Evercore

U.S. Land Oil, Gas Permitting Ticked Higher in March, but Still Off from Year Ago

U.S. Land Oil, Gas Permitting Ticked Higher in March, but Still Off from Year Ago

Lower 48 oil and gas permitting requests increased in March, up 26% over February, according to a compilation of federal and state data compiled by Evercore ISI. The analyst firm reported that 3,418 permits were issued in March versus 2,719 in February. The overall permit total this year, though, remained 1,018 lower than in March…

May 3, 2024
Drilling Permits on the Uptick in Lower 48 Natural Gas Plays 

Drilling Permits on the Uptick in Lower 48 Natural Gas Plays 

Drilling permits in the natural gas-rich Marcellus, Utica and Haynesville shale plays showed strong month/month growth in December 2023 but remained 16% below the December 2022 total, according to the latest tally by Evercore ISI. The three formations, which together supply about 53% of Lower 48 gas output, had a combined issued permit count of…

January 30, 2024
Lower 48 Oil, Natural Gas Permitting Tumbles in November, Led by 18% Dip in Permian

Lower 48 Oil, Natural Gas Permitting Tumbles in November, Led by 18% Dip in Permian

Oil and natural gas permitting in the Lower 48 fell by double-digits in November from a month earlier, driven by losses in the Permian Basin, according to Evercore ISI. The analyst firm, which each month tracks state and federal permitting, said a total of 2,565 permits were issued in November, down by 11% month/month (m/m). …

December 26, 2023
Oil, Natural Gas Permitting Tick Up in Rockies as Permian, Marcellus Dip

Oil, Natural Gas Permitting Tick Up in Rockies as Permian, Marcellus Dip

Oil and natural gas permitting in the Lower 48 slowed down sequentially in October, although the monthly permit count was up on both a year/year basis and when compared to pre-Covid October 2019 numbers, Evercore ISI data show. Operators filed a total of 3,308 permits last month, down 16% from September but up 25% versus…

November 21, 2022
Lower 48 Oil, Natural Gas Permitting Slumps, but Up from Year Ago

Lower 48 Oil, Natural Gas Permitting Slumps, but Up from Year Ago

August natural gas and oil permitting across the Lower 48 reversed course from July, particularly in the Permian Basin, but activity still was higher than a year ago, according to data compiled by Evercore ISI. New well permitting declined in August by 3,106 month/month (m/m). Still, the tally last month was 27% higher than in…

September 19, 2022
Lower 48 Oil and Natural Gas Permitting Dips Again in June as Texas, Louisiana Slip

Lower 48 Oil and Natural Gas Permitting Dips Again in June as Texas, Louisiana Slip

June is usually a strong month for U.S. oil and gas permitting, but activity overall dipped for the second month in a row, according to an analysis by Evercore ISI. The investment firm each month compiles a rundown of permitting activity in the United States using state and federal data. According to Evercore, June saw…

July 18, 2022
U.S. E&P Capex Said Roaring Higher as Upstream Fundamentals Strengthen

U.S. E&P Capex Said Roaring Higher as Upstream Fundamentals Strengthen

Global oil and natural gas upstream spending is climbing sharply higher from initial 2022 forecasts, with North America likely looking at a 33% jump from last year. Evercore ISI last December in its global upstream capital expenditure (capex) survey, said the average increase over 2021 would be 16%. However, exploration and production (E&P) companies worldwide…

July 18, 2022
Lower 48 Permitting Slips as Permian Dips, but Haynesville, Eagle Ford, Bakken Rip

Lower 48 Permitting Slips as Permian Dips, but Haynesville, Eagle Ford, Bakken Rip

The U.S. oil and gas drilling rig count is steadily rising, but permitting activity is a bit more wobbly, as the Lower 48 recorded a double-digit monthly dip in May. According to data compiled by Evercore ISI using state and federal information, Lower 48 permitting plunged by 17% in May, month/month (m/m). The Permian Basin…

June 22, 2022
U.S. E&Ps Returning Cash to Shareholders, but Is Output Also Set to Climb?

U.S. E&Ps Returning Cash to Shareholders, but Is Output Also Set to Climb?

Natural gas and oil demand has risen since Russia invaded Ukraine in late February, but exploration and production (E&P) executives in first quarter conference calls clung to capital discipline, favoring shareholder returns over boosting output. With the quarter now in the rearview mirror, a myriad of questions remains to determine the direction of U.S. activity…

June 2, 2022
U.S. LNG Output Tested as Natural Gas Prices Crater Worldwide

U.S. LNG Output Tested as Natural Gas Prices Crater Worldwide

Domestic liquefied natural gas (LNG) exports have remained steady and are on track to finish the month well above year-ago levels as the market continues to be tested by word of new cargo cancellations and warning signs for what lies ahead.

April 23, 2020
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