Key Permian Oil and Gas: Company Production Profiles
Permian companies’ production profiles
In this part of our series, we’ll examine the production profiles of top Permian oil and gas companies and compare their recent performances to each other. We’ll examine companies like Apache (APA), Concho Resources (CXO), Occidental Petroleum (OXY), and Pioneer Natural Resources (PXD).
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The image above shows how the majority of these companies saw over 30% of their total production come from the Permian Basin in 1Q17. While CXO and PXD saw a YoY (year-over-year) increase in production (as compared to 1Q16 levels), APA and OXY saw declines of 17% and 11%, respectively. This is similar to trends we examined in a previous Market Realist series, which compared 3Q16 numbers.
Eagle Ford and Bakken Players
Average realized prices
CXO saw the highest realized crude oil prices in 1Q17, while OXY and PXD saw relatively lower realized prices. Eagle Ford producer EOG witnessed a crude oil price realization of $50.38 per barrel in 1Q17, while COP’s total realized price was $50.86 per barrel in 1Q17.
Continental Resources’ average realized price of crude oil (excluding hedges) was $44.69 per barrel in 1Q17. WLL’s average realized price for crude oil (including hedges) was $44.12 per barrel in 1Q17.