?? 據(jù)美國(guó)鉆井網(wǎng)站2021年8月6日?qǐng)?bào)道，根據(jù)GlobalData的數(shù)據(jù)，盡管油價(jià)高企，美國(guó)頁(yè)巖生產(chǎn)商仍保持著嚴(yán)格的生產(chǎn)和資本指導(dǎo)方針。
這家數(shù)據(jù)和分析公司指出，投入新開(kāi)發(fā)的新鉆機(jī)增加速度遠(yuǎn)遠(yuǎn)低于之前的價(jià)格周期，大多數(shù)美國(guó)頁(yè)巖生產(chǎn)商正在把他們的生產(chǎn)和資本指導(dǎo)重點(diǎn)保持在保護(hù)資產(chǎn)負(fù)債表和產(chǎn)生自由現(xiàn)金流。
GlobalData強(qiáng)調(diào)，對(duì)于許多運(yùn)營(yíng)商來(lái)說(shuō)，這導(dǎo)致了在過(guò)去6個(gè)月里已開(kāi)鉆但未完鉆(DUC)庫(kù)存井的數(shù)量減少，以減少資本支出，同時(shí)保持產(chǎn)量水平。 GlobalData指出，目前美國(guó)國(guó)內(nèi)石油日產(chǎn)量平均約為1100萬(wàn)桶。
GlobalData上游油氣分析師Steven Ho在一份公司聲明中表示：“由于德?tīng)査局甑淖兓恍┑貐^(qū)的經(jīng)濟(jì)復(fù)蘇步伐存在不確定性，歐佩克+決定在2021年逐步增加產(chǎn)量，預(yù)計(jì)這將限制油價(jià)。”
“然而，由于生產(chǎn)商在2021年剩余時(shí)間內(nèi)采取了對(duì)沖策略，美國(guó)至少有三分之一的非常規(guī)油氣產(chǎn)量不會(huì)受到價(jià)格下跌的影響。 與此同時(shí)，這意味著，當(dāng)現(xiàn)貨價(jià)格高于預(yù)期時(shí)，一些運(yùn)營(yíng)商無(wú)法從中受益，因?yàn)樗麄兊膶?duì)沖操作實(shí)際上限制了他們能夠獲得的最高價(jià)格。”
Steven Ho 說(shuō)，“美國(guó)頁(yè)巖似乎找到了一種保持彈性的方法，并為任何時(shí)候的石油需求需要從非常規(guī)開(kāi)發(fā)中獲得更多原油做好了準(zhǔn)備。 運(yùn)營(yíng)商現(xiàn)在需要采取更低的價(jià)格方案，并傾向于以成本效益高的方式運(yùn)營(yíng)。 他們還必須解決持續(xù)產(chǎn)生自由現(xiàn)金流的問(wèn)題，繼續(xù)實(shí)施最佳的對(duì)沖策略，降低債務(wù)水平，以及實(shí)現(xiàn)碳減排目標(biāo)。”
GlobalData代表還強(qiáng)調(diào)，頁(yè)巖行業(yè)的整合預(yù)計(jì)將會(huì)增加。 本月早些時(shí)候，彭博社報(bào)道稱(chēng)，據(jù)知情人士透露，德文能源公司和康菲公司是研究殼牌公司在二疊紀(jì)盆地油田投資組合的潛在買(mǎi)家。 7月份，Penn Virginia 公司透露已與Lonestar資源美國(guó)公司達(dá)成最終合并協(xié)議，以全股票交易的方式收購(gòu)該公司。早在5月份，卡伯特油氣公司和Cimarex能源公司同意合并。
李峻 編譯自 美國(guó)鉆井網(wǎng)站
原文如下：
USA Shale Producers Stay Disciplined
U.S. shale producers are remaining disciplined with production and capital guidance despite high oil prices, according to GlobalData.
The speed at which new rigs are put to new developments is considerably less than in previous price cycles, the data and analytics company noted, adding that most U.S. shale producers are being conservative in their production and capital guidance as priorities remain around protecting balance sheets and generating free cash flow.
GlobalData highlighted that, for many operators, this has led to a drawdown of drilled but uncompleted (DUC) inventory wells in the past six months to reduce capital expenditure while maintaining production levels. U.S. domestic production is currently averaging around 11 million barrels per day, GlobalData outlined.
“Uncertainty around the pace of economic recovery in some regions due to the Delta variant, and OPEC+’s decision to gradually increase output throughout 2021, is expected to restrict oil price,” Steven Ho, an upstream oil and gas analyst at GlobalData, said in a company statement.
“However, at least a third of U.S. unconventional production is protected against a drop in price due to producers hedging strategies that are in place for the remainder of 2021. At the same time, this means that some operators are not able to benefit whenever there is a higher than expected spot price, as their hedging effectively puts a cap on the maximum price they can fetch,” he added.
“U.S. shale appears to be finding a way to remain resilient and prepared for whenever oil demand requires more crude oil from unconventional developments. Operators will now need to assume a lower price scenario and favor operating in a cost-efficient manner. They also must address concerns around sustaining the generation of free cash flow, keep implementing optimal hedging strategies, reduce debt levels, as well as meeting their carbon reduction targets,” Ho went on to say.
The GlobalData representative also highlighted that there is an expectation for increased consolidation across the shale sector. Earlier this month, Bloomberg reported that, according to people familiar with the matter, Devon Energy Corp. and ConocoPhillips are among potential suitors studying Shell’s portfolio of Permian Basin oil fields. Last month, Penn Virginia Corporation revealed that it had entered into a definitive merger agreement with Lonestar Resources US Inc. to acquire the company in an all-stock transaction, and back in May, Cabot Oil & Gas Corp. and Cimarex Energy Co. agreed to merge.
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