Business Benchmarks (Economist's Corner)
Dog Eat Dog: Chasing Scale in a Crowded, Maturing Permian
Premium acreage costs in the Permian have increased industry interest in acreage swaps, divestment, and M&A activity.
The Net Present Value of a Hydraulic Fracture Treatment
A bird’s eye view of the elements governing the net present value of a fracture treatment.
Saltwater Disposal: A Key to Permian Productivity
As the Permian Basin has boomed again, recent conversations focused on how pipeline takeaway capacity limits the ability of operators to develop the basin to its full potential. In addition to solving the takeaway problem, water management is another bugbear waiting to be addressed.
More to Carbon Than Meets the Eye: The Importance of Researching Carbon Capture, Utilization, and Storage
CCUS is an interdisciplinary research field and its broad scope means that CCUS offers numerous opportunities for science and engineering graduates, including petroleum engineers.
#NoDAPL and Online Activism: New Directions for Effectively Engaging With Critics
The construction of the Dakota Access Pipeline sparked a broad, clamorous online debate on social media platforms. But was there a communications gap between the opponents and proponents of the pipeline on Twitter?
Blockchain Technology for the Oil and Gas Industry
Blockchain is a reliable, difficult to hack record of transactions and of who owns what. Oil and gas companies expect blockchain energy trading platforms to improve reliability and efficiency.
Do Norway Oil Fund’s Plans To Exit Oil and Gas Investments Reflect the Industry’s Future Prospects?
Late last year, Norges Bank recommended that the Norway Oil Funds end future investment in oil and gas stocks. Two weeks ago Statoil changed its name to Equinor. Are these actions a reflection of the long-term prospects of the oil and gas industry?
The Asset Evaluation Process in Upstream Oil and Gas—Technical, Financial, and Geopolitical Considerations
The asset evaluation process in the oil and gas industry is not purely technical or limited to the evaluation of the asset’s production performance. Careful consideration is also given to the business environment, fiscal policy stability, and political stability of the country, among other factors.
Video: 2017 Annual Technical Conference and Exhibition Opening General Session
At the 2017 ATCE, top executives from inside and outside the upstream business discuss how they are delivering a sustainable future.
The Role of Marketing Communications in the Oil and Gas Industry
Marketing communications occupies an important position in the oil and gas industry. In an industry currently in transformation, promoting brand awareness and defining and conveying differentiators in a crowded marketplace is critical.
Business Unusual for E&P: Companies Adapt to the Changing Landscape
The industry is facing one of the toughest challenges of its lifetime, but exploration and production companies are slowly and steadily adapting to the new changes.
Leading in a Downturn, Heading to the Future: An Interview with NOV CEO Clay Williams
NOV CEO Clay Williams talks about his experiences managing business challenges and opportunities, thoughts on product development and M&A activity, and his opinion on where the oil and gas industry is going in the future.
OPEC Today: Influence on Oil Markets May Decrease But Role Still Important
With more than 60% of oil and 80% of gas production coming from non-OPEC nations, and US shale production proving to be resilient, OPEC's influence on oil markets may decrease but it's role in market dynamics is still important.
The Middlemen: Career Options in the Midstream Sector
There are numerous career paths available within the midstream sector due to the very diverse nature of the systems involved. There are avenues for virtually all engineering disciplines and the opportunity for cross-training and advancement is tremendous.
Changing the Game To Change the Bottom Line: Leveraging Innovation for Earnings in the Petroleum Industry
Innovation occurs by thinking differently and creatively. What makes innovation commercial is its desirability to users, its viability in the marketplace, its economic soundness, and its basis in workable technology.
Megaprojects: Managing Risks and Controlling Costs
Megaprojects require billions of dollars of investment, multidisciplinary teams, meticulous planning, flawless execution, and cutting-edge technology. To ensure their success, the energy industry will have to focus more on containing project risks, reducing delays, and ensuring faster “first oil."
Planning Your Career Path: Is There a Magic Formula to Career Success in Oil and Gas?
Often, young professionals assume that jumping from company to company is the most rewarding and lucrative path. This is not usually the case. Change may progress you, but too much change can be detrimental.
Motivations for Mergers and Acquisitions in E&P
This article discusses the relationship between commodity prices and M&A activities and explores what drives corporate acquisitions.
Commodity Price Cycles: Explained by an Expert
Oil and natural gas are the lifeblood of modern economies. Together, they account for close to 60% of global commercial energy consumption. So why are prices so volatile?
Is Getting an Advanced Degree the Key to a Financially Rewarding Career?
Start a career or study further? Matt Balhoff of the University of Texas at Austin and Larry Fiddler of Halliburton Consulting debate the pros and cons.
Reflections: The Last Decade and the Next Decade
The past technology-driven decade and the economic challenges ahead.
Oil and Gas Job Security— From an Economic Viewpoint
Job security in the oil and gas industry depends on a few major factors that can have either a positive or negative impact on the industry’s people and profits.
Entrepreneurs’ Economics: Key Lessons From YP Entrepreneurs
The oil and gas industry is a veritable breeding ground for those who want to make the dream of entrepreneurship a reality. However, this dream cannot be achieved without a significant amount of personal risk and hard work
Financial Roadmap of an Independent’s Asset
Exploring the financial roadmap of an asset through the various phases of development.
Emerging Plays Boost Economic Attractiveness of Deepwater Gulf of Mexico
A discussion of how emerging plays boost the economic attractiveness of deepwater Gulf of Mexico.
Company Valuation: Oil and Gas vs. Other Sectors
A company is valued for many reasons—to determine its ideal corporate structure, to gauge its appropriate level of capital funding, or to determine its appropriate price when it is part of a merger or acquisition transaction.
Unconventional Shale Resources: Economics, Regulations, and Politics
University of Houston professor W. John Lee discusses the economics, regulations, and politics surrounding shale development.
The Impact of Nanotechnology on Oil and Gas Economics
Materials smaller than the width of a human hair are contributing to improved hydraulic fracturing and other areas of oil and gas technology.
Game Theory in the Oil and Gas Industry
We provide here a brief introduction to game theory, which might better be called the theory of conflict and cooperation. Classical decision analysis is more applicable when one party is making the decision; when multiple parties are involved, use of game theory is more appropriate.
Future Energy : Scenarios and Sustainability
This article focuses on the different scenarios for world energy demand and supply, along with their implications on energy-related CO2 emissions.
Russian Oil Export : Projection Fraught With Risk
The dramatic fall of oil and gas prices in the second half of 2008 only exacerbated the problems of declining production in Russia. The needed investment in the hydrocarbon sector is huge. This article takes a look at the future of Russian production and exports.
What Will Unlock Development of Unconventional Resources?
Unconventional fossil fuels are the most important drivers of resource growth. These are sources of oil or gas for which production technology is immature. Economic and geopolitical factors encourage the technology innovations that convert unconventional resources to conventional reserves.
Oil Prices and the Macroeconomy
Until the credit crunch hit in late 2007, the world had witnessed high and rising oil prices with no observable slowdown in growth. So what role has the oil price played in the world economy?
Resurgence of an Old Oil Player: Tunisia’s Strategy To Secure Energy for Economic Expansion
Abdurahman Benyezza, North Africa Regional Director for Eni, presents an overview on the oil and gas industry in Tunisia, which is emerging again with a new focus on gas field development.
Be Ready, Cost-Effective for Project Operations in Complex Environments
Being ready to operate is one of the most critical steps in the development of an oil field. For complex projects characterized by technical risks and challenges, a structured approach is mandatory to ensure operational excellence and readiness.
Managing Risks Effectively Now Critical for Efficiency
The oil and gas industry has always been a competitive arena, in which handling risks effectively has now become critical for business efficiency. The effect of risks on project costs should be carefully quantified in order to implement efficient measures to mitigate these risks.
Real Options Should Be a Part of Our Thinking
Charles Osborne of BP diseases the role that real options can play in managing risk.
The Complex World of Oil Markets and Trading
Oil trading is a broad term, incorporating the exchange of physical oil cargoes and trading of paper instruments, which does not necessarily result in physical delivery of oil. It is a complex mechanism composed of several markets—spot, over-the-counter, and futures markets.
Issues With Opex Forecasting in Economic Evaluation
Historically robust demand and hydrocarbon prices in the past have conditioned the industry to regard operating expenditure (opex) as a minor element compared with capital expenditure (capex). There are important lessons about opex that can be learned from our downstream cousins.
Economic Evaluation of Oil and Gas Projects
Dennis Smith, Chief Economist of IHS Energy, gives an introduction to commercial analysis of upstream projects, stressing the importance of various inputs, fiscal system interpretation, and presentation of economic indicators.
The Future of Global Oil Production: Plateau or Peak?
Peter Jackson of Cambridge Energy Research Associates presents a macroeconomic perspective on the peak oil theory introducing the concept of an undulating plateau.
China and India: Growing Energy Demand and Implications for the World
Sustained rapid economic growth has made China and India increasingly important in the world economy. The accompanying surge in energy demand from these two countries has been a factor in recent oil price increases.
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