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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Forecasts for oil demand are looking up. Will the optimistic views prove to be on target? We have learned how the market can shift or wildly careen, both historically and in the very recent past. The outlooks, which reflect a consensus of sorts, is encouraging for producers. -
In his final column as SPE President, Tom Blasingame reminds members to never forget the enormous responsibility they bear in providing the global community with one of its most essential commodities. He calls for increased efforts to engage and contribute to our industry and to SPE to pave the way to sustainable and renewable energy.
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Eastern Canada offshore heats up with Flemish Pass drilling plans
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Royal duo could add over 130 million bbl of reserves
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The move is part of a larger reset, cutting the operator’s international exposure
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Major makes another discovery in Stabroek block, comes away empty in Canje
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Additive manufacturing can alleviate and avoid long, expensive production shutdowns and reduce supply chain carbon footprints. Key to unlocking this potential is building trust in “printed” parts.
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Oman will open a new round of bidding on two onshore blocks from which previous license holders are exiting and a promising offshore block near where production has recently been initiated from the Yumna field.
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Jeff Gustavson will become president of Chevron New Energies effective 2 August as the company seeks to manage its low-carbon business prospects.
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CEO John Hess said the Whiptail discovery could form the basis for a future oil development in the southeast area of the Stabroek Block.
