Westwood Global Energy Group
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Subsidies lapse while others take hold in a bid to bolster offshore wind energy capacity around the globe. -
Through the end of October, 38 rigs have been retired this year. Predicting future rig attrition is not an exact science, but certain metrics help identify those rigs.
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Westwood Global Energy’s analysis looks at production, cost, and revenue estimates in the UK and Norway, should oil prices remain low. The research group also provided an outlook on drilling activity.
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In the fast-moving US shale sector, no market trend seems to last long. The pressure pumping market exemplifies the maxim.
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Companies are bringing satellite monitoring to the unconventional oilfield—namely the Permian Basin—where they are training machine learning models to track and predict drilling and completions work.
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Drilling and completion expenditure and activity is projected to show multiyear double-digit growth from 2018–2022 despite a flattening of rig count increases.
