November 18, 2025

Permian natural gas full cycle costs at Henry Hub (HH) equivalent range from a low of USD $4.04/Mcf for wells with an Initial Productivity (IP) greater than 18 MMcf/d to a high of USD $15.94/Mcf for wells with an IP of under 3 MMcf/d without taking into account liquids uplift. Average Operating costs are USD $1.46/Mcf while royalties & taxes and overhead are USD $0.49/Mcf. F&D costs range from USD $0.55-$6.74/Mcf and the 15% producer return ranges from USD $0.50-$6.21/Mcf. The assumed HH differential is USD $ 1.04/Mcf.