drilling for tomorrow
Smart use of our technology will remain instrumental in the success of our base business and major capital projects, and on our long-term goal of achieving industry-leading results for decades to come. Advances in drilling technology will continue to take us into places that were previously inaccessible or uneconomic to drill.
Horizontal drilling, combined with hydraulic fracturing, will continue to help us ramp up production of oil and natural gas from shale and tight resources ranging from Loma Campana in Argentina to the Permian Basin in West Texas and Southern New Mexico. We have a particularly strong legacy position in the Permian’s multiple, stacked tight oil zones, which are poised to deliver long-term growth. Elsewhere in the United States and Canada, we’ve also increased capital spending to apply horizontal drilling and hydraulic fracturing to grow our shale and tight oil production.
We’ll also continue to build on our leading position in the deep waters of the U.S. Gulf of Mexico and other areas. Subsea Mudlift Drilling will become a significant tool in enabling us to drill more efficiently and safely in these deep waters.
Updated: October 2015