At the 2023 ADI Forum, Dustin Stolz, Senior Analyst, ADI Analytics, reviewed Upstream oil and gas trends, noting record profits and low reinvestment rates as operators prioritized debt reduction and shareholder returns. Windfall taxes in Europe had prompted investment cutbacks and legal challenges, with companies like ExxonMobil and TotalEnergies reassessing future projects. Despite concerns over tier-one acreage depletion, new well productivity declines, and lower formation pressures, upstream activity remained strong, particularly in offshore leasing rounds in the UK and Norway.
The forum also highlighted rising artificial lift adoption, driven by maturing shale plays and infrastructure improvements. Public operators had increased rig activity, shifting the balance away from private firms. Additionally, carbon sequestration efforts had expanded, transitioning from enhanced oil recovery (EOR) applications to long-term storage projects, with future investments coming from downstream industries. Industry leaders emphasized strategic capital allocation and technological innovation to navigate evolving market conditions.
About ADI Analytics
ADI is a prestigious, boutique consulting firm specializing in oil and gas, energy, and chemicals since 2009. We bring deep expertise in a broad range of markets where we support Fortune 500, mid-sized and early-stage companies, and investors with consulting services, research reports, and data and analytics, with the goal of delivering actionable outcomes to help our clients achieve tangible results.
We also host the ADI Forum that brings c-suite executives together for meaningful dialogue and strategic insights across the oil & gas, energy transition, and chemicals value chains. Learn more about the ADI Forum.
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