Permian production milestone: tight oil passes Prudhoe Bay

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13 September 2022

Permian production milestone: tight oil passes Prudhoe Bay

Report summary

Permian tight oil production continues to grow. And with it comes unique milestones and performance statistics from the fastest-growing supply source in US history. In August 2022, cumulative production from horizontal Permian wells surpassed cumulative liquids production from Alaska’s Prudhoe Bay, the largest conventional field in the US. It’s a remarkable feat indeed. Numbers aren’t the only similarities. Both assets redefined domestic energy markets and policy. Each boomed when domestic energy security was high on Washington DC’s agenda and consumer energy costs needed to fall. the path forward from each play’s 14 billion boe produced divergences. Permian projects will keep growing, whereas Prudhoe Bay is in terminal decline. The latter’s margins are very high, whereas the Permian will require greater capex/bbl to extract the remaining decades of tight oil inventory.

Table of contents

  • Executive summary
  • Two giants of different vintages
  • Prudhoe Bay: beating conventional expectations
    • Commonalities to Alaska
    • but unique distinctions as well
  • And elsewhere in tight oil?

Tables and charts

This report includes 3 images and tables including:

  • Cumulative production convergence in August 2022
  • Prudhoe Bay’s net unit cash margins are at record levels
  • Permian capex surge to keep tight oil volumes growing

What's included

This report contains:

  • Document

    Permian production milestone: tight oil passes Prudhoe Bay

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