February 12, 2019
Pure-Permian player Diamondback Energy holds the most valuable shale portfolio, according to Rystad Energy. The net present value (NPV) of this portfolio stands at around $51,000 per acre.
As the oil and gas industry gathers in Houston, Texas for the annual NAPE Summit Week – “where deals happen” – Rystad Energy ranks the companies by the assets they hold.
Diamondback, Occidental, Concho Resources and Pioneer Natural Resources are the companies with the most valuable shale portfolios in terms of NPV per acre, according to Rystad Energy research.
“All four are pure Permian operators with acreage spanning the Midland and Delaware basins. Even though their acreage positions are relatively small compared to other operators analyzed, their portfolios are largely focused in the core areas of the plays,” said Rystad Energy head of shale research Artem Abramov.
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Turning to absolute figures, Chevron emerges with the highest total NPV for its shale portfolio, at $72 billion. The company’s acreage in the Permian Delaware alone stands at nearly $60 billion in NPV, representing roughly 83% of Chevron’s overall shale portfolio.
ConocoPhillips, with an NPV of $18 billion, ranks 10th on the total value of its shale portfolio. The major has the lowest exposure to the Permian among the top ranked companies, with just 70,000 Delaware acres out of its total shale position of 1.5 million acres.
“Even so, the Delaware basin accounts for more than 30% of the total NPV of ConocoPhillips’ shale portfolio,” Abramov noted.
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Rystad Energy is an independent energy research and business intelligence company providing data, tools, analytics and consultancy services to the global energy industry. Our products and services cover energy fundamentals and the global and regional upstream, oilfield services and renewable energy industries, tailored to analysts, managers and executives alike. Rystad Energy’s headquarters are located in Oslo, Norway with offices in London, New York, Houston, Stavanger, Moscow, Rio de Janeiro, Singapore, Bangalore, Tokyo, Sydney and Dubai.