What is AFE Leaks?

AFE Leaks was created as a platform for creative and independent research focused on the oil and gas industry, with a particular emphasis on operations. Our mission is guided by four core principles:

  • Credibility

    AFE Leaks stands on a foundation of expertise and industry experience. Our founder’s background spans roles as a Reservoir Engineer, Managing Director for an international financial services firm involved in oil and gas debt and equity transactions, and Head of Lower 48 Corporate Research at a leading oil and gas consultancy. Building on this foundation, we continuously expand our network of industry experts to uphold and enhance the credibility of our insights.

  • Usefulness

    Our research is driven by a single question: Does this analysis provide tangible value to operators, service companies, or investors? Free from corporate subscriber bias and conflicts of interest, AFE Leaks leverages proprietary data to offer honest and actionable research. While our free-tier newsletter provides high-level commentary and fosters industry discussion, deeper, long-form research and access to interactive data tools are available at paid tiers, offering subscribers the ability to explore, analyze, and apply our findings.

  • Creativity

    At its heart, AFE Leaks was born as a creative outlet, free from the constraints of corporate influence. Our research approaches problems from innovative angles, often incorporating interactive elements and non-traditional methodologies to uncover unique insights.

  • Accessibility

    We believe that powerful analysis should be understandable and actionable, even for those unfamiliar with the nuances of the oil and gas industry. AFE Leaks prioritizes clear explanations of methodologies, findings, and their implications. For those interested in diving deeper, we often include reproducible code to empower subscribers to replicate and build on our work.


At AFE Leaks, we’re committed to fostering honest, useful, and innovative research while creating a community that values transparency and independent thought. Join us as we explore the operational and strategic challenges facing the oil and gas industry, one analysis at a time.

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Independent, data-driven insights and creative research on the operational and strategic dynamics of the oil and gas industry with a focus on capital expenditure transparency.

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Specialize in L48 upstream related research. Former Professional Background: Reservoir Engineer, Managing Director at Global Financial Services Firm, Head of L48 Corporate Research, Head of Corporate Analytics, Consulting Director.