Tag: Deepwater
Tight inventory of deepwater assets driving prices higher
40% of global shallow-water oil/gas assets located for sale in Europe Reduced spending for oil and gas exploration is limiting availability of quality deepwater assets for merger and acquisition (M&A) deals, according to a new report by IHS Markit. “Low oil prices have significantly reduced operator spending on exploration—particularly in the deepwater, which is very costly,” […]
Baker Hughes introduces ‘revolutionary deep water multi-stage fracturing service
Placement of 20+ tightly-spaced stages across pay zone ensure more uniform treatments and maximizes reservoir contact Baker Hughes Inc. says its new DEEPFRAC™ deepwater multistage fracturing service can save operators hundreds of millions of dollars through efficiency gains across the completion phase of offshore developments, according to a Baker Hughes press release. Using multi-position sleeves […]
Revival of deepwater industry: best projects closing gap on shale oil
In a capital-constrained world, fewer operators means less deepwater projects flowing through to sanction According to a recent Wood Mackenzie report, a leaner and more cost-competitive deepwater industry is emerging from the downturn, with the most attractive projects now competing with US tight oil plays. 2017 will see a noticeable pick-up in deepwater project sanctions, […]
New ‘super basin’ in Mexico’s deepwater beckons international oil companies
Mexican crude production continues to decline, still the main source for financing government budget New research by IHS Markit finds that the Tampico-Misantla Basin in Mexico could be one of 24 global onshore ‘Super Basins’ that IHS Markit has identified, according to a press release. Exploration and production (E&P) companies investing in Mexico’s upstream industry have […]
Deferred upstream project tally reaches 68 ($380 billion of investment)
Canada, Angola, Kazakhstan, Nigeria, Norway and US have largest inventory of delayed oil projects A new study says that in the last six months of 2015, 22 major projects and seven billion barrels of oil equivalent of commercial reserves have been deferred. Wood Mackenzie says the deferrals are on top of46 developments and 20 billion boe of […]
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