The Oil and Gas Industry in 2020 – Brief Summary
Attempts by the wider OPEC+ club to minimise the growing glut have only mitigated the situation; the power of these producers to influence the market has diminished as US production has risen. As long as OPEC+ tries to play the good cop in the market – yielding volumes to coerce trends – crude pr ...Major slowdown expected in U.S. shale oil production
Last in a five-part series: Behind the BoomThe shale-oil tsunami that has flooded New Mexico with a wave of petro dollars in recent years may be receding somewhat as U.S. production faces its first significant decline since the gushers began nearly eight years ago. Signs of trouble are showing up ...
On one hand, you had some key members – including Iraq, surprisingly – stating the need for the broader OPEC+ club to make further cuts to its supply deal. The headlines spinning out of the December 5 meeting was that the OPEC+ alliance agreed to slash a further 500,000 b/d, with Saudi Arabia ple ...Reducing Onshore Well Failures: Advanced Chemical Management 2020
Technical Case Studies | Collaborative Dialogues | First-of-their-Kind Masterclasses This year, a leading market intelligence firm interviewed 350 unconventional E&P operators to determine the US producers' greatest challenges and priorities at this point in time. And the uniform response was: ...11 Feb 2020
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 ...China adds incentives for domestic natural gas production as imports increase
Natural gas production has recently grown in China largely because of increased development in low-permeability formations in the form of tight gas, shale gas, and to a lesser extent, coalbed methane. In June 2019, the Chinese government introduced a subsidy program that established new incentive ...
Citing a need to boost oil revenues by being ‘honest about its ability to endure further cuts', Ecuador is prioritising crude production and welcoming new oil investment (free from production constraints) as President Lenin Moreno pursues more market-friendly economic policies. Indonesia did rejo ...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 ...Did Occidental Overpay for Anadarko?
Now that Occidental Petroleum has beaten Chevron to the acquisition of Anadarko Petroleum – and the strategic assets it holds in the prolific Permian Basin – one would think that the deal is cut-and-dry. The Occidental purchase of Anadarko had all the signs of a classic takeover battle, swooping ...TODAY IN ENERGY: In 2018, 90% of the natural gas used in the United States was produced domestically
EIA's U.S. natural gas flow diagram helps to visualize the elements of U.S. natural gas supply (production, imports, and withdrawals from storage) and disposition (consumption, exports, and additions to storage). U.S. natural gas production and consumption have both generally increased since the ...The ‘Argentine Permian’ Starts Shipping
But not only is it the first ever LNG sale for the country, it is also the first commercial output from the Vaca Muerta shale play – one of the world's largest shale formations and a potential game changer for the hobbling Argentine economy. The US EIA goes even further, estimating that the Vaca ...Upcoming OPEC Meeting: What to Expect
With Russian Finance Minister Anton Siluanov suggesting that there was a risk that oil prices could fall as low as US$30/b and the Saudi Arabia-Russia alliance preparing for a US$40/b oil scenario, it looks more and more likely that the production deal will be extended to the end of 2019. The maj ...The Permian is Ripe for M&A Battle
Next is Diamondback Energy, a Permian pure-play firm that has valuable assets in the Midland Basin as well as the prized (and prolific) Delaware Basin. Brushing up against Pioneer's acreage is ExxonMobil and Chevron's own boundaries, and its new status as a Permian pure-play makes Pioneer particu ...
The deal would have given Chevron significant and synergistic acreage in the Permian Basin along with new potential in US midstream, as well as Anadarko's high potential projects in Africa. And so Oxy was victorious, capping off a two-year pursuit by Hollub for Anadarko – which only went public a ...Shale Gas Opportunities Open-up in the Australian Outback
Power plants in Saudi Arabia burned an average 0.4 million barrels per day (b/d) of crude oil in 2018 directly for power generation, the lowest amount since at least 2009, the earliest year that data are available from the Joint Organizations Data Initiative (JODI, Figure 1). Saudi Arabia relies ...
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