Farm-out market in 2020: Deal flow at all time low but success rates from wells drilled at a 5 year high
The farm-out market in 2020
Automation – key driver for premium Middle East onshore rig day rates
The Middle East is a significant contributor to onshore rig demand, accounting for c.10% of...
Why explorers are not targeting more gas in response to the Energy Transition
There has been much talk about natural gas as a transition fuel, but is there any evidence that explorers are now targeting more gas in exploration?
Scaling Renewables: the converging world of Oil & Gas and the Clean Energy Supermajors
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?
Offshore EPC investment primed for a rapid bounce-back in 2021
After a torrid 2020, the outlook for the offshore EPC market in 2021 looks promising, boosted by projects deferred from 2020.
Articles
2020 High Impact Exploration and 2021 Key Wells to Watch
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.
E&P capital expenditure – what is the outlook for 2021?
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.
UK and Norway Exploration and Production Outlook for 2021
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.
