Unconventional (Oil and Gas) Production in the US Lower 48, H2 2020 Update

The next few years of oil and gas production growth in the United States will hinge on the discipline of operators with their capital budgets. Over the past 10 years operators have been focusing on production growth at all costs, but in 2020 they switched their initiative to returning earning to investors. Majority of the operators have stated that they are planning to operate within free cash flow to fund their future capital expenditures. This strategy has also been brought on by banks and lenders having stricter requirements when lending to the energy sector.

Scope

The report analyses the crude oil and natural gas appraisal and production activities in the US Lower 48 shale plays. The scope of the report includes:

Comprehensive analysis of crude oil and natural gas historical production during 2018-25

Detailed information of impact on well development, permits and deals due to COVID-19 pandemic

In-depth information of economic viability, well productivity and well completion parameters across major shale plays in the US

Analysis of top companies’ net acreage, planned capital expenditure, and crude oil and natural gas break-even prices in 2021

Up-to-date information on major mergers and acquisitions across major shale plays between 2020 and 2021

Reasons to buy

Develop business strategies with the help of specific insights into the major shale plays in the US

Plan your strategies based on economic viability and expected developments in the major US shale plays

Keep yourself informed of the latest M&A activity in across major shale plays

Identify opportunities and challenges in across major US shale plays

Table of Contents

1. Major Developments in the US Lower 48, 2020 5

2. US Lower 48, Historical Production and Short-Term Outlook 8

2.1 US Lower 48, Historical Production and Short-Term Outlook, 2018-2025 8

3. US Lower 48, Recent Developments and Trends among Major Shale Plays 11

3.1 Well Development Activity, January-December 2020 11

3.2 Rig Count Activity, January 2020 – February 2021 12

3.3 Drilled Uncompleted Wells, January 2020 – February 2021 13

3.4 Permits, January 2020 – February 2021 14

3.5 Deals, January 2020 – February 2021 15

4. US Lower 48, Economic Viability 16

4.1 Crude Oil Breakeven Price by Major Shale Plays 16

4.2 Natural Gas Breakeven Price by Major Shale Plays 17

4.3 US Lower 48, Well Productivity 18

4.4 US Lower 48, Well Completion 22

4.5 US Lower 48, Cost Trend 25

5. US Lower 48, Analysis of Top Companies 28

5.1 Total Net Acreage of Major Operators 28

5.2 Planned Capital Expenditure for Major Operators in 2021 30

5.3 Break-even Crude Oil Price of Major Operators 32

5.4 Break-even Gas Price of Major Operators 34

6. Mergers and Acquisition Activity in the US Lower 48, 2019-2020 36

6.1 Overview of M&A Activity 36

Contact Us 41

List of Tables

Table 1: Shale play wise net acreage of the major companies in the US, 2020 (acres) 28

Table 2: Planned Capital Expenditure by Major Companies, 2020-21 (US$ million) 30

Table 3: Crude oil break-even prices of major operators by shale plays, 2021 (US$/bbl) 32

Table 4: Natural gas break-even prices of major operators by shale plays, 2021 (US$/mcf) 34

Table 5: US Lower 48, Major Deals by Oil and Gas Companies, 2019-2021 39

List of Figures

Figure 1: Crude oil production in the US, 2017-2021 5

Figure 2: Rig count in the US shale and West Texas Intermediate (WTI) price trend, 2017-2021 6

Figure 3: Rig count and oil production outlook in the US shale, 2020-2025 7

Figure 4: Annual crude oil production outlook across major shale plays, 2018-2025 9

Figure 5: Annual natural gas production across major shale plays, 2018-2025 10

Figure 6: Wells developed across major US shale plays, January-December 2020 11

Figure 7: Rig count across major US shale plays, January 2020 – February 2021 12

Figure 8: DUC wells count in major shale plays, January- February 2021 13

Figure 9: DUC wells count in major shale plays, January 2020 – February 2021 14

Figure 10: Deals announced in major shale plays, January 2020 – February 2021 15

Figure 11: Crude oil break-even price across major US oil shales, January 2019 till date 16

Figure 12: Natural gas break-even price across major US gas shales, January 2019 till date 17

Figure 13: Crude oil IP30 rates of major shale plays, January 2019 – December 2020 18

Figure 14: Natural gas IP30 rates of major shale plays, January 2019 – December 2020 19

Figure 15: Crude oil EUR by major shale plays, January 2019 – December 2020 20

Figure 16: Natural gas EUR by major shale plays, January 2019 – December 2020 21

Figure 17: Average lateral length by major shale plays, January 2019 – December 2020 22

Figure 18: Average proppant mass by major shale plays, January 2019 – December 2020 23

Figure 19: Average proppant mass per lateral length by major shale plays, January 2019 – December 2020 24

Figure 20: Average well costs by major shale plays, January 2019 – December 2020 25

Figure 21: Average well costs per lateral length by major shale plays, January 2019 – December 2020 26

Figure 22: Average production cost by major shale plays, January 2019 – December 2020 27

    Pricing

Discounts available for multiple report purchases.

reportstore@globaldata.com
+44 20 7947 2745

Join our mailing list

Saved reports