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US Lower 48: 4 things to look for in 2023

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Despite a chaotic macro environment in 2022, “stability” was the watchword for US E&Ps. Control what you can control. Remove business volatility wherever possible. As such, reinvestment remained steady, production growth was modest and moderately sized bolt-ons drove M&A activity. As we look to 2023, we discuss the four topics that will hold our attention and the industry themes to look for in the new year.

Table of contents

    • 1. Operators will seek differentiation through growth
    • 2. OFS providers will seek their ‘pound of flesh’
    • 3. M&A will strike a different tone
    • 4. Will companies flare to maintain production?
    • What to look for in 2023 – a regional upstream series

Tables and charts

This report includes 2 images and tables including:

  • Quarterly use of 2022 free cash flow
  • Lower 48 drilling rig cost structure

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    US Lower 48: 4 things to look for in 2023

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