AUGUST 2014 UPDATE
UPCOMING EVENTS

"A snapshot of drilling unit supply and demand by segment"
Lars Eirik Nicolaisen, Partner
Offshore Drilling Forum
October 20, 2014
Stavanger, Norway

"Global energy supply & demand"
Jon Fredrik Müller, Project Manager
Offshore Support Vessel Conference
October 20-21, 2014
Oslo, Norway

Deep Offshore Technology International
Jarand Rystad, Speaker
Topic TBA
October 14-16, 2014
Aberdeen, UK

"Utviklingen i transaksjonsmarkedet"
Harris Utne, Senior Project Manager
Solstrandseminaret
September 19, 2014
Os, Norway

"Offshore oil & gas developments"
Jon Fredrik Müller, Project Manager
Subsea Vessels
August 12-14, 2014
Jakarta, Indonesia


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INDUSTRY VIEW

"How many "Bakkens" to be found in Permian?" by Per Magnus Nysveen, Head of Analysis
(Published by Oil & Gas Financial Journal, July)
Oil and NGL production from unconventional tight plays in the US and Canada has reached a rate of 5.5 million barrels per day by June 2014 and will pass 6 million barrels during the last quarter of the year. The year-on-year net addition from these plays has been as high as 1.4 million barrels per day over the last 12 months and we estimate the same potential for the coming year, primarily driven by inflow of new rigs and fleets to the Permian, where the horizontal oil rig count over the last six months has been growing from about 200 to 300 rigs, and where learning curves for intensity and efficiency are still trending positively.

"Brazil will become the top crude oil producer nation in Latin America"
2014 will be a changing year for Brazil’s oil production which will reach a record-high of 2.2 million bbl/d. This will make Brazil the top oil producing nation in Latin America, surpassing Mexico. The main contributors to this production growth are fields such as Sapinhoa and Peregrino, both of which will have a production ramp-up in 2014.

"Utica is no longer just an emerging play"
Rystad Energy assesses the Utica Shale play to be no longer an emerging play, but a full-blown commercial play. Within a year, Utica Shale well count rose from 80 wells drilled in 2012 to 300 wells drilled in 2013. By that, Utica surpassed Haynesville in the number of new wells spud, with 300 compared to 200 wells drilled in Haynesville.

"China's E&P Market Overview" by Maierdan Halifu, Analyst
(Published by PESGB, July/August)
China’s economy has increased rapidly in the past decade; as a result, the oil consumption of China has grown dramatically and reached more than 10.7 million barrels per day in 2013 according to EIA. Although China is considered to be the fourth largest oil producer in the world, oil supply is much lower than oil demand.  In 2013, the oil production of China reached about 4,100 thousand barrels per day, including both onshore and offshore production.

EVENT INVITATION
Rystad Energy invites you to our own Information Session during ONS 2014: Geopolitics to counterweight over-delivery from shale? Oil price and investment levels ahead.”

DATE                    26th August 2014
TIME                    5.00pm – 7.00pm (Doors open 4.30pm)
LOCATION            Radisson Blu Atlantic Hotel, Olav Vs Gt 3, 4002 Stavanger
SPEAKER              Jarand Rystad & Per Magnus Nysveen, Rystad Energy
GUEST SPEAKER   Torbjørn Kjus, DNB & Trond Omdal, Pareto

PRESENTATION OVERVIEW & PANEL DISCUSSION
Rystad Energy’s latest research on shale delivery: 11 MMbbl/d of liquids in 2020 - above any previous estimates and thus creating a downward pressure on the oil price and investment levels.
However, geopolitical tensions have recently increased in the Middle East and Russia, which could limit future supply.
Will these two trends counterweight each other – what are the upsides and downsides of these scenarios?
What are the consequences for the Norwegian oil service sector?

REGISTRATION If you would like to attend this free opportunity, please register here. Places are limited. The event is free of charge.
 
Rystad Energy is an independent oil and gas consulting services and business intelligence data firm offering global databases, strategy advisory and research products for E&P and oil service companies, investors and governments. We are headquartered in Oslo, Norway, with additional research teams in India. Further presence has been established in the UK (London), USA (New York & Houston), Russia (Moscow), for Africa as well as South East Asia.