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Market Research Report

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

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Permian Basin in the US, 2020 - Oil and Gas Shale Market Analysis and Outlook to 2022
Published: October 1, 2020 Content info:
Description

The Permian Basin has been the most affected play in the US since the beginning of the Covid-19 pandemic. At its peak in March 2020, the Permian had 405 drilling rigs. Currently, there are just 125 drilling rigs in the area as of September 2020. The play also witnessed a drastic drop in its output from 4.85 million barrels per day (mmbd) in March 2020 to 3.89 mmbd in May 2020.

With the contraction in demand for both crude oil and oil product persisting for a prolonged period of time due to COVID-19, there has been a look out for potential acquisitions with the goal of consolidating operations to lower costs. Chevron's US$13 billion acquisition of Noble Energy, including debt is one of the largest transactions in 2020. Although several synergies are created through this transaction, Chevron was also attracted by Noble's Permian acreage of 92,000 acres that are in close proximity to Chevron's acreage especially since its plan to acquire Anadarko fell through last year. Another relevant deal in the Permian is the recent US$2.6 billion all-stock merger involving Devon Energy and WPX Energy. Both the companies have majority of their portfolio coming from Permian basin and have overlapping acreage. This merger is beneficial for both companies as they could combine operational expertise in Permian operations, even though it might result in a reduction in their workforce.

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
Product Code: GDGE0346MAR

Table of Contents

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

9. Appendix

  • 9.1 Abbreviations
  • 9.2 Methodology

List of Tables

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

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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