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With the Q4 reporting season coming up, we thought it would be a good time to take a look at the current state of inflation in the oilpatch. We’ve put together lots of data from the last 5 years, and have presented it in our various charts below, which will be part of our BOE Intel offering that is coming soon. We currently have over 30 public companies included in our dataset, from a company as big as Canadian Natural Resources , down to the 5,000 boe/d producers. What’s become apparent in looking at the data is that due to an uptick in industry activity levels, combined with tightness in labour and materials, inflation does appear to be sticking. Tourmaline noted as much in the company’s recent operational update, noting that “inflation was on average 7% higher in the second half of 2022 than the 18% inflation contingency previously assumed in the mid-2022 outlook.” If a company such as Tourmaline, one of the best operators in the business and one of the lowest cost producers, is seeing this type of inflation, then it is certainly something for the rest of the industry to pay attention to. Through the end […]
CamTrader offers a preview only. View original article. boereport.com
