Asset/portfolio management
The latest energy survey by the US Federal Reserve Bank of Dallas once again reflected the direct impacts of the now 7-month conflict between the US and Iran. Oil and gas executives were queried on a range of topics that included the state of the US Strategic Petroleum Reserve (SPR), Persian Gulf crude exports, and the direction of oil prices.
As the pace of new discoveries slows and high-quality prospects become harder to find, oil companies may need to rely more heavily on mature fields to maintain production and support future supply.
EY reports an 11% decline in reserve additions and the first sub-100% reserve replacement ratio since 2021, even as crude output climbed.
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By acquiring 100% of Ventura’s outstanding shares, SED Energy Holdings would scale its business into a combined $1 billion company backed by a $1.3 billion contract backlog focused on deepwater drilling, shallow-water tender rigs, and seismic acquisition. -
TotalEnergies has signaled its intent to reenter Venezuela after a 5-year absence, while Halliburton has teamed up with Brazil’s independent natural gas operator Evena and Venezuelan engineering firm WESCA to also assess business opportunities.
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Since the start of the Ukraine war, Norway has replaced Russia as the top gas supplier to the EU and Britain by maximizing its pipeline capacity and LNG volumes through its interests in export facilities in Norway and the US, as well as regasification in Europe.
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This article from the SPE Integrated Reservoir Management Technical Section (IRMTS) examines the closed-loop IRM approach, from insight to execution to learning, and the limits of technology-driven solutions.
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DNO outbid Genel Energy for the deal, which Genel said it may challenge, according to a filing with the London Stock Exchange.
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The supermajor expects output to double to about 600,000 B/D as a result of a new agreement with one of its joint ventures in Venezuela.
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Oil prices are high, but spending has not caught up—yet. Meanwhile, exploration strategies are changing around the world toward a lower-risk model, and the frenzied pace of US M&A has very much cooled off.
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This paper aims to optimize well trajectories in offshore reservoir development by applying a Pareto-based multiobjective approach.
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This article from the SPE Research and Development Technical Section offers new insights to how the upstream industry can benefit from the emergence of quantum computing.
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The sale of Woodside’s Calypso stake to BP completes the company’s withdrawal from Trinidad and Tobago after decades of operations in the country.
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