Infill Thinking’s Follow The Leaders series distills key unconventional E&P strategies into real-time, digestible updates. The goal? Uncover future business opportunities and risks. Today we take a look at a new value creation strategy outlined by the leader in natural gas. The meaning of value creation in shale gas has changed. There’s a lot …
Read More »E&Ps Actually Underspent Budget In Every Major US Onshore Play During 1Q17
We actively monitor spending patterns for approximately 50 public independent operators. With virtually all of their 1Q17 results disclosed over the past week or two, we can now report some detailed insights on what their spending during the first quarter of the year means for the rest of 2017. There’s a lot …
Read More »Key Borrowing Base Survey Is Out. Findings Include Banker Amnesia & Loosening Purse Strings
Along with many others in the industry, we actively monitor the Haynes & Boone Spring borrowing base re-determination survey each year. Released this week, the law firm’s latest survey suggests that bankers have shrugged off the capital destruction left by the downturn’s 120 O&G bankruptcies. There’s a lot more to this …
Read More »Chevron’s 2017 Capex Budget Is Up 45% In The Permian, But Down Most Everywhere Else
Compared to PDC Energy’s budget release earlier this week, Chevron’s 2017 continuing budget cuts are a stark reminder of the divergence theme we first wrote about in early-November. That said, these budget cuts are impacting most every area except one, the Permian. We break down the majors budget for subscribers …
Read More »Capex Trends For Majors vs. Independents To Diverge In 2017, Except In Shale
BP and Shell updated their spending outlooks Tuesday morning. The two Majors echoed recent reports from their peers by again lowering planned capex spending. As Independents selectively spend a little more in 4Q16 and prepare to reverse their budget cuts next year, the Majors continue to systematically lower their total spend. Optically, …
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