Can Permian Connection Brighten XOM, CVX & COP's Outlook?

Core Insights - The Permian Basin is identified as the most prolific oil and natural gas play in the United States, with significant potential for resources and expected to account for approximately 70% of the Lower 48's oil production by 2040 [1] Group 1: Company Operations - Chevron has been operating in the Permian for about a century, controlling 2 million net acres, with mineral rights on 75% of the land, providing a cost advantage due to lower royalty payments [2][5] - ExxonMobil's core upstream assets include the Permian, where it anticipates production growth to 2.3 million oil equivalent barrels by the end of the decade, supported by a large inventory of well locations [3][5] - ConocoPhillips reported that approximately 56% of its total production in the Lower 48 came from the Permian in Q2 2025, highlighting the basin's critical role in its operations [4][5]