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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The good news for next year is no one is predicting a repeat of what happened this year. The bad news is the outlooks offers little incentive to find any more oil. -
The cluster is the third largest in Brazil and the fourth largest in the Americas, with potential for further development. It is the third offer the company has made over the past five weeks.
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Gulfport Energy is seeking to eliminate more than $1 billion in debt and to cancel or renegotiate firm transportation contracts that it said drove it to enter bankruptcy protection.
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Aramco commissioned a top-down and bottom-up assessment of the potential risks associated with delivering major projects in China, the Kingdom of Saudi Arabia, India, and the US Gulf Coast. Its goal is to deliver shareholder value while preserving the capital effectiveness and value of the projects.
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The increase in OFS and equipment sector jobs over the past 2 months came amid higher oil and gas production. But increases in COVID-19 cases are causing uncertainty about when and how much demand will rise.
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Bonanza Creek plans to buy HighPoint Resources and said it hopes to maintain an output of 50,000 BOE/D by focusing only on drilled-but-uncompleted wells in the near term.
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An ATCE presentation outlined how staged field development can help make smaller oil discoveries commercial alongside existing engineering solutions.
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With the acquisition of Schlumberger’s rod lift business, Lufkin gains several products, brands, and key proprietary software.
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To go big on capturing CO2, the oilfield service company is acquiring a company that specializes in going small.
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Two contracts awarded for flowlines and wellheads at ADNOC’s Abu Dhabi oil fields are expected to be completed in 5 years. A third contract to develop a bypass system for its Jebel Dhanna and Fujairah terminals is expected to be completed in 30 months.
