TOPICS OF INTEREST
OPEC Extends Production Cuts 9 Months, Impacts Analyzed
OPEC has renewed its effort to prop up global crude prices, but the impact may also drive US production higher.
Data and Digital Hold E&P’s Future, Says New Century CEO
Leveraging data to drive the best technology solutions and inform business strategy is the route to future industry success, says a US independent’s top executive.
For Pemex, Partnerships and Profitability Are The New Focus
The new CEO of Pemex outlined his plan to reverse the state-owned company’s struggling financial and production situation.
Zinke Pushes for Review of Interior and Regulations at OTC
Secretary of the Interior Ryan Zinke praised America’s resource potential and regulatory framework at OTC. He also laid out his plan to review the department and signed two secretarial orders.
New Study: US Shale Rebound Strengthened By Dealmaking
A Houston-based energy consultancy concludes that a series of downturn deals have contributed more to the resiliency of the US shale sector than a rise in oil prices.
CERAWeek: Global Trade Remains Vital to Industrial Operations
Industry CEOs examine the role of global trade with the UK Minister for Energy and Industry.
CERAWeek: New ExxonMobil CEO Addresses Carbon Reduction, Expresses Optimism On US Gulf Coast Downstream
The new head of ExxonMobil used his first major public appearance to emphasize the major oil company's committment to environmental concerns through the development of emerging technologies.
CERAWeek: Statoil, Petrobras CEOs Discuss Leadership Challenges in Difficult Environments
The CEOs of Petrobras and Statoil discuss the challenges their companies face in enacting economically and environmentally sound operational policies.
Thunder Horse Expansion Builds on BP’s Gulf of Mexico Strategy
Completed 11 months ahead of schedule, BP’s Thunder Horse South Expansion project furthers the company’s deep water agenda.
Risk-Based Abandonment-Prioritization Strategy for Inactive Subsea Wells
This paper describes how an exploration-and-production company successfully developed and applied a qualitative risk-based abandonment-prioritization strategy for an inventory of inactive subsea wells.
Mexico’s Deepwater Auction a Success; Now What?
Mexico’s historic public tender for its deepwater real estate resulted in the awarding of eight out of 10 blocks on offer.
Iran Opens Field Investment to Global Bidders
Iran’s national oil company is offering investment opportunities in 50 fields to global bidders, its first effort to do so since the 2015 pact with world powers that lifted nuclear-related sanctions against the country.
Governments, companies, service providers, and many other stakeholders in the industry have realized the oil-price outlook may remain low for longer than expected and the need to plan accordingly.
Integrated Asset Modeling: An Approach to Long-Term Production Planning
With declining trends in production and dwindling reserves for a 35-year-old offshore field, the Samarang Redevelopment Project was initiated with a vision toward implementing integrated operations as an asset-management decision-support tool.
How Visualization Technology Is Maximizing Uptime
Visualization technology has played a key role in reducing operational expenditure (OPEX) and improving collaboration, thus maximizing uptime across the industry throughout the asset life cycle.
Anticipation, Uncertainty High for Upcoming Mexico Auctions
The opening of Mexico’s oil and gas sector was a landmark moment in the industry, but despite the potential upside, the uncertainty and risk surrounding unfamiliar offshore territory in a volatile price market kept many potential investors at bay.
A Deepwater Gasfield-Development Strategy for Trinidad and Tobago
Applying an economic analysis for Trinidad and Tobago's deepwater gas fiscal regime, results were calculated for various price scenarios to identify a workable strategy for development of offshore resources.
Shift Toward Permian Drives Rising Rig Count
The US rig count has inched up recently, and the driver has been the old reliable of onshore oil production, the Permian Basin. With surging production, the Permian is the only major US oil shale play to grow since crude prices began to fall.
Mergers in a Low Oil-Price Environment: Proceed With Caution
Merger and acquisition activity has been limited since prices started to fall in 2014. But there are signs that M&A activity may be building, and oil company management teams should think about which deal strategies they should pursue.
Surviving the Downturn: Oil Executives See Continued Tough Times Ahead
Holding little back, speakers at the annual IHS CERAWeek conference in February discussed how the industry has been shaped by the disruptive impact of North American shale production and predicted that many more months of financial pressure will spell the end for some companies.
Onshore Support for Mexico’s Deepwater Blocks Lacking
The deepwater blocks Mexico plans to lease to international operators in December are among the deepest, most remote, and geologically challenging in the world. But the difficulties of developing these areas will start onshore, where adequate and secure port facilities are few and far between.
Vietnam Still Holds Much E&P Opportunity
As oil companies struggle with the collapse in crude prices and industry upheaval, assessing the future of exploration and production (E&P) in specific countries requires a longer term vision of a market in which prices will have stabilized and rebounded to a level yet undetermined.
Lingering Global Oil Bust Will Lead to Lasting Changes
Predictions of a 2016 recovery in the exploration and production (E&P) sector became increasingly rare after 2015 ended with a thud as oil prices sank below USD 40/bbl.
Financial Pressures To Drive Industry To Consolidate
Pressure is growing this year for exploration and production (E&P) companies to “face the reality of a prolonged period of low prices,” said Alan Cunningham, technical director for Gaffney, Cline & Associates.
Service Focus Changes the Cost per Barrel
During a protracted period of depressed prices in E&P, the customer focus for service companies and suppliers shifts to finding ways to reduce the cost of producing a barrel of oil.
Living-Dead Equipment Adds to Oversupply
Those who track drilling and fracturing equipment are apt to mention zombies. That is the living-dead machinery still counted as available to work, but more likely now to be used for spare parts or scrapped.
Aligning Diverse Portfolios and Execution for Capital Efficiency
Aligning a diverse portfolio with an organization’s execution capabilities and capacity is imperative in achieving capital efficiency and meeting shareholder expectations.
Applying Lessons Learned To Minimize Overall Investment in Unconventional Plays
This paper provides a retrospective assessment of the Barnett and Eagle Ford Shale plays to highlight lessons learned and the associated value of those learnings.
The need for cost and capital efficiency calls for careful integration of technical and commercial elements.
A Technical-Limits Approach Applied To Maximizing Gasfield Recovery
This is the teaser
Management: Using Composite Modeling as a Means to Maximize Profitability
Many companies too often focus solely on maximizing current production when they should really be focusing on maximizing profitability. A holistic, total asset modeling process is needed to reorient the focus of digital oilfield systems to focus on the net present value (NPV) of every project.
Argentina Remains Out of Reach for Smaller Players
After offering incentives to international operators last year to drill in Argentina, the country still has more work to do in attracting foreign investment.
Unconventional Technology Gains Exceed Expectations, but Low Prices Offer a Stern Test
Oil markets displayed their manic-depressive side in August, dropping to around USD 40/bbl early and jumping back to near USD 50/bbl at month’s end.
Guest Editorial: How I Stopped Worrying and Learned to Love Customization
While some standardization makes sense, it is important for the industry to implement cost-effective supply chain practices to efficiently deliver customization when it improves efficiency and increases production.
17 May 2017