Exxon Mobil Corp. is set to invest $50 billion over the next half decade in a return to the oil giant’s spending habits before crude suffered its worst price rout in a generation.
With oil prices now hovering above $65 a barrel in New York, Exxon Chief Executive Officer Darren Woods disclosed a program that includes the Permian Basin of West Texas and New Mexico, a hotbed of U.S. shale drilling where Exxon has been aggressively expanding for years.
