Asset Management
This article from Murphy Oil outlines a modernization effort that resulted in increased scenario simulation capacity by five to 10 times.
The transaction is expected to strengthen the company's position in Alberta’s oil sands and unlock annual synergies of $54 million.
The transition away from materials that contain per- and polyfluoroalkyl substances (PFAS), co-called forever chemicals, creates an opportunity to preserve historical information. Information that appears to have little operational value today may later become important when organizations need to evaluate past PFAS use. Once that information is lost, recreating it may…
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Many companies too often focus solely on maximizing current production when they should really be focusing on maximizing profitability. A holistic, total asset modeling process is needed to reorient the focus of digital oilfield systems to focus on the net present value (NPV) of every project. -
More than 13,500 oil and gas professionals gathered at SPE’s Annual Technical Conference and Exhibition (ATCE) on 28–30 September in Houston, making it the second highest-attended ATCE.
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In SPE's annual salary survey, average total compensation dropped back to 2013 levels after an increase last year. Nonetheless, more than half of respondents reported that their base pay increased in 2015.
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The global industry is feeling the pain of the oil price plunge, but the UK feels it more acutely. Exploration drilling is at rock bottom levels, the offshore UK Continental Shelf is one of the world’s most expensive from which to produce a barrel of oil, and investment spending is expected to fall.
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Statoil is going to work to put its enormous Johan Sverdrup discovery into production, showing that even one of the most explored parts of the North Sea still has significant potential.
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National oil companies (NOCs) in the Middle East plan to boost their collaboration efforts in technology applications through a global industry trade organization’s initiative.
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Mexico’s second oil and gas lease auction has been deemed a success after three out of five shallow-water blocks were awarded in September. The awarded areas contain an estimated 236 million bbl of oil and 190 Bcf of gas.
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The oil price cannot be USD 20 for any long period because we cannot produce enough oil to feed the world at that price. But if the price of oil is based on supply and demand, how could it fall to USD 20 at any point in time?
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Sustained low oil prices have not yet had a significant effect on many universities’ research and development programs. For now, money allocated by the oil and gas industry in previous years is still available for many institutions.
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The chief technology officer tells why he is optimistic about the current oil price situation, how the market downturn could be an ideal opportunity for innovation and slashing costs, and what major technology trends will be expected in the near future.
