US shale
Permian still primed for growth
Expansion prospects for the dominant oil shale basin remain in 2023
“The notion that somehow the Permian cannot grow, we do not believe is true. As long as WTI prices remain above c.$65/bl, it can and will grow. You are not going to hit the sweet spot exhaustion point until you get to the second half of the 2020s.” So says Raoul LeBlanc, vice-president, energy, at intelligence firm S&P Global Commodity Insights. And other analysts agree. Research firm Enverus forecasts Permian production rising by 400,000bl/d year-on-year— with associated gas up by 1.6bn ft³/d (45.3mn m³/d)—in 2023, while consultancy Wood Mackenzie expects the West Texas basin to account for more than 70pc of its almost 700,000bl/d annual increase in US onshore production, or c.490,000bl
Also in this section
2 April 2026
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
2 April 2026
The government is taking important steps to revive domestic production, lift investment and benefit from the geopolitical crisis even if more needs to be done in the longer term
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
