Permian Basin in the United States of America (USA), 2021 – Oil and Gas Shale Market Analysis and Outlook to 2025

GlobalData’s latest report, “Permian Basin in the US, 2021 – Oil and Gas Shale Market Analysis and Outlook to 2025” provides a comprehensive review of hydrocarbon appraisal and development in the Permian Basin against the backdrop of COVID -19 pandemic. The report also provides an outlook for oil and gas production in this play till 2025 along with competitive positioning of major operators.

The Permian Basin located in the states of Texas and New Mexico, is the largest oil producing region in the United States. In 2019, the basin averaged over 4.3 million barrels of oil per day (mmbd), peaking at 4.7 million in December 2019. During 2020, oil production averaged over 4.8 million barrels of oil per day (mmbd) from January to March before the pandemic-led demand crash that resulted in a production drop to an average of 4.3 million from April to December 2020.

The lowest level of crude and condensate production was reached in September 2020, at 4.2 mmbd or 12.5% below March 2020 levels. While natural gas production reached the lowest volumes of 14.8 bcfd in May 2020, which was a 14% drop compared to March 2020.

Permian Basin, Monthly Production Outlook till March 2022

Source: Upstream Analytics, GlobalData Oil and Gas                                                                                                     © GlobalData

                                                                         

Scope

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

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

Detailed information of impact on well development, permits and deals against the backdrop of the COVID-19 pandemic

In-depth information of well productivity and well completion parameters across Permian Basin in the US

Analysis of top companies’ net acreage, planned capital expenditure in 2021, as well as crude oil and natural gas reserves and production stats as of 2020

Up-to-date information on major mergers and acquisitions across the Permian Basin between 2019 and 2021

Reasons to buy

Develop business strategies with the help of specific insights into the Permian Basin in the US

Plan your strategies based on economic viability and expected developments in the Permian Basin

Keep yourself informed of the latest M&A activity in across Permian Basin

Identify opportunities and challenges across Permian Basin

Table of Contents

1. Overview 6

1.1 Permian Basin, Recent Developments and Trends 6

2. Permian Basin, Introduction 8

2.1 Permian Basin, Formation Overview 8

3. Permian Basin, Production and Activity Overview 9

3.1 Permian Basin, Production Analysis, 2018-2020 9

3.2 Permian Basin, COVID-19 Impact on Production 12

3.3 Permian Basin, Production Outlook, 2021-2025 13

3.4 Permian Basin, Drilling Activity 14

3.5 Well profile 19

4. Permian Basin, Competitive Benchmarking 21

4.1 Permian Basin, Major Companies with Prominent Presence, 2021 21

4.2 Permian Basin, Financial Standings of Major Companies 24

4.3 Permian Basin, Operational Performance of Leading Operators 25

4.4 Permian Basin, Completion Parameters, 2019-21 27

4.5 Permian Basin, Plans of Major Companies 30

4.6 Permian Basin, Cost Trends, March 2021 31

5. Permian Basin, Analysis of Bankrupt Companies 32

5.1 Rosehill Resources 32

5.2 EP Energy 33

6. Permian Basin, Associated Infrastructure 34

6.1 Pipelines 34

7. Mergers and Acquisition Activity in the Permian Basin, 2019-2021 37

7.1 Overview of M&A Activity 37

7.2 Major Acquisitions 37

8. Permian Basin, Analysis of Major Companies 40

8.1 Apache Corporation 40

8.2 Chevron Corporation 40

8.3 Devon Energy Corporation 41

8.4 ExxonMobil Corporation 41

8.5 Occidental Petroleum Corporation 42

8.6 Royal Dutch Shell Plc 42

8.7 Cimarex Energy Company 42

8.8 Endeavor Energy Resources, L.P. 43

9. Appendix 44

9.1 Abbreviations 44

9.2 Methodology 44

| Contact Us 45

List of Tables

Table 1: Permian Basin, Crude Oil and Natural Gas Production, 2018-2020 9

Table 2: Permian Basin, Net Acreage by Company, 2021 21

Table 3: Permian Basin, Reserves and Production by Major Companies, 2020 23

Table 4: Permian Basin, Financial Standings of Major Companies, Q1 2021 24

Table 5: Permian Basin, Operational Performance of Leading Operators, January 2020 – March 2021 25

Table 6: Permian Basin, Planned Capital Expenditure by Major Companies, 2020-21 (US$ million) 30

Table 7: Rosehill Resources, Permian Basin, Key Operational Parameters, 2020 32

Table 8: EP Energy, Permian Basin, Key Operational Parameters, 2020 33

Table 9: Permian Basin, Reserves and Production by Major Companies, 2020 35

Table 10: Permian Basin, Major Deals by Oil and Gas Companies, 2019-21 38

List of Figures

Figure 1: Total Production in Permian Basin, 2018-2021 6

Figure 2: Rig count in Permian Basin, and West Texas Intermediate (WTI) future prices, 2019-2021 7

Figure 3: Permian Basin, Crude Oil and Condensate Production by County (mbd), 2018-2020 10

Figure 4: Permian Basin, Natural Gas Production by County (mmcfd), 2018-2020 11

Figure 5: Permian Basin, COVID-19 Impact on Production, 2021 12

Figure 6: Permian Basin, Production Outlook, 2021 – 2025 13

Figure 7: Permian Basin, Number of Well Permits by County, Texas, January 2019 to May 2021 15

Figure 8: Permian Basin, Number of Well Permits by County, New Mexico, January 2019 to May 2021 16

Figure 9: Permian Basin, Well Permits by Key Operators, Texas, January 2019 to May 2021 17

Figure 10: Permian Basin, Well Permits by Key Operators, New Mexico, January 2019 to May 2021 18

Figure 11: Permian Basin, Well Profile for Crude Oil Production 19

Figure 12: Permian Basin, Well Profile for Natural Gas Production 20

Figure 13: Permian Basin, Proppant Mass (million lbs.) vs Lateral Length (ft) 27

Figure 14: Permian Basin, Average Peak Crude Oil Production vs Lateral Length (ft) Quartile 28

Figure 15: Permian Basin, Peak Total Production vs Lateral Length, 2019-2021 28

Figure 16: Permian Basin, Total EUR vs Lateral Length, 2019-2021 29

Figure 17: Permian Basin, Major Companies by Well Costs (US$ mil), March 2021 31

Figure 18: Permian Basin, Major Active Crude Oil and Natural Gas Pipelines by Capacity, May 2021 34

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