United States of America (USA) Lower 48 Unconventional Oil and Gas (Major Shale Plays) Market Analysis, Trends, Competitive Benchmarking, Deals and Forecast, 2021-2026
Oil and gas shale plays across United States L48 play a vital role in the economy of the country as nearly three-fourth of the current US crude production is obtained from the shale plays in the Lower 48 (L48) region. The US crude oil production has witnessed an upward trend in 2022 amid a strong recovery in global energy demand from the COVID-19 pandemic. The OPEC+ group had also considerably reduced its crude output to alleviate the global oversupply situation and lift prices. This encouraged the US operators to expand their drilling activities and thus, oil and gas output. Many oil and gas producers in the US shale plays have increased their capital allocation for 2022, attributing to improving market conditions.
US Lower 48 Crude Oil Production Outlook by Major Shale Plays
Crude oil and condensate production is reviewed across the four major oil shales of Permian Basin, Eagle Ford, Bakken, and DJ Basin. During 2022-2026, the US L48 crude oil and condensate production is projected to increase, predominantly in the Permian Basin. This can be attributed to its sustained investments from operators in drilling and completion of wells in this play and backed by the availability of a large skilled workforce. Well-developed infrastructure and the Permian’s proximity to the refining and crude export terminals at the Gulf Coast would also help in driving the crude production growth.
Annual Crude Oil Production Outlook Across Major Shale Plays
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US Lower 48 Natural Gas Production Outlook by Major Shale Play
Natural gas production is reviewed across the major gas shales of Marcellus, Utica, Permian, Haynesville, and Scoop Stack. During the 2021-2026 outlook period, the biggest contribution to natural gas production growth in the US is expected to come from Marcellus and Permian resource plays. Marcellus, which is the largest natural gas formation in the country, contributed nearly one-third of all the unconventional natural gas produced in the country in 2021. The Permian Basin is a prominent producer of associated natural gas that is released during the extraction of crude oil.
Annual Natural Gas Production Across Major Shale Plays
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The US Lower 48 - Mergers and Acquisition Activity
Mergers and acquisitions (M&As) always play a major role for E&P companies in remaining competitive in the US shale oil and gas industry. During 2021-2022, oil prices were in a recovery mode after the OPEC+ group and several other crude producers lowered their daily production to align with the COVID-induced demand slowdown. This recovery encouraged operators with relatively stable balance sheets to undertake M&A activity and acquire US shale drillers.
Oasis Petroleum completed a merger with Whiting Petroleum. Following the transaction, Whiting shareholders owned approximately 53% and Oasis shareholders owned approximately 47% of the combined entity on a fully diluted basis. The combined company was named Chord Energy.
The US Lower 48 Oil and Gas Market Competitive Landscape by Total Net Acreage
Some of the major operators in the US lower 48 oil and gas market by total net acreage are Occidental Petroleum Corp, ConocoPhillips, Chevron Corp, Apache Corp, Exxon Mobil Corp, Chesapeake Energy Corp, CNX Resources Corp, Pioneer Natural Resources Co, EQT Corp, and Southwestern Energy Co.
The US Lower 48 Unconventional Oil and Gas Market Report Overview
| Major Crude Oil Shales | Permian Basin, Eagle Ford, Bakken, and DJ Basin |
| Major Natural Gas Shales | Marcellus, Utica, Permian, Haynesville, and Scoop Stack |
| Major Operators | Occidental Petroleum Corp, ConocoPhillips, Chevron Corp, Apache Corp, Exxon Mobil Corp, Chesapeake Energy Corp, CNX Resources Corp, Pioneer Natural Resources Co, EQT Corp, and Southwestern Energy Co |
Scope
The report includes:
- Comprehensive analysis of crude oil and natural gas historical production in US L48 shale plays during 2019-26
- Detailed information on the well development, permits, and deals across US L48 shale plays during the aftermath of COVID–19 pandemic
- In-depth information on economic viability, well productivity, and well completion parameters across major shale plays in the US
- Analysis of top companies’ net acreage, and planned capital expenditure in 2022
- Up-to-date information on major mergers and acquisitions across major shale plays during 2022
Reasons to Buy
- Develop business strategies with the help of specific insights into the major shale plays in the US
- Plan your strategies based on economic viability and expected developments in the major US shale plays
- Keep yourself informed of the latest M&A activity across major shale plays
- Identify opportunities and challenges across major US shale plays
Table of Contents
List of Tables
List of Figures
Frequently Asked Questions
Crude oil and condensate production is reviewed across the four major oil shales of Permian Basin, Eagle Ford, Bakken, and DJ Basin.
Natural gas production is reviewed across the major gas shales of Marcellus, Utica, Permian, Haynesville, and Scoop Stack.
Some of the major operators in the US lower 48 oil and gas market by total net acreage are Occidental Petroleum Corp, ConocoPhillips, Chevron Corp, Apache Corp, Exxon Mobil Corp, Chesapeake Energy Corp, CNX Resources Corp, Pioneer Natural Resources Co, EQT Corp, and Southwestern Energy Co.
The US L48 crude oil and condensate production is projected to increase due to its sustained investments from operators in drilling and completion of wells in this play backed by the availability of a large skilled workforce.
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