Top 10 shale oil portfolios - News Stream

Who's big, and who's bigger?



Oil & Gas IQ
02/21/2019

Top_10_Shale_oil

On the back of a recent report by Rystad Energy, and in light of the growth of the US market to a total of 6 million barrels last year, up from less than half a million in 2010, it has been revealed that the total net present value of Chevron’s shale profile is the largest in the States.

The full transcript of this week's episode of News Stream is available below.

 

Shale oil is an unconventional oil, produced with techniques other than the conventional oil well method, by the thermal dissolution of rock into synthetic oil and gas. It is also often referred to as “light tight oil”.

So, without further ado, onto the Top 10.

The total value of Chevron’s shale reserves is currently hovering at around $72 billion, with over three quarters of the total value coming from the company’s holding in the Permian Delaware in West Texas and New Mexico.

Behind Chevron in terms of total NPV value is the independent oil and gas producer EOG Resources, which has become a major player in recent years due to its focus on delivering value to shareholders rather than maximizing growth. Amazingly, at $42 billion in their portfolio, they have relegated Shell to third, with a total NPV of only $31 billion.

Chevron is by far the largest of the portfolios, with roughly the same value as EOG and Shell combined, and the remainder of the top ten are much more similar in value – from $29 billion to $18 billion.

The values of the portfolios are as follows:

Chevron, sitting pretty at the top with $72 billion is followed by EOG and Shell, on $42 and $31 billion, respectively.

In number four is Anadarko, the petroleum and natural gas exploration and production company headquartered in Texas, with a portfolio worth $29 billion.

ExxonMobil comes in fifth with a value of $23 billion, followed by Concho Resources, operating primarily in the Permian Basin, to the tune of $22 billion.

The Occidental Petroleum Corporation, at $21 billion in NVP is the seventh-largest portfolio in the US, with Pioneer Natural Resources, the natural gas liquids company, narrowly coming in at eighth with $20 billion.

Rounding off the list are the recently-merged Diamondback Energy and ConocoPhillips with $19 and $18 billion in NVP, respectively.

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