"Russian E&P Market - short-term slow down, long-term recovery"by Olga Kerimova, Analyst (Published by PESGB, May) While Russia remains an important E&P player in the global market (still dominating in terms of light oil production), its production growth is slowing down with North America’s unconventionals taking center stage. Production is expected to recover somewhat in the long-term, given sufficient investments both in developing new discoveries and undiscovered resources, in particular offshore gas and onshore tight oil. So what are the production levels and how are the key players going to perform? Read more
"Permian is becoming the largest tight oil play in the US" by Bielenis Villanueva Triana, Analyst (Published for Rystad Energy US Shale Newsletter, April) The Permian Basin, known for its vast conventional resources, has experienced over the past years an activity renaissance targeting unconventional formations. More recently, unconventional activity in this basin has shifted from vertical to horizontal wells yielding more recoverable volumes and higher D&C costs per well. Hence, both tight oil production and spending are expected to grow in this area, possibly surpassing other mature shale plays such as Eagle Ford and Bakken. Read more
"Deepwater drilling markets - already coming to an end?" by Lars Eirik Nicolaisen, Partner (Published by Offshore Engineer, April) Reporting season Q1 2014 saw deepwater drillers’ reporting numbers in-line with expectations, but still stock prices have plummeted. The reason for this has not been poor operational performance or lack of ability to deliver revenue growth thus far. Based on the ever more bearish outlooks communicated by drilling company management teams, and their inability to fix new contracts for the next 12 months, drilling stocks have been punished hard by markets which now factor in the apparently softening market conditions and lowering revenue growth expectations. What happened to the deepwater playground? Is the deepwater resource extraction already coming to an end after reaching 9% of overall oil supply in 2013 (125m+ water depth)? Read more
"Africa - A Continent with Everything from Mature to Frontier Exploration"by Jan G. Norstrøm, VP Technology (Published by PESGB, April) Looking at the global supply forecast for liquids and gas, we estimate that around 40% of the future supply in 2030 will come from current discoveries not yet sanctioned, or from new undiscovered resources. Africa will be important to meet this supply through their combination of mature and frontier exploration and their central location for international export. Africa holds about 320 bboe (billion boe) of undiscovered recoverable resources. This is in the same order of magnitude expected in the Arctic. Read more
PRODUCT UPDATES M&A Module UCube (our upstream database) now provides an M&A add-on module. It integrates all globally announced deals and deals in play, including who are the sellers and buyers, implied USD/BBl trend analysis, announced dates, asset types in transaction, value range, deal status and hydrocarbon deal content. Read more
North American Shale Intelligence Report: Permian Basin Our latest report represents a deep-dive analysis of the current tight oil development activity in the Permian Basin, including both Delaware and Midland sub-basins. The product can be utilized to improve market analysis, investment decisions and peer group benchmarking. For a first sneak-peak contact us on NAS@rystadenergy.com
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.