Insight
2023 guidance: upstream companies' capital budgets and production targets
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
A total of 129 companies have revised their 2023 capital budgets. Our tally has upstream investment at US$329 billion or 10% more than in 2022. When it comes to output, targets are also up. Combined, the 116 companies that have announced 2023 production guidance expect to produce 845 kboe/d (1.5%) more than they did in 2022. We also expanded coverage of capital budgets beyond upstream. Companies that disclose multi-year, multi-segment investment outlooks will be added to the insight.
Table of contents
- 2023 vs 2022: upstream capital budgets
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2023 vs 2022: production guidance
- Exchange rate assumptions
Tables and charts
This report includes the following images and tables:
- 2023 vs 2022: upstream capital budget evolution by peer group
- 2023 vs 2022: % change in upstream capital budgets by peer group
- 2023 vs 2022: change in production guidance by peer group
- Exchange rate assumptions (local currency unit per US$)
What's included
This report contains:
