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North American Natural Gas Breakeven Cost by Basin
April 30, 2025
Incorrys prepared a comprehensive analysis of North American natural gas full cycle costs (Q1 2022 through Q3 2024) for all major producing basins in both the US and Canada. In a market with intense competition for Capex and return on investment (ROI), full cycle costs are a crucial tool to compare investment opportunities. Full cycle costs in this analysis include an uplift from sale of liquids produced. Duvernay has the lowest fully cycle cost at just USD $0.67/Mcf due to having the highest liquids uplift at $2.31/Mcf. However, Duvernay has limited resources in liquid rich and superrich areas compared to other basins.