Insight

US upstream in brief: Lower 48 oil production meets rig reality

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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

The US week in brief report highlights the need-to-know events from US upstream. It is a rolling document, continuously updated with our own analysis and opinion on events impacting the sector. Coverage includes US onshore and Gulf of Mexico. Sources for the news stories include company press releases, industry events, press coverage, and our own modelling changes. The facts are presented, but more importantly we discuss implications for our modelling.

Table of contents

  • Lower 48 oil production meets rig reality
  • Diamondback's strategic exit boosts Deep Blue's water footprint
  • ExxonMobil’s Permian proppant a trick up the sleeve that competitors don’t have
  • Notes from the Northeast
  • Every barrel produced was once explored for
  • From supplier to off-taker: EQT’s entry into LNG purchasing
  • Crescent Energy to acquire Vital Energy for US$3.1 billion
  • Talos makes largest GoA oil discovery this decade
  • Permian gas trajectory a growing question mark
  • Chart of the week: Utica laterals double in a decade
  • ICYMI: Q2 hedging volumes rise while strike prices fall
  • Permian rig drops outpace efficiency gains
  • 17 more item(s)...

Tables and charts

This report includes the following images and tables:

  • Permian production spud to first production time
  • Mature shale cash flow could help fund deepwater exploration (Hess example)
  • Company cost curves for US Lower 48 assets
  • Total discovered resource in Gulf of America last ten years
  • Permian production vs. takeaway
  • Utica lateral length distribution
  • Permian oil production and rig count
  • Top gas operator production and liquids weighting
  • 12 more item(s)...

What's included

This report contains:

  • Document

    US upstream in brief: Lower 48 oil production meets rig reality

    PDF 8.79 MB

  • Document

    2025 August 26 GOM Deepwater Dashboard.pdf

    PDF 247.59 KB