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May 14 2018 |
Analysis of Riglogix data shows that recently jackup day rates around the world had risen to slightly above operating costs, allowing rig owners to finally make a little profit. That trend may not continue in all regions.
May 9 2018 |
Westwood Global Energy Group has released its ninth annual State of Exploration Report, the definitive report covering global conventional oil and gas exploration.
May 8 2018 |
News & Insight
Westwood Global Energy Group unveiled its 9th annual State of Exploration Report – the definitive global benchmark for conventional oil & gas exploration. This essential report analyses global conventional exploration performance over the past five years, together with exploration drilling plans for 2018.
May 2 2018 |
The industry is planning to drill out 3.7 billion boe of prospective resources in 16 high impact wells in 2018 in the UK and Norway. Westwood has reviewed the drilling programme for wells targeting resources >100 mmbbl of oil or 1 tcf of gas, to assess the potential for a game changing discovery in 2018.
Apr 16 2018 |
E&P companies have cut costs as much as they can, have stabilized financially and can now make a profit at above US$45 per barrel from their producing assets. Proving they can grow production whilst retaining cost discipline is the next challenge.
Mar 27 2018 |
The capital cycle for oil and gas is in full swing as pressure pumpers, logistics, and manufacturers deploy capital for new and refurbished equipment. Oil prices are supporting the oilfield service expansion as E&Ps find innovative ways to reduce well completion costs by directly sourcing frac sand, chemicals, trucking, and logistics.
Mar 19 2018 |
19th March 2018 The play opening billion-barrel Jubilee oil discovery in Ghana in 2007 triggered a decade of exploration drilling chasing analogues in the deep water Central Atlantic margins, from Mauritania to Cameroon in West Africa margin and from Guyana to NE Brazil in South America (Figure 1). Many were enticed into the play but the […]
Mar 8 2018 |
News & Insight
Energent, part of Westwood Global Energy Group, predicts a seismic shift in the supply of frac sand to the Permian Basin, Texas, this year. Its new report says that operators will turn to in-basin frac sand, rather than sand hauled across long-distances, to meet demand growth. By doing this, operators will be able to save […]
Mar 7 2018 |
7th March 2018 FLNG projects require significant capital investments, thus access to financing is a critical contributor to project sanctioning and success. Despite the FLNG liquefaction concept having been around for decades, only three units are in the water and operational or under commissioning as of 2018. Petronas and Shell, with a wealth of knowledge and […]
Feb 27 2018 |
News & Insight
(Aberdeen, UK) – Tuesday, 27th February 2018 – Westwood Global Energy Group (Westwood), an energy research, analysis and consulting specialist for exploration and oilfield services markets, announced today that it has acquired RigLogix from DHI Group, Inc (NYSE: DHX). RigLogix is a premium data services platform for the oil and gas industry. The platform offers […]
Feb 26 2018 |
26th February 2018 The West of Shetland (WoS) region is not a new province, but it is still one which is under-explored, at least by UKCS standards. Exploration in the region commenced in 1972 and since then a total of 160 exploration well programmes have been conducted (just 6% of total UKCS exploration). Geologically the WoS […]
Feb 22 2018 |
News & Insight
A new report from Westwood Global Energy Group shows better oil and gas exploration performance in 2017 than 2016 with discovered volumes, success rates and finding costs all improving. High impact oil & gas exploration remains challenged, however, with activity levels still low and no new frontier play opening discoveries announced. From the >60 high-impact […]
Feb 19 2018 |
19th February 2018 Corrosion resistant alloys (CRAs) are back in demand. The supply chain is preparing for an uptick in deliveries as a growing proportion of field developments require high quality downhole tubulars. Sour gas fields and high pressure high temperature (HPHT) wells typically require stainless, duplex or Nickel alloys to reliably transport production from reservoir […]
Feb 5 2018 |
5th February 2018 Half of oil and gas fields are not producing to expectations when onstream, and a new Westwood study shows that this is mainly due to unexpected reservoir issues. 70% of the fields studied with limited appraisal were found not to perform to the development plan. Most of the subsurface risks identified could have […]
Jan 31 2018 |
31th January 2018 US onshore oilfield services companies received positive signs from the equity markets this month. Liberty Oilfield Services’ (“LBRT”) initial public offering performance showed promise for the hydraulic fracturing market; up 5% to $22.93. A week later, Vista Proppants & Logistics (“VPRL”) filed for its initial public offering to become the first pure-play regional […]
Jan 23 2018 |
23rd January 2018 Offshore – dead and buried, thanks to onshore shale? Not quite. The OFS world moves fast. Data from the Energent team in Houston indicates that consumption of sand for hydraulic fracturing in the onshore US market hit new highs of over 30 billion lbs (13.6 billion kg) in Q2 last year, topping the […]
Jan 15 2018 |
15th January 2018 Decommissioning – it’s now a word well entrenched in the mind set and indeed the operations of those involved in the North Sea Oil & Gas industry. With c.$102bn of decommissioning related expenditure forecast to 2040 in Western Europe, it represents a significant opportunity for a supply chain which has proven itself willing […]
International conventional exploration over the last decade has been a rollercoaster ride. It began with optimism fuelled by an oil price boom and new oil provinces opening in Brazil, Ghana and Uganda.
Our complimentary article discusses the impact of a changing Chinese energy market on oil prices, and asks the challenging question; is the high cost of domestic production of one of the world’s largest oil producers creating a new market for the global supply glut and a counter balance to falling US shale extraction costs?
Jan 8 2018 |
8th January 2018 A ten year low in oil discoveries in Norway in 2017 doesn’t deter an expected increase in drilling in 2018, whilst performance continues to improve in the UK with the focus switching to gas for 2018. In 2017, there was a shift towards high impact exploration drilling in both the UK and Norway. […]