Offshore Enters Uncharted Waters
For the offshore sector, the collapse in oil demand and prices came just as the market was beginning to look up. Now many companies are focused on survival. This article discusses how various market segments, regions, and companies are faring in “the new reality.”
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.
Oil Price Crash Triggers Decisions To Slow Drilling
The prescribed treatment for market- and virus-induced oil price collapse is to quickly slow production growth. Two US shale companies moved swiftly to cut the pace of drilling and completions, but it is too soon to know if that will have any impact.
Global Deepwater Production Hits 10 Million BOE/D
The depth of the world’s offshore projects has steadily increased over the past 30 years—and so has its production base. The growth trend will continue thanks to new fields offshore Brazil, Guyana, and the US.
Wood Mackenzie: Peak Oil Demand Is Coming, Will Transform Exploration Sector
The confluence of alternative energies, shifting public sentiment, and the industry’s own improvements to existing fields may upend the industry’s “engine of growth.”
LNG at a Crossroads
In its first 50 years, LNG has become the world’s fastest-growing gas supply source and is now part of an upheaval in the global energy market. Today, the sector stands at a crossroads, and the industry must adopt new thinking to address current and future needs of buyers, sellers, and consumers.
Global Oil and Gas Exploration, Project Sanctions Expected to Rise in 2019
Financially healthier than in years past, operators are prepared to stave off the negative impacts of volatile oil markets in 2019 and advance their exploration and development programs.
ExxonMobil, Guyana “Hit the Jackpot”
ExxonMobil’s ninth discovery offshore Guyana solidifies the area as a premium offshore basin.
US Gulf of Mexico Production Projected To Hit Record High
Falling costs and breakeven prices, increased operational efficiencies, and favorable government policy are at the heart of a potential short-term boon in Gulf of Mexico production.
Majors to Feature Heavily in Global Upstream M&A Activity in 2018
With portfolios that in some cases look dramatically different from a few years ago, the majors now have the ability to think about long-term upstream growth through deal making.
Increased Spending, Project Sanctions to Fuel Global Upstream Resurgence in 2018
With their newly refined portfolios, operators are looking toward growth in the coming years but will remain cautious given ever-changing industry economics.
Permian Winning Streak Could Be Running Out
Projections of future production in the Permian Basin may came up short because new wells drilled near older ones are likely to yield less.
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26 May 2020