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LATEST NEWS
Spending Cuts First, Job Cuts Are Next
Oil exploration and production jobs globally are at about the level they were after deep cuts following the 2014 crash. Now companies need to find more to cut.
UPDATE: Oil Industry Budget Cuts Adding Up Across the Globe
The list of companies that are slashing millions and sometimes billions from their annual spending programs is growing longer as the ripple effects of a price war and pandemic spread across the globe.
Schlumberger Reduces Capital Spending, To Focus on International Basins
The company is preparing for logistical disruptions as countries implement more restrictions due to COVID-19 and plans to focus resources and capital on “resilient” international basins.
Chevron Hits the Brakes on Permian, Cuts $8 Billion Across Company
The international major has lowered its output forecast in the world’s most prolific unconventional basin by 20%.
European Gas Demand and Power Consumption Estimates Revised on COVID-19
Gas demand is expected to grow by just 2 Bcm in 2020, down from previous expectations of 6 Bcm. The Netherlands, UK, Germany, and Spain are expected to see the biggest impact.
Global Upstream Industry Moves Into Survival Mode
As the fallout deepens from the coronavirus pandemic and the global collapse in oil and gas prices, oil- and gas-producing regions around the world are feeling the pain.
Industry Faces Long Road to Recovery
Leaders of Rystad Energy went online recently to talk about the effects of the coronavirus pandemic on the oil and gas industry, and the prognosis isn’t good.
Is Depression-Era Production Regulation What OPEC Really Wants To See?
The notion that the state of Texas could help oil producers by limiting production at a time when the market is glutted has a real history in Texas, but an iffy future.
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Developing a reservoir with current capex constraints requires innovative technology to provide reliable reservoir production insight. This article describes how chemical tracer technologies can be integrated into reservoir development plans to reduce risk, minimize capex, and maximize ROI.
Case Study: Actenum Scheduling Software Adds $510,000 to Operator Earnings
A US operator is using Actenum’s DSO/Upstream scheduling software to improve drilling program efficiency, adding $510,000 to annual earnings.
MONTHLY FEATURES
TECHNOLOGY FOCUS
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Greg StephensonSenior Engineering Adviser, Occidental Petroleum |
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Chris CarpenterJPT Technology Editor |
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PRESIDENT'S COLUMN
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Shauna Noonan2020 SPE President |
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PEOPLE
In Memoriam: C. N. (Tom) Tinker
18 March 2020
Clarence N. (Tom) Tinker, life member of SPE, and a geology evangelist died 11 March. Tinker was an...
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In Memoriam: Stanley Thurber
05 March 2020
Stanley Thurber, a longstanding SPE member and a well-known mentor in the reservoir engineering comm...
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Jim McGowin
26 February 2020
Jim McGowin, SPE, was appointed vice president for North and South America at Tendeka. McGowin has m...
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Barry Ekstrand
26 February 2020
MGB Oilfield Solutions appointed Barry Ekstrand, SPE, as vice president of strategy and commerciali...
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Robert Eifler
26 February 2020
Noble Corp. announced that Robert W. Eifler, SPE, will succeed Julie J. Robertson as president and C...
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In Memoriam: Michael J. Fetkovich
20 February 2020
Michael J. Fetkovich, SPE Distinguished Member and developer of the widely used Fetkovich type curve...
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