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.
-
Seven years ago, the International Energy Agency (IEA) issued a report on the prospects of natural gas titled, Are We Entering the Golden Age of Gas? The answer appears to be not yet. -
From the highest courts of the US judicial branch to the C-suite, contests involving patents have recently come to the fore in the innovation hungry US oilfield services industry, even as filings and litigation have declined in recent years.
-
The Spanish E&P company plans to invest more than $11 million by the end of 2018 on startups working in established priority areas, which include resource reuse and sustainability measures.
-
An offshore survey identified a decrease in focusing on cost cutting and an increase in preparing to expand operations. With the oil prices above $60/bbl the impetus for negotiation for lower prices by companies and service providers appears to be waning.
-
ExxonMobil and Hess led the way in the most active regionwide US gulf lease sale thus far.
-
Diamondback is slated to become the Permian’s latest pure-play giant with its pending purchases of Energen and Ajax Resources.
-
If approved by the US Department of Transportation, the port facility would allow VLCCs and other tankers to directly load cargo, potentially removing a major hurdle for US crude oil exports.
-
While US onshore still holds an edge, international oil companies are finding attractive options for diversifying their portfolios, mixing onshore with offshore conventional fields, where finding and development costs are down , and the time it takes to bring them on line.
-
RDS, a KCA Deutag division, and Kavin Engineering and Services entered into a strategic alliance to jointly pursue design and engineering projects across the upstream and midstream oil and gas market. Last month, KCA Deutag agreed to form a joint venture with SOCAR.
-
Globally, a growing number of the general public and decision makers appear to have the opinion that climate change caused by greenhouse gases is likely. The E&P sector has the competencies and capabilities to develop mitigating solutions.
