Business/economics
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 epands Cenovus’ SAGD footprint with three Alberta assets.
The Federal Reserve Bank of Dallas’ third-quarter energy survey reflects industry views on the drawdown of the US Strategic Petroleum Reserve, the outlook for Persian Gulf crude exports, and expectations for oil prices.
-
In the Price of Oil, Roberto Aguilera and Marian Radetzki predict a dramatic increase in shale oil and other tight oil production from about 4 million BOPD today to as much as 40 million in 2035. This will have a limiting effect on oil price. -
Panelists at CERAWeek discussed the numerous steps their companies are taking to achieve large-scale permanent, in addition to cyclical, capex reductions on major projects.
-
As oil companies struggle with the collapse in crude prices and industry upheaval, assessing the future of exploration and production (E&P) in specific countries requires a longer term vision of a market in which prices will have stabilized and rebounded to a level yet undetermined.
-
Plunging oil prices led to a drastic drop in drilling rigs working in most places in the world, with a notable exception. Baker Hughes’ widely watched weekly report on drilling rigs shows activity has remained steady in Saudi Arabia and the Middle East.
-
Those who track drilling and fracturing equipment are apt to mention zombies. That is the living-dead machinery still counted as available to work, but more likely now to be used for spare parts or scrapped.
-
During a protracted period of depressed prices in E&P, the customer focus for service companies and suppliers shifts to finding ways to reduce the cost of producing a barrel of oil.
-
Pressure is growing this year for exploration and production (E&P) companies to “face the reality of a prolonged period of low prices,” said Alan Cunningham, technical director for Gaffney, Cline & Associates.
-
Predictions of a 2016 recovery in the exploration and production (E&P) sector became increasingly rare after 2015 ended with a thud as oil prices sank below USD 40/bbl.
-
Iran’s oil and gas sector has been significantly affected by the introduction and tightening of international sanctions in recent years. represents a significant step forward in terms of normalizing the country’s relations with the global community.
-
The need for cost and capital efficiency calls for careful integration of technical and commercial elements.
