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 expands Cenovus’ SAGD footprint with three Alberta assets.
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While the individual circumstances of upstream companies may vary, they all must take decisive action to pivot away from “business as usual” and instead, pursue new growth models. -
Financial analytics company S&P Global and information provider IHS Markit announced they have agreed to merge in an all-stock deal that values IHS Markit at $44 billion.
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ExxonMobil has trimmed its future spending by more than 30% and said it will seek to divest from gas assets in the US, Canada, and Argentina.
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Digital transformation offers opportunities beyond the technical goal of increased production. It may also enhance sustainability, the work/life balance, and the public’s perception of the industry.
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A Canadian company reports that it has drilled and completed a historic horizontal well in Saskatchewan.
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At least one investment firm thinks there is money to be made in oil and gas operations and is putting up $900 million in equity to fund a startup by two veterans from Felix Energy.
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Offshore wind energy projects provide appealing options for the application of the skills and knowledge of practitioners involved in the design and fabrication of oil and gas facilities, especially those with offshore experience.
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Of the total $380 billion of projected investments, about 60% ($234 billion) is likely to come from producing assets, which have two main spending channels: facility and well capital expenditures.
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Electrically powered completions equipment takes another step toward greater sector adoption with the announcement of this new agreement.
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The agreement will introduce rod couplings coated with nanolaminate technology with the goal of improving equipment reliability.
