Insight
Lower 48 cost curve: comprehensive oil supply coverage
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The L48 liquids cost curve reached a floor in the previous two years, and now it’s moving upward. Levers that historically drove improvement like well productivity gains, cost concessions, and structural OFS improvements are exhausted. In this update on the cost of L48 drilling inventory, we use asset-level modelling to detail how a mature curve now shifts with costs, and how consolidation has changed the undrilled landscape. The Permian will have an outsized impact to any future changes as the region holds most of the low-cost resource. As the Permian goes, so goes the marginal cost of tight oil supply.
Table of contents
- No table of contents specified
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Insight
Global oil supply short-term update - October 2025
OPEC+ begin to unwind next tranche of cuts. We assume only a partial return of volumes due to a weakening outlook for prices.
$1,350
Asset Report
SM Energy - Lower 48 upstream
Upstream valuation of SM Energy's assets in the Lower 48.
$22,800
Insight
The UK government's North Sea consultation conundrum
The industry is at a low ebb, but the pathway ahead should be clear
$1,350
