Lower 48 oil and gas breakeven analysis and company benchmarking

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09 March 2016

Lower 48 oil and gas breakeven analysis and company benchmarking

Report summary

We have updated our comprehensive breakeven analysis of more than 1,500 oil & gas assets in Wood Mackenzie's Lower 48 coverage. As a key source of relatively flexible global supply, changes in the Lower 48 cost curve have significant effects on supply recovery scenarios.  Based off our proprietary Global Economic Model ('GEM'), this detailed data set and analysis goes across plays and operators to benchmark performance, demonstrate exposure to low prices and provide a look at what the future may hold. 

Table of contents

    • Breakevens fall further for core liquids assets than gas assets
      • An updated Lower 48 cost curve to analyse how the curve has changed over time
    • The Wolfcamp continues to achieve the lowest weighted-average breakevens
      • Asset and play level breakevens included for benchmarking
    • Drilled but uncompleted wells offer optionality with lower point-forward breakevens
      • Analysis on the abnormal well backlog to address supply response questions
    • Cash cost breakevens indicate risk of shut-in production
      • A new cash cost curve to explore risk to flowing production

Tables and charts

This report includes 1 images and tables including:

  • An excerpt from the downloadable report shows our asset breakevens at the play level

What's included

This report contains:

  • Document

    Lower 48 oil and gas analysis and company benchmarking.pdf

    PDF 973.62 KB