Insight
2025 guidance: upstream companies' capital budgets and production targets
This report is currently unavailable
*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 121 companies have disclosed their 2025 capital budgets. Our tally has upstream investment at US$336 billion or 2.5% less than in 2024. When it comes to output, targets are up. Combined, the 118 companies that have announced 2025 production guidance expect to produce 2.7 million boe/d (4.5%) more than they did in 2024.
Table of contents
- CSAS Guidance Tracker (GT) tool is live
-
2025 vs 2024: upstream capital budgets
- March 25 to April 7
- March 11 to March 24
- February 25 to March 10
- February 11 to February 24
- January 25 to February 10
- January 11 to January 24
- Prior to January 11
- 2025 vs 2024: production guidance
Tables and charts
This report includes the following images and tables:
-
2025 vs 2024: change in production guidance by peer group2025 vs 2024: upstream capital budget evolution by peer group2025 vs 2024: % change in upstream capital budgets by peer group
What's included
This report contains:
Other reports you may be interested in
Insight
Rebuilding Venezuela’s upstream sector: where optimistic ambitions meet harsh realities
The US’ push for radical change is strong but Venezuela has suffered from years of underinvestment, rising costs and operational decay.
$1,350
Asset Report
Auk Area
The Auk Area is located in the Central North Sea and consists of the Auk and Auk North fields. Auk is one of the oldest producing ...
$3,720
Insight
Zinc: 5 things to look for in 2026
2026 looks set to be a dramatic and volatile year. We review some zinc specific issues to look out for:
$1,050
