Insight
Lower 48 upstream: 2019 in review
Report summary
With 2019 officially in the books, it is a good opportunity to look back at one of the most tumultuous years ever for Lower 48 operators and investors. To do that, we'll count down the five most popular stories from last year's US Week in Brief. Investors finally clamped down on the independents. The focus shifted from production growth to capital discipline and returning cash to shareholders. The result was a virtually continuous decline in rig count and a muted M&A market. Because of intense investor scrutiny, equity markets were hyper-sensitive to operational hiccups. But while the independents adjusted to new demands, the majors rigged up in earnest. ExxonMobil and Chevron both announced aggressive tight oil production targets and increased activity. Also, in efforts to keep pace Occidental Petroleum outbid Chevron for Anadarko and became the Permian's top oil producer. For now.
Table of contents
- Executive Summary
- 5. Investors down on US Independents (7 August)
- 4. No floor for US rig count? (27 August)
- 3. Slowdown in Permian deals (6 February)
- 2. Chesapeake’s financial trouble brings divestitures to the forefront (6 November)
- 1. Anadarko takeover (17 April)
Tables and charts
This report includes 5 images and tables including:
- US Independents debt vs. stock price
- US onshore rigs, WTI price
- US onshore deal volume
- Chesapeake Marcellus Bradford Area type curve vs. peers
- Occidental reported and forecast production
What's included
This report contains:
Other reports you may be interested in
24 January 2023
Lower 48 upstream landing page
Insight
Lower 48 upstream landing page
Bookmark this page for all of our Lower 48 research, including the latest key play reports, Insights, and region overviews.
$1,35031 January 2020
Russian Federation upstream: 2019 in review
Insight
Russian Federation upstream: 2019 in review
Russia ended the decade with a bumper set of announcements. Where was progress made in Russia's upstream?
$1,35009 January 2020
Atlantic Canada Upstream: 2019 in review
Insight
Atlantic Canada Upstream: 2019 in review
Muted exploration activity in 2019. But an exploration ramp up is expected in 2020 alongside development work at existing fields.
$1,350