Permian Basin

IEEFA Research

IEEFA U.S.: LNG newcomer Tellurian asks investors to gamble on Driftwood project

IEEFA U.S.: LNG newcomer Tellurian asks investors to gamble on Driftwood project

Tellurian’s history, finances and new LNG deals raise questions about profitability

August 31, 2021 (IEEFA) — At first glance, Tellurian Inc.’s proposed Driftwood liquefied natural gas (LNG) project looks like a cause for optimism for the U.S. LNG market after a dismal 2020 saw demand and prices plummet while the COVID-19 pandemic raged. However, a closer look at Tellurian’s history, finances and structure of its newly […]

IEEFA: Despite strong Q2, ExxonMobil upstream continues to underwhelm

IEEFA: Despite strong Q2, ExxonMobil upstream continues to underwhelm

Exxon’s U.S. upstream division makes up little ground in the Permian Basin

August 9, 2021 (IEEFA) – ExxonMobil’s U.S. upstream operations have yet to regain their footing after a decade of turmoil. While the second quarter of 2021 was the company’s best in years, ExxonMobil has invested $61.5 billion on U.S. upstream capital projects since 2013, only to report $5.3 billion in cumulative losses. These losses may […]

IEEFA U.S.: Texas confronts decline in oil and gas industry

IEEFA U.S.: Texas confronts decline in oil and gas industry

Analysis of long-term trends indicates slower growth, fewer jobs and lower tax contributions

July 28, 2021 (IEEFA) ⎼ Texas policymakers, regulators and public opinion have long held that “what’s good for oil is good for Texas.” But Texas’s economy has become more broad-based and the oil and gas sector’s proportionate contribution has declined. State leaders face a new set of facts on the ground about the future of […]

IEEFA U.S.: ExxonMobil touts Permian Basin success but achieves mixed results

IEEFA U.S.: ExxonMobil touts Permian Basin success but achieves mixed results

Data suggests that ExxonMobil is underperforming in the Permian Basin

June 9, 2021 (IEEFA) – ExxonMobil’s claims that its Permian Basin oil and gas reserves are world-class will need the immediate attention of the new board, according to a new analysis by the Institute for Energy Economics and Financial Analysis (IEEFA). In recent investor presentations, ExxonMobil has highlighted the superior performance of its oil wells […]

More News and Commentary

IEEFA U.S.: Pioneer, other independents top supermajor production in Permian Basin
and

IEEFA U.S.: Pioneer, other independents top supermajor production in Permian Basin

ExxonMobil, Chevron lag Permian independent production despite claims of leadership

November 15, 2021 (IEEFA)—Although the Permian Basin is an important upstream growth target for Chevron and ExxonMobil, independent operators are the dominant producers in the area, according to an analysis by the Institute for Energy Economics and Financial Analysis (IEEFA). While ExxonMobil and Chevron have portrayed themselves as leaders in the Permian, the IEEFA analysis […]

and November 22, 2021 Read More →

Shell announces plan to move headquarters from Netherlands to UK

Wall Street Journal ($): Royal Dutch Shell PLC plans to consolidate its dual British and Dutch structure and relocate its headquarters to London, a move it said would help facilitate returns to shareholders and make it simpler to change up its portfolio of assets. The oil giant said Monday that bringing an end to its […]

November 16, 2021 Read More →

Shell sells Permian interests to ConocoPhillips for $9.5 billion

Texas Tribune: Energy giant Royal Dutch Shell sold its oil and gas business in the Permian Basin, the country’s largest oilfield, to ConocoPhillips for $9.5 billion cash on Monday. The deal is a major move for Shell, which produces more than 175,000 barrels of oil per day in the Permian Basin, as it faces pressure […]

September 21, 2021 Read More →

New U.S. solar capacity additions dip slightly but demand still strong

S&P Capital IQ ($): Solar power capacity additions in the second quarter of 2021 dipped compared to the year-ago period as developers encountered supply-side headwinds. However, demand remained strong, with a robust pipeline of projects totaling 17,428 MW under construction. Developers put into service 1,968 MW of utility-scale solar power capacity from April to June, […]

September 7, 2021 Read More →
IEEFA U.S.: LNG newcomer Tellurian asks investors to gamble on Driftwood project
, and

IEEFA U.S.: LNG newcomer Tellurian asks investors to gamble on Driftwood project

Tellurian’s history, finances and new LNG deals raise questions about profitability

August 31, 2021 (IEEFA) — At first glance, Tellurian Inc.’s proposed Driftwood liquefied natural gas (LNG) project looks like a cause for optimism for the U.S. LNG market after a dismal 2020 saw demand and prices plummet while the COVID-19 pandemic raged. However, a closer look at Tellurian’s history, finances and structure of its newly […]

Major oil companies flaring Permian gas without required permits

Reuters: Oil producers such as Exxon Mobil (XOM.N) and Royal Dutch Shell (RDSa.L) are burning off gas in the largest oil field in the United States without required Texas state permits, the environmental group Earthworks said in a report on Thursday. Energy producers flare gas, an unwanted by-product of oil extraction, when they cannot transport […]

August 20, 2021 Read More →

Controversial ExxonMobil Guyana project faces potential safety disaster

The Guardian: ExxonMobil’s huge new Guyana project faces charges of a disregard for safety from experts who claim the company has failed to adequately prepare for possible disaster, the Guardian and Floodlight have found. Exxon has been extracting oil from Liza 1, an ultra-deepwater drilling operation, since 2019 – part of an expansive project spanning […]

August 18, 2021 Read More →
IEEFA: Despite strong Q2, ExxonMobil upstream continues to underwhelm
and

IEEFA: Despite strong Q2, ExxonMobil upstream continues to underwhelm

Exxon’s U.S. upstream division makes up little ground in the Permian Basin

August 9, 2021 (IEEFA) – ExxonMobil’s U.S. upstream operations have yet to regain their footing after a decade of turmoil. While the second quarter of 2021 was the company’s best in years, ExxonMobil has invested $61.5 billion on U.S. upstream capital projects since 2013, only to report $5.3 billion in cumulative losses. These losses may […]

IEEFA U.S.: Texas confronts decline in oil and gas industry
, and

IEEFA U.S.: Texas confronts decline in oil and gas industry

Analysis of long-term trends indicates slower growth, fewer jobs and lower tax contributions

July 28, 2021 (IEEFA) ⎼ Texas policymakers, regulators and public opinion have long held that “what’s good for oil is good for Texas.” But Texas’s economy has become more broad-based and the oil and gas sector’s proportionate contribution has declined. State leaders face a new set of facts on the ground about the future of […]

IEEFA: ExxonMobil investors need to drill deeper to find the truth

IEEFA: ExxonMobil investors need to drill deeper to find the truth

Data suggests Exxon’s Permian well productivity falls short of promises

Late last month, ExxonMobil’s investors issued a stunning rebuke to the company’s management. At the annual meeting, shareholders elected three new board members over management’s objections. Much has been said about what upheaval means for cutting carbon emissions, but shareholders not only passed resolutions calling for greater climate responsiveness, they also demanded transparency. The shareholder […]