US upstream week in brief: Q4 2018 archive

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31 December 2018

US upstream week in brief: Q4 2018 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

  • Marathon making strides outside the Bakken core
  • Grading our 2018 predictions
  • Bone Spring type curve update – improvements in an old shale play
  • Will Permian Basin seismic events shake up operators’ plans?
  • An up and down update to SCOOP/STACK type curves
  • Profound shifts coming in BP's Lower 48 operations
  • Pressure pumpers caught between a rock and a hard place
  • Chevron bumps up its Permian budget
  • ExxonMobil using renewables to power the Permian
  • Delaware basin update: as lateral lengths go UP, per-foot productivity goes DOWN
  • Permian consolidation: a picture tells a thousand words
  • Constrained capacity sends Permian gas deals negative
  • Chevron captures the elusive Big Foot – first oil
  • What's driving our recent Permian model changes?
  • Asian companies question Permian sustainability
  • QEP exits the Haynesville to become Permian pure player
  • Cimarex makes an early New Years "Resolute-ion"
  • Halt in horizontal drilling in the Lance Pinedale
  • Overcoming the hurdles of the SCOOP-STACK
  • When is well spacing too close for comfort?
  • ProPetro purchases Pioneer's Permian pressure pumping
  • Operators continueto enhance Haynesville competitiveness
    • Should we expect more consolidation?
    • Water sourcing and disposal challenges continue to gain momentum
    • Crude takeaway constraints may not be as severe as they seem
  • Bakken value arbitrage: buyers need to speed up drilling in key areas
  • Reviewing the mineral rights deal between Continental and Franco-Nevada
  • U.S. Lower 48 onshore crude production growth surprises to the upside once again
  • Woodford JV is a hidden gem in the Encana deal
  • Big messages from US gas players' earnings
  • Crude For Thought – Opinions on last week's merger mania
  • Updated Lower 48 company acreage dataset
  • Encana STACKs up its US portfolio after acquiring Newfield Exploration
  • Are Midland Wolfcamp productivity gains slowing?
  • Chesapeake aims to address several strategic objectives in one big move
  • Denbury bets big on maturing Eagle Ford and acquires Penn Virginia Corporation
  • ConocoPhillips cash flow ticks up in the Eagle Ford
  • What do Colorado operators do if Proposition 112 passes?
  • Thoughts on stalled IPOs and exit strategies for privates
    • Comparison of NPV per well and breakevens within key oil plays
  • STACK tax: Will new Oklahoma production taxes phase operators?
  • Pressure to divest in the Delaware
  • Permian consolidation back again, or is it?
  • Chevron mulling Gulf Coast refinery as Permian soars
  • Wrap-up thoughts from our Houston Energy Forum
  • Range gets creative with royalty to reduce debt
  • Delaware Basin lateral lengths not quite there yet
  • After much delay, Atlantic Sunrise goes into full service
  • SCOOP-STACK operators have water on their minds
  • Eagle Ford acreage for sale along the Rio Grande
  • EPIC provides crude solution to Permian takeaway issues
  • Faster permitting in the Powder River may supercharge the play
  • California dreaming: CRC Investor Day full of optimism
  • Encana sharpens its focus with sale of San Juan assets
  • DUG Eagle Ford takeaways
  • Tigris runs into capital discipline
  • WildHorse continues its gallop into the northeast Eagle Ford
  • ConocoPhillips to exit the Powder

Tables and charts

This report includes 41 images and tables including:

  • Marathon Bakken map
  • Bone Spring type curve update
  • SCOOP/STACK type curve update
  • Chevron's Permian lateral lengths
  • Benchmarking depth and quality of remaining Wolfcamp and Bone Spring inventory
  • Permian gas production forecast vs. takeaway capacity
  • Adjusted Cash Flow
  • Map of QEP and Aethon Haynesville positions
  • Haynesville gross operated production
  • Delaware Basin Wolfcamp A oil-in-place (STOIIP) map with Cum365 gas-to-oil ratio (GOR)
  • Lance horizontal permits in Pinedale and Jonah fields, since 2016
  • Oklahoma play and trend abbreviations
  • Location of Continental and Franco-Nevada JV acreage
  • U.S. onshore crude production and month-over-month change
  • EOG's McClain wells
  • Penn Virginia Eagle Ford operated wells map
  • ConocoPhillips reduced Eagle Ford drilling, lowering capex for better cash flow
  • Potential impact on DJ Basin remaining NPV from Proposition 112
  • Horizontal permit activity by DJ Niobrara focused operators
  • Northern Howard County operated wells map
  • 1-section wells
  • 2-section wells
  • Permian supply forecast before and after EPIC pipeline conversion
  • Ratio of wells permitted to wells completed in the PRB
  • Encana portfolio bubble chart: Rocky Mountains are non-core assets
  • Chevron Gulf of Mexico index map
  • WildHorse's Eagle Ford position
  • Austin Chalk depth map

What's included

This report contains:

  • Document

    US upstream week in brief: Q4 2018 archive

    PDF 7.64 MB

  • Document

    US Upstream Week in Brief: Tigris runs into capital discipline

    ZIP 2.33 MB

  • Document

    Deepwater GoM Rig Map 12 19 2018.pdf

    PDF 215.39 KB