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"UKCS Capital Expenditure to drop further this year" Rystad Energy's research shows that when oil prices collapsed, total capital expenditure on the UKCS fell by over 20% in 2015 from £14.8 billion in 2014 down to £11.6 billion. 2016 will be a tough year for the UKCS as capital expenditure is expected to drop further by almost 25% to £8.9 billion, before a having modest recovery towards 2020. UK’s offshore oil and gas producers will need a breakeven oil price of $67.1/bbl. Read more
"Largest growth in Iran's oil production in 2017; unlikely to reach pre-sanction levels" Rystad Energy’s latest research expects Iranian crude oil production to rise to 3.4 million barrels per day in 2017, from approximately 2.8 million barrels per day in 2015, reflecting the largest growth in oil production for almost a decade. While Iran has voiced its support to the recent Saudi-Russia-led proposal for a production ceiling, the country has not mentioned explicitly about capping its own output at January 2016’s level. Read more
"Saudia Arabia and Russia show highest reduction in government income from oil and gas" Rystad Energy’s recent government income study shows that in fact Saudi Arabia and Russia are the most effected by low oil prices in terms of government oil and gas revenue. For Saudi Arabia, 2016 income is expected to be 250 billion USD lower than in 2014. This has a tremendous effect on the economy given that oil and gas revenue made up around 45% of total GDP in 2014. Rystad Energy estimates that the Russian income from oil and gas has reduced by around 150 billion USD from 2014. The study has also shown that it is the OPEC countries that show the highest dependency on oil and gas income in their total GDP. Read more
"Shale's response to low oil price environment- summary of 2015 and outlook of 2016" by Per Magnus Nysveen, Senior Partner & Head of Analysis, and Leslie Wei, Senior Analyst (Published by Oil & Gas Financial Journal, February Edition) Oil prices continued to drop during the fourth quarter as global oil supply and demand trends point to a continued over-supplied market in 2016. As operators begin to report the 2016 capital budget, total shale investments are expected to decline by an additional 20% next year and production is expected to remain flat. Read more
"The Southeast Asian E&P market - Policy change needed to withstand the downturn" by Maierdan Halifu, Analyst (Published by World Oil, February Edition) Exploration and production activity started in Southeast Asia in the beginning of the last century. The current oil and gas production from this region is still considerably lower than from other major producing regions such as the Middle East, North America, and South America. However, Southeast Asia has strengthened its important role in the global energy market, due to the fast growing economies in the region. This article takes a detailed look at the Southeast Asia E&P market. Read more
"Quo vadis, offshore Canada? – The importance of offshore supply for the region" by Sona Mlada, Senior Analyst The production from offshore Canada may not represent a significant part of the global offshore production (Canadian production represented only about 1% of the global offshore production in 2015), but it does play an important role for the country in future. By 2020, we expect the supply from Canada offshore to grow to ~350 kboe/d (from the current production at 270 kboe/d), nearly 75% represented by liquids. Read more
"2015 exploration results: Eni best in class" by Espen Erlingsen, VP Analysis (Published by GeoExpro) Prior to official results, the speculation for the year was that discovered volumes would continue the downward trend. Now the results show that the 2015 offshore-discovered volumes were 8.5 billion boe, of which 2.6 billion boe were liquids. This is slightly lower than the results in 2014, but considerably lower than the 18 billion boe yearly discovered volumes around 2010. In terms of activity ~600 offshore exploration wells were drilled through the year, resulting in total investment of 55 BUSD, 25% lower than 2014 values. Read more
We are pleased to introduce to you our North American Shale Well Cube (NASWellCube), a user-friendly analytical tool containing production and completion data for 200,000 wells. With an average of 1,750 new wells added to the database each month, our NASWellCube provides you with a complete coverage for the US Shale. Our analysts diligently collect and verify official state well data to create a high-quality and consistent data set on shale activity for your quick and efficient analysis.
NASWellCube covers the following:
Historical well production, completion & FracFocus data for entire US Shale
Well curve, pad drilling and re-frack analysis
Calculated IP rates and estimated ultimate recovery rates
Short-term activity and production outlook at well level
Well economics, including well costs and breakeven prices
Estimated 3-stream production volumes and drilling days at well level