U.S. Onshore Upstream Budgets Expected to Rise in 2018, Survey Says

As 2018 progresses, both budgets and spending are on the rise in upstream, with the clear leader, the Permian Basin, driving much of the surge, according to analysts observing onshore activity.  

A Barclays report released last month found the top 40 U.S. onshore producers have already increased their spending by up to 9% since last year. While increased budgets are hardly surprising given the way Oil & Gas industry has soared in recent months, it is less clear where companies plan to allocate the extra spend.

While operators and stakeholders in upstream E&P may plan to stay the course and simply increase their stake, an investment in technology should be at the top of the list for organizations looking to capitalize on budget increases.

 Most companies recognize the need to improve their technology infrastructure, according to a recent Accenture survey [LINK TO ACCENTURE POST], and Lower48 Analytics’ general release presents the perfect opportunity for these companies to improve infrastructure and amp up returns. To maximize  increased budgets and yield the highest returns for the budget increase, upstream stakeholders should invest in their technology infrastructure  - and this investment is likely to represent a minimal portion of the overall budget increase.

Lower48 Analytics has launched at a critical time for the industry, as this new, state-of-the-art software provides the data analytics and portfolio management capabilities these companies need to realize the maximize returns from increased spending capability. And for big players in the industry, an investment represents a minimal fraction of an increased budget.

With Lower48 Analytics’ ability to integrate with any existing technology infrastructure, the software can provide the best asset valuation capabilities possible to stakeholders - before they spend.

Stakeholders need to improve their ability to analyze and purchase the right acreage at the right time, and Lower48 Analytics is the solution – right now. Timing is critical, as the Oil & Gas industry has ignited, and increased budgets are likely to continue to explode, offering investors more opportunities to claim precious acreage in powerhouse basins like the Permian and the Eagle Ford.

If you are interested in learning more about how you can invest in your technology and win advantage ahead of the rush with Lower48, please call (512) 862-7824, or email sales@lower48.net.

Mitch Holt