News | August 29, 2023

Quantifying Unproven Inventory In The Permian

Geologically viable but unproven inventory at forefront as high-quality drilling locations become scarce over the next decade

Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS platform, has released a new report that quantifies the geologically viable but not yet economically proven inventory in the Permian Basin and investigates the associated impact this undeveloped resource has at the operator level and the supply outlook of the basin.

“Geologically viable but relatively unproven inventory across the Permian Basin will be at the forefront as high-quality drilling locations breaking even below $50 WTI become scarce over the next decade for many operators,” said Stephen Pratt, report author and Permian analyst with EIR.

“The incremental ~80,000 geologically viable locations across the Permian primarily breaks even between $50 and $70 WTI and will be sufficient to sustain production levels until ~2040 and extend the years of inventory remaining from 17 to 32,” Pratt said.

Key takeaways from the report:

  • Geologically viable (GV) inventory is an undeveloped resource ascribed to locations that fall outside the economically proven extents across the Permian Basin but are within geologically viable fairways. This inventory adds 15 years of inventory at current drilling levels.
  • EIR has increased its long-term Permian Basin oil production forecast to sustain production levels until 2040.
  • EIR forecasts dry gas production from GV inventory will add an additional ~2.7 Bcf/d in the Permian in 2030.

About Enverus
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About Enverus Intelligence Research
Enverus Intelligence | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts; and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. EIR is registered with the U.S. Securities and Exchange Commission as a foreign investment adviser.

Source: Enverus