The following page is a summary of US based Oil & Gas Operators capital budgets and production outlook. I will update the post weekly.
Conocophillips
ConocoPhillips 2023 total capital expenditure guidance is $10.7 to $11.3 billion and production guidance is 1.76 to 1.80 million barrels of oil equivalent per day (MMBOED).
ConocoPhillips ranks #5 in wells drilled in 2022 with 298 wells drilled in the Mid Continent of the US. The Mid Continent region includes Texas, Oklahoma, New Mexico and Louisiana.
Conocophillips ranks #9 in air permits approved in 2022 with 47 permits in Texas.
Pioneer Resources
Pioneer expects its 2023 drilling, completions, facilities and water infrastructure capital budget to range between $4.45 billion to $4.75 billion oil production of 357 to 372 thousand barrels of oil per day (MBOPD) and total production of 670 to 700 thousand barrels of oil equivalent per day (MBOEPD).
Pioneer Natural Resources Company ranks #1 in wells drilled in 2022 with 525 wells drilled in the Mid Continent of the US. The Mid Continent region includes Texas, Oklahoma, New Mexico and Louisiana.
Pioneer Natural Resources ranks #2 in air permits approved in 2022 with 87 permits in Texas.
EOG Resources
EOG Resources, Inc. Total expenditures for 2023 are expected to range from $5.8 to $6.2 billion, including exploration and development drilling, facilities.
EOG Resources, Inc., ranks #2 in wells drilled in 2022 with 471 wells drilled in the Mid Continent of the US and ranks #11 in air permits approved in 2022 with 40 permits in Texas.
SM Energy
SM Energy Company Capital expenditures adjusted for capital accruals are expected to be approximately $1.1 billion, excluding acquisitions and Production volumes year-over-year are expected to remain flat to low single digit growth at 52.5-54.5 MMBoe, or 144-150 MBoe/d at 43% oil.
SM Energy Company ranks #25 in wells drilled in 2022 with 83 wells drilled in the Mid Continent of the US. The Mid Continent region includes Texas, Oklahoma, New Mexico and Louisiana. SM Energy Company ranks #4 in air permits approved in 2022 with 67 permits in Texas.
Diamondback Energy
Diamondback Energy Full year 2023 cash CAPEX guidance of $2.50 – $2.70 billion and 2023 oil production guidance of 256 – 262 MBO/d (430 – 440 MBOE/d).
Diamondback Energy ranks #4 in wells drilled in 2022 with 301 wells drilled in the Mid Continent of the US. The Mid Continent region includes Texas, Oklahoma, New Mexico and Louisiana and Diamondback Energy ranks #10 in air permits approved in 2022 with 46 permits in Texas.
Devon Energy Corporation
For the full-year 2023, Devon expects to sustain production in the range of 643,000 to 663,000 Boe per day. Total capital investment for the year is expected to range from $3.6 billion to $3.8 billion. Devon capital program in 2023 is weighted towards the first half of the year due to completion timing in the Delaware Basin and is expected to drive production higher throughout 2023.
Devon Energy Corporation ranks #7 in wells drilled in 2022 with 281 wells drilled in the Mid Continent of the US. The Mid Continent region includes Texas, Oklahoma, New Mexico and Louisiana.
Marathon Oil
Marathon Oil announced a $1.9 to $2.0 billion capital expenditure budget for 2023, Marathon Oil expects to deliver maintenance-level total Company oil production of 190,000 net bopd at the midpoint of its 2023 guidance range.
Marathon Oil Corporation ranks #13 in wells drilled in 2022 with 128 wells drilled in the Mid Continent of the US. The Mid Continent region includes Texas, Oklahoma, New Mexico and Louisiana.
Ovintiv
Ovintiv 2023 capital investment of approximately $2.25 billion at the midpoint, the Company expects to deliver total production volumes of 500 to 525 MBOE/d. This range reflects a flat production program relative to 2022.
Ovintiv ranks #14 in wells drilled in 2022 with 126 wells drilled in the Mid Continent of the US. The Mid Continent region includes Texas, Oklahoma, New Mexico and Louisiana.
Callon Petroleum
Callon expects to invest approximately $1 billion in 2023 and 2023 production expected to average 104 – 107 thousand barrels per day of oil equivalent (MBoe/d).
Callon Petroleum ranks #20 in wells drilled in 2022 with 104 wells drilled in the Mid Continent of the US. The Mid Continent region includes Texas, Oklahoma, New Mexico and Louisiana.
Matador Resources
Matador Resources drilling, completing and equipping capital expenditures of $1.18 to 1.32 billion and oil production guidance of 26.4 to 27.3 million barrels.
Matador Resources Company ranks #17 in wells drilled in 2022 with 133 wells drilled in the Mid Continent of the US. The Mid Continent region includes Texas, Oklahoma, New Mexico and Louisiana.
Coterra Energy
Coterra Energy Expected capital investment of $2.0 billion to $2.2 billion and expect annual average production of 610 – 650 MBoe/d, in line with 2022.
Coterra’s assets are primarily located in the Anadarko Basin, where it holds an acreage position of 182,000 net acres and in the Permian core acreage position includes 234,000 net acres.
APA Corporation
APA Corporation Reiterating upstream capital budget of $2.0 to $2.1 billion and production was 396,000 BOE per day.
APA Corporation’s subsidiaries have operations in the United States, Egypt’s Western Desert and the United Kingdom’s North Sea and exploration opportunities offshore Suriname.
Chesapeake Energy
Chesapeake Energy total expected capital expenditures of $1.765 – $1.835 billion and produced approximately 4.05 bcfe/d net (90% natural gas).
Chesapeake Energy ranks #21 in wells drilled in 2022 with 104 wells drilled in the Mid Continent of the US. The Mid Continent region includes Texas, Oklahoma, New Mexico and Louisiana.
Permian Resources
Permian Resources announced 2023 total capital budget of $1.25 to $1.45 billion and delivered fourth quarter oil production of 81.4 MBbls/d.
Permian Resources ranks #15 in wells drilled in 2022 with 124 wells drilled in the Mid Continent of the US. The Mid Continent region includes Texas, Oklahoma, New Mexico and Louisiana.
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