Emmanuel Ricolfi

Drill more, grow more. That was the basic premise that fueled the US shale revolution. But with Tier 1 inventory depleting, commodity prices becoming more volatile, and most basins in the Lower 48 approaching peak output, that premise no longer holds. For independent operators, the question is how to effectively operate a maturing asset base. Growth-era strategies—prioritizing production volume, funding activity from the balance sheet, and deferring cost discipline—are no longer enough to win.

Oil and gas companies face an unprecedented opportunity to build low-carbon businesses. Investments in technological innovations and smart strategies can position them as leaders in the energy transition. Oil and gas companies have a major role to play in the energy transition, particularly in low-carbon solution (LCS) development. They are uniquely positioned to innovate and apply LCS at scale.