Aug 17 2017
17th August 2017 Land rigs – a fragmented, undisciplined, commoditised market? Why would rig contractors and E&P companies buy land rigs when oil prices are at recent historic lows, E&P firms are reigning-in Capex and there is seemingly an awful lot of idle rigs and equipment stacked in yards (or worse, in the field) globally? Yet […]
More »Aug 7 2017
7th August 2017 The Liquified Natural Gas (LNG) carrier market has been highly cyclical and is often driven by global macroeconomic events. The growth of LNG carriers over the past decade has been synonymous with the growth in global LNG import and export capacity. However, in recent years the increase in LNG cargos hitting the market […]
More »Aug 3 2017
3rd August 2017 During the last sector boom leading up to 2014, the industry invested heavily in new equipment and infrastructure to support a level of activity that has yet to return. This has had and continues to have brutal implications for asset-heavy businesses, but particularly offshore, where the investment required to build a rig or […]
More »Jul 31 2017
31st July 2017 Publicly traded E&Ps and service companies are entering a Q2 earnings season anticipating a slowdown across the unconventional plays. In Halliburton’s (NYSE: HAL) second quarter earnings call Dave Lesar said, ”rig count growth is showing signs of plateauing and customers are tapping the brakes.” With oil prices under $50 per barrel and oil […]
More »Jul 17 2017
17th July 2017 In 2015, the Department of Energy’s Wind Vision Report projected that the US offshore wind industry could support investment to reach a cumulative capacity of 3 GW by 2020, 22 GW by 2030 and 86 GW by 2050. These targets do look wildly unrealistic, but the prospects for growth in offshore wind still […]
More »Jul 13 2017
The latest data for global exploration shows some signs of recovery after the lows of recent years, with discovered commercial resources for 1H 2017 being twice that for the same period in 2016. Whilst drilling is down in Asia-Pacific for the first half of 2017, commercial success rates are holding up in some areas, with […]
More »Jul 10 2017
10th July 2017 Conventional exploration performance has improved considerably in 2017, with commercial success rates above 50% and much lower finding costs than for the same period in 2016. Although drilling was down 20% in 1H compared to the same period in 2016, discovered volumes were nearly twice that in 2016 1H and overall finding costs […]
More »Jun 26 2017
WGEG’s annual World Offshore Wind Market Forecast contains country-by-country forecasts, detailing capital expenditure (Capex), operating expenditure (Opex), capacity and long-term renewables targets
More »Jun 13 2017
13th June 2017 The key to governing a late life oil province like the North Sea is getting the balance right between initiatives to maximise recovery in late life assets with the practicalities of planning for decommissioning. Fail on the first and oil is left in the ground that could have generated tax revenues. Fail on […]
More »Jun 5 2017
5th June 2017 Since 2012, the percentage of horizontal rigs running in the Permian Basin has steadily increased. The percent of horizontal rigs in the Permian grew from 14% in January 2013 to 27% in January 2015. Now, the Permian accounts for over 42% of the active horizontal rigs in the US land market. This year, […]
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