Business/economics
The long-term outlook analysis says a potential shift toward new construction could push 2026 production 3% above 2025 levels.
Lower operating expenditures and a changing asset mix helped UKCS operators cut average production costs by 9% year over year, despite relatively flat production levels, according to the NSTA.
The deal adds 40,000 B/D of production and expands Cenovus’ SAGD footprint with three Alberta assets.
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Upward momentum in US industry operations continues to gather, as the survey conducted by the Federal Reserve for the just-completed fourth quarter of 2017 indicates. -
Technical Directors have a range of things to work on for 2018 that add value at a time when resources are scare.
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Low oil prices that forced operators to slash upstream spending budgets has led to the lowest level of discoveries in decades.
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Congress is close to lifting a 40-year-old ban on energy development in Alaska’s Arctic National Wildlife Refuge, but drilling for oil in that frozen wilderness may still be years away as the effort faces exhaustive environmental reviews and likely lawsuits.
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McDermott and CB&I will form a vertically integrated onshore-offshore construction and engineering services provider. Other deals include Jacobs Engineering Group acquiring CH2M and the expected close by year end of the Schlumberger and Weatherford OneStim JV.
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With their newly refined portfolios, operators are looking toward growth in the coming years but will remain cautious given ever-changing industry economics.
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Leaner business approaches have led to guarded optimism in the industry. While no bonanza is yet being trumpeted, the road to recovery appears to be smoothing out for the operators. But what about the oilfield services companies? How are they faring?
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The papers highlighted in this article cover technical assessment of unconventional resource plays, portfolio optimization, and technology development, all very relevant in today’s environment.
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The objective of the complete paper is to present an integrated work flow that can be used to build P90, mean, and P10 type wells, which represent the range of potential outcomes for the geologic subset in an unconventional resource play.
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One E&P company has found that implementing and sustaining a portfolio process require technical solutions and application of best practices for three critical elements: production forecasting, project modeling and economic evaluation, and portfolio management and decision making.
