Business/economics
Proposed and final notices of sale represent nearly 80 million acres in the Gulf of Mexico and approximately 1 million acres in Alaska’s Cook Inlet.
The US and UK sanctioned Russian independent Lukoil International and state-owned Rosneft in a bid to pressure Russia over Ukraine.
Ranger acquires American Well Services for $90.5 million, adding 39 workover rigs and boosting its fleet by 25%.
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On 9–11 October, the Society of Petroleum Engineers (SPE) will again assemble exploration and production (E&P) professionals from around the world for the 2017 Annual Technical Conference and Exhibition (ATCE) at the Henry B. Gonzalez Convention Center in San Antonio, Texas, USA.
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Many of the biggest players in the industry—particularly the majors—have adapted their portfolios for “lower for longer” and are once again sanctioning big projects. While we are not back to the heady days of 2010–2014, we have left behind the dark days of 2015–2016. -
SPE’s annual meeting will feature leading executives from Baker Hughes and Devon as well as other industry leaders.
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The world still needs oil and gas, but it is also making room for renewable energy which will change how upstream companies do business.
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Oil demand growth from the transportation sector, the linchpin of oil consumption, will slow to a trickle by 2035 and level off, while demand from the petrochemicals sector will become oil’s chief growth driver, the BP 2017 Energy Outlook says.
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The composite upstream economic index for Texas increased for the eighth consecutive month due to a number of factors, including increased rig count, drilling permits, and upstream employment figures.
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One person who has given a lot of thought to what the oil and gas industry might look like when it can no longer count on a growing consumption from the transport sector is Iskander Diyashev, an instructor for PetroSkills and a former SPE Director who is serving as an SPE Distinguished Lecturer in 2017–18 for the second time. His current lecture topic is The Future of…
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LNG as a fuel source has been an energy staple for many Asia-Pacific countries for decades, and is increasing in importance in other regions as countries look to diversify their energy mix.
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Despite a decline in oil and gas production and a decrease in revenue from 2015, an Ernst & Young’s study had a cautiously optimistic outlook as the industry adjusts to what it called “the new normal” of a lower, but stable, oil price.
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Acteon Group is buying Actuant’s Viking SeaTech business at a steeply discounted price of $12 million compared to the $225 million that Actuant paid in 2013 to acquire the company, and Actuant is buying Acteon’s Mirage for $16 million.
