Asset Management
The Houston-based developer of AI-powered submersible robotics earned the Best in Show Award and a $10,000 prize.
Industry fundamentals continue to strengthen as rising utilization and scarce replacement capacity support higher rig valuations.
The GRMS system of standardization and classification for geothermal resources, led by a coalition of stakeholders in collaboration with Project InnerSpace and the Society of Petroleum Engineers, will be published in November.
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Although the shale sector continues to thrive, the pace of deepwater E&P is now gradually picking up. -
Malaysia’s Petronas, Shell Malaysia, and Thailand’s PTTEP are now in the midst of full-scale digital adoption. The companies are beginning to see results, but none is counting on a “big bang” in development of the technology soon.
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The state-owned firm is looking within its home country, around Southeast Asia, and to the Americas—including shale—in an effort to maintain its forecast average yearly production of 1.7 million BOE/D over the next 5 years.
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The El Dorado, Arkansas-based Murphy has quickly found a home for some of the cash it will receive from the sale of its Malaysia business. The company has been rapidly expanding its US gulf footprint while simplifying its portfolio and targeting more oil.
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The three largest service companies are optimistic about the rest of 2019.
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There is a new, big independent in the UK North Sea, Delek Group. Its UK North Sea arm, Ithaca, bought most of Chevron’s holdings in the sector in a $2 billion deal.
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Devon Energy and its debt gets smaller, as Canadian Natural Resources adds to its huge, long-term bet on Canadian heavy and ultra-heavy crude.
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The deepwater Gulf of Mexico project is expected to add 50,000 B/D of oil production through the construction of two new subsea production units and production wells.
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Louisiana state granted a tax incentive to LNG Ltd. for its Magnolia project in Lake Charles. Although a beneficial development, it’s a drop in the bucket in the company’s progress toward FID.
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If the benchmark oil price is $10/bbl higher than the breakeven price for production that means companies are making good money, right? Maybe, but it’s hard to know what goes into a breakeven price.
