Current US Drilling Trends and Future Oil Production
Looking at the data of active US oil rigs available from Baker Hughes – which is taken as a proxy for the level of upstream activity in the country – and the US crude production numbers from the EIA shows an evident lag between the two indicators. Between December 2016 and December 2017, when the ...Q319 Financials: Weaker Oil Prices, Weakened Profits
Changing nature of non-OPEC supply types may be affecting the crude oil futures marketChanges in the oil investment and production cycle may be affecting trading dynamics for West Texas Intermediate (WTI) and Brent crude oil futures contracts. Similar research from the U.S. Commodity Futures Trad ...BP Exits Alaska - An End of an Era
After over 60 years of operating in the frigid but productive wilderness of Alaska, oil supermajor BP has decided to call it quits. Once home to the largest crude oil field in America, BP's departure from Alaska is not a surprise but a trend of things to come. What Hilcorp purchases from BP incl ...The World’s Top 10 Offshore Oil & Gas Projects
The Gulf of Mexico Keeps Drawing Interest
Of that (relatively large) portion, a fraction was leased in the recent US Gulf of Mexico Lease Sales 253. The results of the US Gulf of Mexico Lease Sales 253 shows that the industry is cautiously optimistic that this won't happen. Main Bids for US Gulf of Mexico Lease Sale 253 FMS awarded 8-figure North Sea contract
FMS, a leading independent supplier of mooring equipment to the global oil and gas industry, has secured a three-year contract with BP for the provision of mooring equipment for its North Sea operations. Established in 2009, Aberdeen-based FMS will commence the contract in July 2019. Steven Brown ...The State of the Industry: Q2 2019
In the August 2019 Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts relatively flat crude oil prices for the remainder of 2019 and through 2020 and a balanced global oil market in 2019 followed by modest inventory builds in 2020 as production growth outp ...The Global Shutdown Turnaround Industry Forum
It is more important than ever to have the skills and strategies in place for a turnaround that meets budget and schedule. A plant shutdown that goes off track cannot only break your maintenance budget, but can have a huge impact on your production targets. Who should Attend S ...Amsterdam NH NL 28 Nov 2019
Shell Eclipses ExxonMobil Once Again
Weaker refining margins and lower crude prices were cited as a slight drag on performance, but Shell's acquisition of BG Group is paying dividends as strong natural gas performance contributed to the strong profits. Unlike ExxonMobil and Chevron, Shell has only dipped its toes in the Permian, pre ...
A few weeks ago, energy supermajor BP made a US$5 million investment in Belmont Technology, a Houston-based artificial intelligence (AI) start-up. In the investment in Belmont Technology, BP is hoping to apply its AI cloud-based geoscience platform for more accurate lifecycle projections in explo ...Serica Energy partner with IT specialists Sword to support their asset transition journey
In recent years, the UK oil and gas industry has undergone some major changes. As fields mature and margins reduce for the big producers, smaller independent companies have been stepping in to operate assets more efficiently and extend the life of fields in line with the government's strategy to ...Serica Energy Completes BKR Acquisition From BP
Significant increase in reserves and production post BKR and BK completion Serica's pro-forma net 2P Reserves increased over 20-fold to 63.7 mmboe Net production from the assets acquired has averaged in excess of 23,000 boepd YTD of which over 85% is gas Acquisitions expected to be immediatel ...NPD: Drilling Permit for Well 24/9-13 in Production Licence 869
The Norwegian Petroleum Directorate has granted Aker BP ASA a drilling permit for wildcat well 24/9-13, cf. Section 15 of the Resource Management Regulations. The well will be drilled from the Scarabeo 8 drilling facility in position 59°17'51.93" north and 1°46'2.34" east after drilling wildcat ...Cue Energy: Conditional Agreement for WA-359-P Joint Venture and Ironbark Exploration Well Funding
Cue, BP, Beach Energy and New Zealand Oil & Gas have reached a conditional agreement to farm-in and drill the Ironbark-1 well BP to immediately take on well planning lead role BP to assume operatorship on satisfaction of certain conditions Cue to retain a 21.5% equity in WA-359-P with ...Cue Energy: WA-359-P Farmout and WA-409-P Option Agreements With New Zealand Oil & Gas
New Zealand Oil & Gas to acquire 15% equity in WA-359-P and a 5.36% equity option in WA-409-P New Zealand Oil & Gas to carry 2.85% of Cue well costs in WA-359-P Ironbark-1 exploration well now fully funded and planned for early 2020 A separate announcement regarding the formation of a ...
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