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
12 December 2025
The federal government is working with Alberta to improve the country’s access to Asian markets and reduce dependence on the US, but there are challenges to their plans
12 December 2025
The latest edition of our annual Outlook publication, titled 'The shape of energy to come: Creating unique pathways and managing shifting alliances', is available now
11 December 2025
The removal of the ban on oil and gas exploration and an overhaul of the system sends all the right messages for energy security, affordability and sustainability
10 December 2025
The economic and environmental cost of the seven-year exploration ban will be felt long after its removal
