion by 2025.

Exxon provided its total cash flow forecast of $ 24 billion from last year, with about $ 15 billion out of The increase comes from expected sales of the company's assets. This year, Exxon expects cash flow from operations and real estate sales to grow by $ 5 billion.

The company says that a large profit and cash flow driver will be wells in the Permian Basin, the top American shale field. On Tuesday, Exxon said it expects Permian's oil and natural gas production to grow to about 1 million barrels of oil equivalent per day, an increase of nearly 80 percent from last year's investor day forecast.

Exxon has plugged large patches of continuous land into the region during western Texas and southeastern New Mexico.

"This allows you to develop resources on a very large and highly effective scale, and it allows you to use the Exxon Mobile," Exxon Senior Vice President Neil Chapman said, referring to the company's history of developing large, complex projects.

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