The Exploration StrategyConference, organized jointly by Rystad Energy and GeoPublishing, brings together the exploration focused North Sea community to exchange expert insight, network with fellow peers and develop discussions and solutions on current industry issues.
Date: November 1-2, 2016 Location: Stavanger, Norway
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"North American liquids production likely to decrease this year" Rystad Enery’s latest research shows that 2016 will be the first year in which we see a decline in liquids production from the North American shale oil and tight liquids plays. Some key plays will face a net decrease in the liquids production year-over-year. 2016's production from Eagle Ford and Bakken is estimated to drop by 12% and 9%, respectively, compared with 2015’s level. From 2010 to 2015, the top four shale liquids plays grew on average by 860 kboe/d, with the highest growth coming from the Eagle Ford Shale. Read more
"Canada Shale - Explaining the challenges in the low commodity environment" by Sona Mlada, Senior Analyst (Published by Oil & Gas Financial Journal, April Edition) Canada is the fifth largest producer of hydrocarbons in the world (after the United States, Russia, Saudi Arabia and Iran); 2016 average annual production is expected to be over 7 million barrels of oil equivalent per day (oil & gas combined). Almost 60% of this production is represented by light oil. In fact, Canada is the fourth largest light oil resource holder (after Russia, Saudi Arabia and the U.S.), with over 130 billion barrels of remaining economical resources, almost 80% of which are represented by the oil sands. Read more
"GE likely to become the third largest oilfield service provider" According to Rystad Energy’s latest estimate, GE may become the third largest oilfield service provider in 2016, if the company buys the planned divestments by Halliburton and Baker Hughes. In addition, GE is more sheltered amid the downturn in oil prices due to exposure to equipment and more resilient product lines. Overall, GE’s upstream revenue is expected to gain by 6% this year from 2014’s level, while all other is losing market share. Read more
"Operators in Montney play realize better well results" With improved completion techniques, operators in Montney play have managed to realize better well results every year. The figure below depicts the average well curve for the Montney play for different spud years. The results differ per operator and for specific acreage positions. At the same time, the refracking of old wells has become a more commonly used technique in the Montney play, with over 35 wells refracked in 2015, more than double compared to 2014. Read more
"Iraqi crude output continues to grow, but at a slower pace from 2017" Rystad Energy analysis shows that Iraqi crude oil production for 2015 was approximately 3.9 million per barrel, up by 12% from 2014. The 2016 production level is expected to exhibit similar growth as in 2015. From 2017, the growth rate will slow down to an average year-on-year increase of 4%, predominantly as the first phase of the redevelopment of mature oil fields has now been completed. Read more
"Western Europe: E&P update" by Espen Erlingsen, VP Anaysis (Published by GEOExPro) Oil and gas production in Western Europe* was in decline from 2000 to 2014. During this period, liquid production decreased from 6.7 million bbl/d to 3.4 million bbl/d and gas dropped from 266 Billion m3 to 230 Billion m3. In 2015 liquid production increased by 200 kbbl/d, the largest since 1996. The change in liquid production is due to a combination of new project developments (Gudrun and Golden Eagle), redevelopment of old producing fields (Valhall and Ekofisk) and less down time during the summer of 2015. Read more
"Are Mexico's 2015 discoveries enough to impede production decline?" by Olga Kerimova, Senior Analyst, and Theodora Batoudaki, Analyst (Published by PESGB Newsletter, April Edition) Mexico’s production is in a decline phase. Great exploration success is the highlight of 2015 for Mexico E&P. This article discusses the impact of discoveries, with a special focus on the 2015 discoveries, and the Round One tender on Mexico’s production and spending outlook. Read more