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Now that we're halfway through 2017, it's a good time to look back over the last year and make note of some exceptional operators in the Permian basin.
Last year, operators in the Permian had to cope with low prices, understand a white-hot M&A market and eventually scramble to put rigs back to work. In such a hectic environment, it can be difficult to home in on exactly what individual operators have accomplished.
Benjamin Shattuck, Principal Analyst, and our Lower 48 research team used our North America Well Analysis Tool and Contour to assess trends and performance by operator and present Wood Mackenzie's first Upstream Awards.
Permian upstream awards
In our two-part Permian Upstream Awards series, we name:
Best in class: Midland Basin
Best in class: Delaware Basin
Flying under the radar
Most creative M&A deal of the year
PE company of the year
Rookie of the year
Breakout candidate for 2017
There is more than one way to win in the Permian Basin. Contact us to learn how Wood Mackenzie can help to inform your next investment decision.
The Permian's success is a combination of world class source rocks and a roster of talented operators. Some operators are industry leaders that publish the blueprint for activity, others are technological innovators and still some find competitive edges in the details. The first of our two-part Permian Upstream Awards where we recognize exceptional operators in the basin: Best in class: Midland Basin Flying under the radar Most creative M&A deal PE company of the year
There is more than one way to win in the Permian Basin. Some operators deliver across the board, others have quietly turned around sluggish performance and one operator is undertaking a project never seen in tight oil before. The second of our two-part Permian Upstream Awards where we recognize exceptional operators in the basin: Best in class: Delaware Basin Most improved award Rookie of the year Breakout candidate for 2017
How big is the wave of Permian production headed our way? It's an important question when we consider what has transpired in the Permian Basin over the last year. The rapid ramp of rigs since May 2016 caught much of the industry off guard. However, the underlying fundamentals to support the rig count are sound. Our breakeven map shows virtually all of the Permian has assets that can be developed at $50/bbl. In fact, our current view shows over 62,000 remaining locations that breakeven under $55/bbl. That equates to over 20 years of low cost drilling inventory at today’s activity levels. The acceleration was catalysed by a burgeoning M&A market, with buyers needing to secure and add rigs to the field to make deals accretive. So how does this translate to production and what are the key factors to consider?