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Lower 48 cost inflation: takeaways from Q1 2022 earnings calls

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11 May 2022

Lower 48 cost inflation: takeaways from Q1 2022 earnings calls

Report summary

Each Lower 48 E&P messaged cost inflation slightly differently in Q1 2022 earnings. Some operators projected low numbers and shared detailed strategies on controlling overspend. Others provided only high level commentary, but spoke to 20% cost increases. We break down all the data companies presented. And we also add our analysis of which factors helped some E&Ps differentiate by keeping a lid on inflation. Pre-planned procurement impacts how the next few quarters of capex increases could unfold.

Table of contents

  • Executive summary
  • Cost themes from company calls
  • Specific company Q1 2022 cost inflation remarks
  • But what about OFS?
  • Quantitative benchmarking and our take

Tables and charts

This report includes 2 images and tables including:

  • Upstream spending vs inflation commentary (company guidance)
  • Ovintiv cost inflation detail

What's included

This report contains:

  • Document

    Lower 48 cost inflation: takeaways from Q1 2022 earnings calls

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