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8 Pages

US Upstream: Five things to look for in 2017


US Upstream: Five things to look for in 2017

Report summary

2016 was yet another tumultuous year for the upstream oil and gas industry. WTI prices hovered near $45/bbl in H2 after bottoming out at $26/bbl in February, and benefited from an end-of-year boost above $50/bbl following a positive OPEC agreement in November. Most E&P operators managed to stay in the game through enhanced completion designs and drilling efficiency gains, rendering new drilling profitable. Rig counts have risen sharply since reaching a trough in May, with most new rigs drilling in the Permian. This Insight is our US Upstream Research team's set of predictions for 2017, presented graphically and primarily focused on the US upstream industry, but including thoughts on cost inflation, onshore and offshore drilling, unconventional supply, productivity gains and more.

What's included?

This report includes 1 file(s)

  • US Upstream: Five things to look for in 2017 PDF - 1.11 MB 8 Pages, 0 Tables, 6 Figures

Description

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

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in upstream commercial data and analysis.

  • Service costs will increase in 2017, yet remain short of 2014 levels
    • Year-on-year change of breakeven oil price for Midland Wolfcamp Deep Basin sub-play
  • Productivity pauses as rigs rebound
  • Onshore oil production grows again as rig counts continue to rise
  • L48 zigs, GoM zags
  • Risks to a 2017 recovery
    • Service sector bites back
    • Any "sweet spots" left?
    • Slowing growth in demand

In this report there are 6 tables or charts, including:

  • Service costs will increase in 2017, yet remain short of 2014 levels
    • US Upstream: Five things to look for in 2017: Image 2
  • Productivity pauses as rigs rebound
    • Productivity per foot in Lower 48 major tight oil plays
  • Onshore oil production grows again as rig counts continue to rise
    • 2017 US onshore crude oil production and rig count forecasts
  • L48 zigs, GoM zags
    • GoM 2017 production and capex outlook
  • Risks to a 2017 recovery
    • Lower 48 breakeven sensitivity to cost inflation by sub-play
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