Business/economics
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.
After years of market shocks, technological breakthroughs, and rising uncertainty, ATCE 2026 will provide new insights on how industry leaders and technical experts are preparing for the next era of the upstream business.
This guest editorial examines why geothermal projects require a different planning, financing, and development approach than traditional oil and gas projects.
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Golden parachutes typically pay executives big money if they are fired without cause. Whiting Petroleum executives found a way to collect theirs for staying on board after the company they led filed for bankruptcy. -
UK North Sea oil and gas production is set to be maintained at normal levels despite the industry moving to "minimal manning" of offshore facilities in the face of the COVID-19 pandemic, trade body Oil and Gas UK's health and safety director, Trevor Stapleton, said.
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Amid continued health and travel concerns, the OTC Board of Directors felt this decision was the most feasible and responsible.
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The drop in gas prices, although greater than forecast, will not be to the same extent as oil prices.
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Most history-matching studies have fixed resources—that is, the team of engineers and geoscientists is predetermined. Moreover, the deadlines are always very strict. This constrained scenario often leads to an unfortunate result: The quality of the study suffers.
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The industry increasingly relies on forecasts from reservoir models for reservoir management and decision making. However, because forecasts from reservoir models carry large uncertainties, calibrating them as soon as data come in is crucial.
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The results of the authors’ research showed promising benefits from the use of a systematic procedure of model diagnostics, model improvement, and model-error quantification during data assimilations.
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The Denver-based shale producer is the first to cite the ongoing price war and COVID-19 pandemic as the triggers for its insolvency.
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Sandvik and SNC-Lavalin made similar announcements in late March and would take further action if necessary.
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The potential leasing of space in the SPR comes after the DOE’s plans to buy crude oil were suspended. US oil inventory stockpiles stand at a 10-month high.
