Wood Mackenzie

ExxonMobil’s ninth discovery offshore Guyana solidifies the area as a premium offshore basin.

Production from older wells in the Permian Basin is declining faster than widely assumed, according to a new study. If this trend holds, it could lead to problems for companies that are depending on those wells to pay for future development or to justify a big acquisition.

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.

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.

With their newly refined portfolios, operators are looking toward growth in the coming years but will remain cautious given ever-changing industry economics.

Projections of future production in the Permian Basin may came up short because new wells drilled near older ones are likely to yield less.

This well-established oilfield consultancy explains why 2020 might be a big year for the unconventional sector.