CALGARY, Alberta (Oct. 13, 2026) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the leading energy data analytics platform, is releasing a series of reports examining inventory, economics and development trends across key oil and gas basins. Building on EIR’s recent analysis of North American drilling inventory and resource life, the organization is focused on how those broader trends are unfolding across individual plays. The latest analysis focuses on the Anadarko Basin, which leads major Lower 48 plays on full-cycle economics at $60/bbl as its inventory base expands and private operators assume a larger role in development.
EIR identifies 8,055 gross operated locations in the Anadarko Basin, including 1,554 that break even below $50/bbl WTI on a PV-10, half-cycle basis. Gross inventory increased by 2,175 locations, or 37%, year over year as economic viability expanded across the Northwest, Cherokee and Merge areas. The report attributes the basin’s leading full-cycle economics at $60/bbl in part to comparatively lower acquisition costs.
That improving inventory position is unfolding alongside a significant change in basin ownership. Most public operators have exited the Anadarko, reducing their share of operated production from approximately 50% in 2020 to 25%, while private operators now control 70% of gross operated inventory. More than $4 billion in M&A has transacted year to date, with asset-backed securitization buyers playing a prominent role in recent transactions. EIR forecasts the basin’s production base will grow 15% through 2030.
“Operators across the Anadarko are consolidating as inventory expands across Cherokee and Merge. At the same time, the operator mix has shifted materially, with private capital taking a larger role as many public companies have reduced or exited their positions. Together, those trends are reshaping the basin’s development and consolidation outlook,” said Ryan Hill, principal analyst at EIR and report author.
Key takeaways:
- The Anadarko leads major Lower 48 plays on full-cycle economics at $60/bbl, supported by lower acquisition costs relative to other major plays.
- EIR identifies 8,055 gross operated locations, including 1,554 locations with breakevens below $50/bbl WTI on a PV-10, half-cycle basis.
- Gross inventory increased by 2,175 locations, or 37% year over year, as viability expanded in the Northwest, Cherokee and Merge.
- Public operators’ share of operated production has declined from approximately 50% in 2020 to 25%, while private operators control 70% of gross operated inventory.
- More than $4 billion in M&A has been transacted year to date, and EIR forecasts the production base will grow 15% through 2030.
EIR’s analysis pulls from a variety of products including Enverus ONE™.
Play Fundamentals is an EIR research series that dives into a key geographical basin or technology. As a collective series with each play updated annually, it includes technical research and interactive maps, investment opportunities, benchmarking, macro trends and basin analytics, empowering readers to make intelligent connections and, overall, more informed investment, operating and strategic decisions. It is considered the most in-depth research EIR offers and among the most-read analysis series in the energy industry.
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About Enverus Intelligence® Research
Enverus Intelligence ® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts; and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. Enverus is the most trusted, energy-dedicated SaaS company, with a platform built to create value from generative AI, offering real-time access to analytics, insights and benchmark cost and revenue data sourced from our partnerships to 95% of U.S. energy producers, and more than 40,000 suppliers. Learn more at Enverus.com.
