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Lower 48 oil and gas breakeven analysis update

Lower 48 oil and gas breakeven analysis update

Report summary

In an update to our March 2015 breakevens analysis, we assess the impact of a lower oil price on more than 1,600 company assets. This detailed data set demonstrates which operators and plays are most exposed to low prices and provides a rigorous look at what the future may hold. Key findings include:

  • The Wolfcamp edged out the Eagle Ford for the lowest weighted-average breakevens at US$52/bbl 
  • Gas-weighted operators with core positions have suffered less than liquids-focused players 
  • Three sub-plays spanning the Mid-Continent, Eagle Ford, and Permian can hold their own and generate positive cashflow at US$50/bbl WTI
  • More than 600,000 b/d in 2016 could be supported by a price change from US$45/bbl to US$65/bbl (WTI)

The analysis provides production forecasts for both oil and gas, supply curves, company weighted development breakevens, well cost sensitivities, debt adjusted company exposure and international comparisons to give you the information you need to succeed in uncertain times.

What's included?

This report includes 2 file(s)

  • L48 Breakevens Benchmarking September.xls XLS - 2.20 MB
  • L48 Breakevens Benchmarking September.pdf PDF - 1.08 MB


This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

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