Nine producers now control more than two-thirds of Permian oil supply, and five of them hold roughly half of what remains. After a decade of threefold growth that pushed the basin past 6 million barrels per day (bpd), and with more than 40% of global shale upstream capital still flowing into it, the conversation around the Permian has shifted from whether it can keep producing to who actually owns what is left.

Rystad Energy's geospatial inventory analysis finds 16 years of remaining inventory developable under $55 per barrel WTI on an NPV20 basis. On its own, that number suggests a basin with plenty of room to run, but it does not show where the inventory actually sits, or who controls it. The full whitepaper dives into: