Drilling & Well Services Spotlight
Each month, Westwood’s onshore team provides a summary outlook for specific service line categories in the wells, services and equipment sector.
Each month, Westwood’s onshore team provides a summary outlook for specific service line categories in the wells, services and equipment sector.
How do 'clean energy Supermajors' and 'oil and gas Majors' really compare in ambition and approach to renewable power generation, and what possible implications does this have?
Video on demand for Westwood's January 2021 webinar on UK and Norway exploration well drilling.
After a torrid 2020, the outlook for the offshore EPC market in 2021 looks promising, boosted by projects deferred from 2020.
Video on demand for Westwood's January 2021 webinar on our 1Q Macro Outlook
We start the year off with our review of 2020 high impact exploration activity, and a look into key wells to watch for 2021, summarised by Westwood's Head of Global Exploration & Appraisal, Graeme Bagley.
Westwood’s analysis of 3 E&P peer groups – the five Supermajors, four selected National Oil Companies (“NOCs”) and 17 selected US Shale producers, suggests that 2021 capital expenditures are likely to remain relatively flat or decrease slightly compared to 2020, at a US$50/bbl Brent (US$45/bbl WTI) oil price assumption.
After a turbulent 2020 for the oil and gas industry, 2021 is expected to see a modest rise in investment in the UK and Norway offshore sectors, assuming a US$50 per barrel average oil price. Exploration activity could recover to 2019 levels and investment in new developments is set to increase.
Will the introduction of new, domestic designed, high-capacity turbine models help Chinese developers bridge the capacity gap?
Video on demand for Westwood's December 2020 webinar on Stalled Resources.
Phone : +44 (0)20 3794 5380
Email : info@westwoodenergy.com