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Digitalization Can Save Upstream Sector $75B Each Year

Industry Headlines

Unconventional Wells Getting Early Win from Predictive Analytics
Monday, November 12, 2018 More than one-half of the world's top 100 largest oil and gas companies are now using digital tools to predict the future.

Digitalization Can Save Upstream Sector $75B Each Year
Monday, November 12, 2018 A new study by Wood Mackenzie shows how the US Lower 48 has led the way in utilizing technology to transform their business.

EOG Join Oil's $1 Billion-a-Quarter Club
Monday, November 12, 2018 The well-heeled, buttoned-down world of international oil now has competition from cowboy boots and jeans.

Analysts Not Surprised by Move into Bear Territory
Monday, November 12, 2018 Analysts at Cantor Fitzgerald Europe are not surprised by the move into bear territory.

Crude Oil Benchmarks Set Record
Monday, November 12, 2018 The WTI and Brent crude oil benchmarks set records - but not the kind that oil producers typically like.

WTI Drops Below $60
Friday, November 09, 2018 Crude oil futures declined again Friday, but the key natural gas benchmark got a late-week boost from a Canadian cold blast.

Keystone XL Ruling Could Just Be Symbolic
Friday, November 09, 2018 A Montana federal judge Thursday found that the 2014 environmental assessment by the Obama administration fell short.

Time Has Come for OPEC to Start Worrying
Friday, November 09, 2018 The time has come for OPEC to start worrying, according to the founder of Vanda Insights.

Oil Teeters Near Record Losing Streak
Friday, November 09, 2018 Oil's set for its longest stretch of declines on record after entering a bear market.

Oil Climbs After Record Run of Losses
Monday, November 12, 2018 Oil climbed after a record run of losses as Saudi Arabia said it will reduce crude sales in December and speculation rose that OPEC and its allies will cut output next year.


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Exploration

Less Appetite for Exploration Drilling
Monday, November 12, 2018 There's less appetite for exploration drilling, according to Rystad Energy.

US Adds 12 Oil Rigs This Week
Friday, November 09, 2018 The United States has added rigs four out of the last five weeks.

Croatia Launches Second Onshore License Round
Wednesday, November 07, 2018 Croatia launches its second onshore licensing round.

Eni and Lukoil Form Offshore Mexico JVs
Tuesday, November 06, 2018 Eni and Lukoil have signed a farm-out deal to transfer participating interests in three shallow-water exploration licenses offshore Mexico, Eni reported.

Shell Seeks Land Rig for Caribbean Campaign
Monday, November 05, 2018 Shell is requesting expressions of interest to provide a rig to drill two land wells in Trinidad planned for November 2019.

Israel Launches 2nd Offshore Bid Round
Monday, November 05, 2018 Israel announces the launch of its 2nd offshore bid round.


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Production

Saudis See Need for Producers to Cut 1MM Barrels
Monday, November 12, 2018 Saudi Arabia expresses the need for oil producers to cut 1 million barrels a day from October levels.

Welcome to a Renter's World
Friday, November 09, 2018 One trend that emerged from the latest downturn this looks set to last: the traditional customer's conversion to a leasing model.

UKCS Reserves Could Sustain Output for 20+ Years
Thursday, November 08, 2018 The OGA's estimate for proven and probable (2P) UKCS reserves, as at end 2017, is 5.4 billion barrels of oil equivalent.

WoodMac Says South Sudan Outlook Shaky
Wednesday, November 07, 2018 South Sudan's optimism about restoring oil output to 350,000 barrels a day depends on the success of a recent peace deal and both are unlikely, according to Wood Mackenzie Ltd.

ADNOC to Boost Oil Production to 4 MMbpd by 2020
Monday, November 05, 2018 The state-owned oil company is implementing a new gas strategy to increase production and plans to invest $132 billion in the next five years.

First Shale Gas from UK PNR Site
Monday, November 05, 2018 Cuadrilla begins to see natural gas flow to the surface from its shale exploration well at the UK Preston New Road site.


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Finance and Investing

Gastar Exploration Files for Chapter 11 Bankruptcy
Monday, October 29, 2018 The pure play Mid-continent energy company has entered into a restricting support agreement with its largest creditor and shareholder.

Private Equity Needs Long-Term Approach to Cash in on Shale
Monday, October 22, 2018 For private equity, the game plan for cashing in on the U.S. shale boom is shifting from quick flips to long-term commitments, according to one veteran energy investor.

Aramco Is Not Alone as Saudi Arabia's Privatization Push Slows
Thursday, September 20, 2018 Aramco may have grabbed the biggest headlines, but the oil giant's delayed initial public offering is just the latest sign of Saudi Arabia's slowing privatization push.

Qatar Calls For Increased Investment In Oil And Gas Markets
Thursday, September 06, 2018 Qatar's energy minister calls for oil-producing countries to boost investment in the oil and gas sector given a recovery in the price of oil.

Weatherford CEO Expects 2018 EBITDA To Nearly Double
Wednesday, September 05, 2018 Weatherford International's full-year earnings before expenses will nearly double from last year, CEO Mark McCollum says.

Alberta Cuts Budget Deficit Outlook As Oil Prices Rebound
Friday, August 31, 2018 The Alberta government lowered its 2018-2019 budget deficit projection.


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Company Operations

Maersk Drilling to Sell Jackup
Monday, November 12, 2018 The company has entered into an agreement to sell the Maersk Giant to an Australian-based company.

ADNOC and Aramco Sign Gas Pact
Monday, November 12, 2018 ADNOC signs a framework agreement with Saudi Aramco to explore potential opportunities for collaboration in the natural gas and LNG sectors.

Oasis Petroleum Sells Assets to Oasis Midstream
Friday, November 09, 2018 Oasis Midstream Partners LP is buying assets from Oasis Petroleum Inc. for $250 million.

Sub-Saharan Africa Capex Could Hit $24B in 2019
Friday, November 09, 2018 CAPEX among Sub-Saharan Africa national oil companies and SSA-focused international oil and gas companies is set to register a 13.1% growth in 2019.

Exxon's $2B Canada Move Shows Confidence
Thursday, November 08, 2018 Almost 2 years after Exxon Mobil removed billions of barrels of oil-sands crude from its reserves, its Imperial Oil unit is investing again.

Chevron Appoints New North America E&P Leader
Wednesday, November 07, 2018 Chevron Corporation appoints a new president for North America Exploration and Production.

Axis Energy Services Offers New Option for Completions
Tuesday, November 06, 2018 The new company based in East Texas is focused on more efficient completions on long-lateral shale wells.


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