Insight
US upstream week in brief: Q1 2020 archive
Report summary
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
- Rig crash, price lows, and shut-ins
- Poison pills and US$25/bbl hedges
- Equinor cuts all shale work
- Oh no! 5.0
- Laredo to halt completions and drastically slow drilling
- Hedging help for some
- Financial health index (FHI) hits rock bottom
- Chevron slashes Permian budget by 50%
- Diamondback to pause completions, let production decline
- Coronavirus threatens oilfield operations
- Preserving cash by passing on the latest US GoM lease sale
- Independents clutch their GoM budgets
- The same but different for service costs
- Alaska’s answer to the oil price collapse
- GoM FID update
-
Tight oil reacts to price plummet
- Matador Resources to drop from six to three rigs by mid-year, CEO takes pay cut
- Occidental Petroleum cuts its dividend (by 86%) and capital spending (by 32%)
- Marathon Oil announces $500 million (20%) reduction to 2020 capital budget
- California Resources slashes budget to "mechanical integrity" level
- Parsley Energy provides guidance update for 2020
- Diamondback Energy revises 2020guidance
- WTI at $30/bbl
- Impressions from ExxonMobil’s Investor Day
- How coronavirus is affecting US Lower 48 oil supply
- Spurring Yeso play activity
- Impressions from Chevron’s Analyst Day
- Woodmac on the move: A&D trip notes
- The latest trends in Lower 48 drilling activity
- Alpine High rides off into the West Texas sun
- Can Kosmos grow through the drill bit in the US GoM?
- A GoM growth story for international investors
- Thoughts on northeast bankruptcies
- What price could change Permian budgets?
- Coronavirus and cancelled US LNG cargos
- The Permian recovery playbook
- Texas flaring report raises more questions than answers
- More Midland field notes
- Tough road ahead for Antero
- Parsley Energy’s opportunistic debt refinance
- Bernie wins New Hampshire – hypothetical frac bans explained
- The not-so-roaring '20s: a look at the decade ahead
- Bone Spring gaining ground on the Wolfcamp
- Woodmac on the move: proppant particulars
- Another step in the Majors’ Permian journey
- Permian earthquakes strengthen
- Lens database: key price assumption update
- Ovintiv’s unique cost outlook
- Hess to upgrade Bakken’s Tioga Gas Plant in 2020
- Bankrupt Alta Mesa assets sold for US$320 million
- A high profile PE bankruptcy
- Stabilizing Midland decline rates?
- Last year’s US M&A market points to 2020 expectations
- Service sector giants see a grim 2020
- E-fracs, Blackrock, and ESG
- Woodmac on the move: who can afford to drill a cube?
- Polarizing capex guidance from US focused operators
- A ceasefire in the trade war
- Debt markets are actually open, but at what cost?
- EQT takes a hit
- Gas market refresher
- Corpus is now the key crude export hub
- More thoughts on PDP deals
- WPX's notable notes
- Range Resources’ extreme dividend move
- ICYMI: what the market is telling us about costs in 2020
Tables and charts
This report includes 26 images and tables including:
- Map of Delaware basin earthquakes since 2000, highlighting 2020 seismicity
- Number of coronavirus cases in counties with oil and gas drilling, 23 March 2020
- US GoM deepwater lease sale
- Cumulative horizontal rig additions since December 2019
- Apache’s Alpine High liquids type curves
- Kosmos net entitlement production
- European operators’ GoM profile
- February 2020 Permian short term and WTI outlooks
- Map of all Lower 48 horizontal wells and federal lands
- Map of Delaware basin earthquakes since 2000
- Bakken wells - cumulative 180-day gas rates
- Average NE STACK declines by well vintage
- Midland Basin Wolfcamp decline parameters over time
- NPV under varying cost and production performance scenarios with four cubes developed per year
- 2019 to 2020 change in capex
- US onshore deal count
- Northeast short-term gas production and rig forecast
- D&C well cost changes from 2018 to 2020 for Permian
What's included
This report contains:
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