Can Deep Cost Cuts Sustain Growth in the UK North Sea?
Sharp reductions in operating expenses has rekindled growth and exploration in the UK North Sea, but this fragile recovery will require a continued luck in exploration drilling and a focus on holding the line on costs, which are still high.
Oil and Gas Discoveries Reach Four-Year High in 2019: Rystad
A total of 12.2 billion BOE was discovered worldwide in 2019—the highest volume in 4 years, with offshore regions dominating the list of new deposits.
Rystad Warns of Gloomy Start to 2020 for Oilfield Service Firms
Reduced investment in US shale will continue to weigh down the global oilfield services market through 2020.
Shale, Tight Oil Investments to Fall 12% in 2020; Global Deepwater Rising
Lower oil prices and capital discipline are expected to result in a double-digit drop in shale and tight oil spending, while deepwater momentum is seen continuing. This comes as “massive investments” will be needed in the next decade to meet growing oil demand.
Oilfield Service Firms Branch Out Past Oil and Gas
Service firms are diversifying their portfolios, in part driven by large-scale budget cuts among operators since the industrywide downturn.
BP Adds, Shell Subtracts Oil and Gas Resources
Heavy deal-making since 2015 by the two majors has resulted in very different upstream portfolios.
Rystad Says Permian Well Productivity is Just Fine
Despite reports to the contrary, Permian well productivity remains healthy, with average new production per well in the basin matching all-time highs, Rystad says. And the majors are now a main catalyst.
Oilfield Flares Provide a Glaring Reminder of the Drive To Produce More Oil
Oilfield flares are a bright indicator of rapidly rising oil production that exceeds pipeline capacity. And it raises the question: Why are oil companies in such a hurry?
Don't miss out on the latest technology delivered to your email weekly. Sign up for the JPT newsletter. If you are not logged in, you will receive a confirmation email that you will need to click on to confirm you want to receive the newsletter.
06 January 2020
07 January 2020
07 January 2020