Asset Management
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 epands Cenovus’ SAGD footprint with three Alberta assets.
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Ben van Beurden said quitting was impossible because the Netherlands was dependent on Groningen gas. -
M&A market activity in the third quarter delivered the best showing of 2022 despite price volatility and a dearth of deals in the prolific Permian Basin.
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The Permian Basin operator said the purchase translates to more than a decade of additional inventory.
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Occidental Petroleum is considered one of the upstream industry’s most dynamic companies after making major investments to boost oil and gas production while also scaling up low-carbon technologies.
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The reduction is the largest OPEC+ has made since April 2020, but it may translate to a cut of only 1.1 million B/D because of underproducing members.
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In this first part of a two-part series, we look at how the artificial-lift sector has adapted to producing unconventional resources. The second part of the series to publish in November will crack open the lift toolbox to take a deeper look at the techniques and technologies under development or new to the market.
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Success at Ofelia sets up another tieback development to the nearby Gjøa platform.
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The company will produce twilight barrels and conduct abandonment work when the field is deemed uncommercial.
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Good news in Block 53 is offset by disappointing results in Block 58.
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The pandemic shrank technical teams across the upstream industry, raising new and important questions about how training and knowledge sharing must evolve.
