Permian Basin in the US, 2020 – Oil and Gas Shale Market Analysis and Outlook to 2022

The Permian Basin, the largest oil producing region in the US, has been impacted the most by the COVID-19 pandemic. Since March 2020, several producing wells in the region have shut down and there has been a decrease in drilling rig counts, which has led to a drop in its output from 4.85 million barrels per day (mmbd) in March 2020 to 3.89 mmbd in May 2020.

Andrew Folse, Oil & Gas Analyst at GlobalData, comments:

“The growth in Q4 2020 production will be minimal as operators remain cautious and maintain capital discipline in their development plan towards the Permian Basin. As we approach 2021, GlobalData estimates a conservative growth in production in Permian Basin from an annual average of 4.3 mmbd in 2020 to approximately 4.4 mmbd.”

Scope

The report analyzes the crude oil and natural gas appraisal and production activities in the Permian Basin in the US. The scope of the report includes:

  • Comprehensive analysis of crude oil and natural gas production across major counties in Texas and New Mexico during 2017–2019, as well as production outlook from 2020–2022
  • Detailed information of impact on monthly production from the play amid COVID–19 pandemic
  • In-depth information of well permits issued in the Permian Basin across Texas and New Mexico, by county and by company from January 2019 to August 2020
  • In-depth analysis of net acreage, reserves, production in 2020, cost trends and planned investments of major companies in the Permian Basin
  • Detailed information of financial standings of major companies
  • In-depth analysis on various completion parameters
  • Comparison of planned capital expenditure by major companies
  • Detailed analysis of economic metrics of major players in the Permian Basin
  • In-depth analysis of financial and economic metrics of bankrupt companies in the Permian Basin
  • Up-to-date information on major mergers and acquisitions in the Permian Basin between 2018 and 2020
  • Overview of existing and active pipeline infrastructure in and around the Permian Basin, along with a review of the upcoming projects in the region

Reasons to buy

  • Develop business strategies with the help of specific insights into the Permian Basin
  • Plan your strategies based on expected developments of the Permian Basin
  • Understand the competitive landscape of the companies in the Permian Basin
  • Keep yourself informed of the latest M&A activity in this prolific Basin
  • Identify opportunities and challenges in the Permian Basin in the US

Table of Contents

1. Overview

1.1 Permian Basin, Recent Developments and Trends

2. Permian Basin, Introduction

2.1 Permian Basin, Formation Overview

3. Permian Basin, Production and Activity Overview

3.1 Permian Basin, Production Analysis, 2017–2019

3.2 Permian Basin, COVID-19 Impact on Production

3.3 Permian Basin, Production Outlook, 2020–2022

3.4 Permian Basin, Drilling Activity

4. Permian Basin, Competitive Benchmarking

4.1 Permian Basin, Major Companies with Prominent Presence, 2020

4.2 Permian Basin, Major Companies’ Financial Standings

4.3 Permian Basin, Operational Performance of Leading Operators

4.4 Permian Basin, Completion Parameters, 2020

4.5 Permian Basin, Future Plans by Major Companies

4.6 Permian Basin, Cost Trends, 2020

5. Permian Basin, Analysis of Bankrupt Companies

5.1 EP Energy

5.2 Rosehill Resources

6. Permian Basin, Associated Infrastructure

6.1 Pipelines

7. Mergers and Acquisition Activity in the Permian Basin, 2018–2020

7.1 Overview of M&A Activity

7.2 Major Acquisitions

8. Permian Basin, Analysis of Major Companies

8.1 Abraxas Petroleum

8.2 Apache Corp.

8.3 Approach Operating LLC

8.4 Callon Petroleum

8.5 Centennial Resource Development

8.6 Chevron Corporation

8.7 Cimarex Energy

8.8 Concho Resources

8.9 ConocoPhillips

8.10 Contango Oil & Gas

8.11 Diamondback Energy

8.12 Earthstone Energy

8.13 Ovintiv Inc

8.14 Endeavor Energy Resources

8.15 EP Energy Corporation

8.16 ExxonMobil Coporation

8.17 Halcon Resources Corp.

8.18 Hunt Oil Company

8.19 Laredo Petroleum

8.20 Lilis Energy Inc

8.21 Linn Energy

8.22 Matador Resources

8.23 Noble Energy

8.24 Oasis Petroleum

8.25 Occidental Petroleum

8.26 PDC Energy

8.27 QEP Resources

8.28 Ring Energy

8.29 Rosehill Resources

8.30 Royal Dutch Shell Plc

8.31 Sheridan Production Company

8.32 SM Energy

8.33 Vanguard Natural Resources

8.34 WPX Energy

9. Appendix

9.1 Abbreviations

9.2 Methodology

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List of Tables

Table 1: Permian Basin, Crude oil and natural gas production, 2017–2019

Table 2: Permian Basin, Net Acreage by Company, 2020

Table 3: Permian Basin, Reserves and Production by Major Companies, August 2020

Table 4: Permian Basin, Financial Standings of Major Companies, Q2 2020

Table 5: Permian Basin, Operational Performance of Leading Operators, 2020

Table 6: Permian Basin, Planned Capital Expenditure by Major Companies, 2020 (US$ million)

Table 7: EP Energy, Permian Basin, Key Financial Parameters, 2020

Table 8: EP Energy, Permian Basin, Key Operational Parameters, 2020

Table 9: EP Energy, Permian Basin, Key Economics, 2020

Table 10: Rosehill Resources, Permian Basin, Key Financial Parameters, 2020

Table 11: Rosehill Resources, Permian Basin, Key Operational Parameters, 2020

Table 12: Rosehill Resources, Permian Basin, Key Economics, 2020

Table 13: Permian Basin, Active, Planned and Announced Pipelines

Table 14: Permian Basin, Major Deals by Oil and Gas Companies, 2018–2020

List of Figures

Figure 1: Permian Basin, Change in Well Count in 2020

Figure 2: Permian Basin, Average Realized Price with Percentage Hedged in Q2 2020

Figure 3: Chevron Permian Basin Production Outlook

Figure 4: Permian Basin, Monthly Oil Production Forecast, 2020-21

Figure 5: Permian Basin, Crude Oil and Condensate Production by County, mbd, 2017–2019

Figure 6: Permian Basin, Natural Gas Production by County, mmcfd, 2017–2019

Figure 7: Permian Basin, COVID-19 Impact on Production, 2020

Figure 8: Permian Basin, Production Outlook, 2020–2022

Figure 9: Permian Basin, Number of Well Permits by County, Texas, January 2019 to August 2020

Figure 10: Permian Basin, Number of Well Permits by County, New Mexico, January 2019 to August 2020

Figure 11: Permian Basin, Number of Well Permits by Operators, Texas, January 2019 to August 2020

Figure 12: Permian Basin, Number of Well Permits by Operators, New Mexico, January 2019 to August 2020

Figure 13: Permian Basin, Well profile of major counties

Figure 14: Permian Basin, Quartile distribution of EUR (mmboe)

Figure 15: Permian Basin, Average Peak Crude Production vs Lateral Length (ft) Quartile

Figure 16: Permian Basin, Peak Crude Production vs Lateral Length, 2020

Figure 17: Permian Basin, Crude Oil EUR vs Lateral Length, 2020

Figure 18: Permian Basin, Major Companies by Well Costs, 2020

Figure 19: Permian Basin, Active Oil and Gas Pipelines by Capacity

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