Prior to the recent collapse in oil values, prices existed at over $100 a barrel for over three years. It made the economics of oil exploration, production and sale comparatively straightforward, but embedded costs into the industry.
North Sea
‘Fit For 50’ – Restructurings Likely As Oil Industry Enters New Normal
By Simon Tysoe | Latham & Watkins LLPSign up and get Breaking Energy news in your inbox.
We will never sell or share your information without your consent. See our privacy policy.Energy News Roundup: Argentina’s Dead Cow a Cash Cow? Renewable Energy Country Index and Scotland Independence Vote
By Jared Anderson
Argentina needs foreign technical and financial assistance to tap its considerable shale resources. Unable to access international debt and capital markets after a recent default, the country is restructuring legislation to make investment opportunities more attractive to international oil companies. [Reuters] Global accounting firm Ernst & Young released its latest quarterly Renewable Energy Country Attractiveness… Keep reading →
Energy News Roundup: Quiet Trading Markets as Banks Depart, Norwegian Oil & Gas and Bearish US Nat Gas Signals
By Jared Anderson
Here’s an interesting look at the continuing trend of big banks unwinding their trading operations amid increased regulatory oversight and proprietary trading prohibitions. Many of the big players have left the space that’s increasingly being filled by new entrants like major trading houses. ‘“Today’s markets are ‘boring,’ said Thomas Thees, a former head of North… Keep reading →
Energy News Roundup: New Norwegian Oil Player Emerges, Kuwait Looks to Iran for Gas
By Jared Anderson
Marathon oil is selling its Norwegian North Sea assets for $2.1 billion as it restructures to focus on US shale developments. “Det Norske, half owned by Aker, an oil services company majority-owned by Norwegian billionaire Kjell Inge Røkke, will increase its production 20-fold and become one of the biggest independent companies operating in the Norwegian part… Keep reading →
Energy News Roundup: GE Working on CO2 Fracking, Solar Impulse 2 and Statoil Discovery
By Jared Anderson
Replacing water for hydraulic fracturing operations with carbon dioxide is long-term prospect, but an attractive one. As part of its ecomagination program the company is trying to figure out the best way to get the super-cooled gas to deliver proppant. “GE, which is making a push into oilfield technology, is studying how a chilled form… Keep reading →
GE CEO Jeff Immelt said the company is researching technology that could use carbon dioxide instead of water for hydraulic fracturing operations. GE is reportedly putting an additional $10 billion through 2020 into its “ecoimagination” budget, which focuses on energy solutions including high efficiency natural gas turbines, “CNG In a Box,” wind turbine manufacture and… Keep reading →
Scotland will vote on a referendum to secede from the UK this September. A major component of that decision involves the future of the massive Grangemouth refining and petrochemical complex and oil reserves located in the Scottish portion of the North Sea. “Mr. Salmond, Scotland’s first minister, is banking on North Sea oil to underpin… Keep reading →
The results of Chevron’s initial exploration in the Kaybob area of the Duvernay play in Alberta, Canada show liquid yield from completed wells in the 30-70% range, with initial production rates of as much as 7.5 million cubic feet of natural gas and 1,300 barrels of condensate per day. [Chevron] China National Offshore Oil Corp… Keep reading →
Daniel Yergin, vice-chairman of IHS Cera, has published an op-ed in the Wall Street Journal to commemorate the 40th anniversary of the Arab Oil Embargo of 1973. The piece drives home a central point: oil production and pricing can adapt relatively quickly to changing circumstances, provided that governments refrain from stepping in to influence them. “A… Keep reading →
All oil and gas fields face natural decline rates as reservoir pressure decreases and continually declining production must be addressed by drilling more wells and injecting substances like natural gas, carbon dioxide or steam into the formation to maintain pressure and coax the remaining hydrocarbons toward production wells. This process is known in the industry… Keep reading →
