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The Dirt on the Permian Basin: Hot or Not?

PART:
1 2 3 4 5 6 7 8 9 10 11 12 13
Part 9
The Dirt on the Permian Basin: Hot or Not? PART 9 OF 13

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).

Key Permian Oil and Gas: Company Production Profiles

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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

The top players in the Eagle Ford include EOG Resources (EOG) and ConocoPhillips (COP). EOG reported a YoY rise of 18% in its 1Q17 production, while COP saw a rise of 2% in 1Q17 as compared to 3Q15.

The top players in the Bakken include Continental Resources (CLR) and Whiting Petroleum (WLL), which saw 1Q17 production fall 7% and 20%, respectively, YoY.

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.

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