Alternatives

July 1, 2023

E&P Third Quarter 2023

Appalachian Basin

Executive Summary

Appalachian production fared well over the last year, particularly considering the sharp decline in the Henry Hub price.  Despite the Henry Hub decline, the Appalachian rig count decline was less than that of two of the three oil-rich basins presented, largely due to Appalachia’s higher production declines, which require a higher rig count to maintain production levels.  

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Getting Its DUCs in a Row: Appalachia Keeps the Gas Flowing
Getting Its DUCs in a Row: Appalachia Keeps the Gas Flowing
Appalachian natural gas production remained steady despite declining drilling activity, supported by a significant reduction in drilled but uncompleted wells. Comparing production trends, commodity price volatility, and public company performance across major U.S. basins highlights the impact of LNG demand, infrastructure constraints, and changing market conditions.
Appalachian Basin Mergers and Acquisitions Update: October 2025 Through September 2026
Appalachian Basin Mergers and Acquisitions Update

October 2025 Through September 2026

Appalachian Basin M&A activity from October 2025 through September 2026 featured a mix of large strategic asset trades, mineral and royalty acquisitions, and non-operated investments. The transactions highlight a broadening buyer universe and the importance of interpreting valuation benchmarks in light of differing asset structures and strategic considerations.
How Do Reserve Categories Affect Oil and Gas Valuation?
How Do Reserve Categories Affect Oil and Gas Valuation?
Reserve categories influence oil and gas valuation through differences in recovery certainty, required capital, development timing, and exposure to execution risk. Understanding how PDP, PDNP, PUD, probable, and possible reserves differ helps support more defensible valuation assumptions and conclusions.

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