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Resilient US oil production will prompt additional volatility in the market Rystad Energy foresees upwards revisions to EIA US oil production figures in coming months, which could prompt additional volatility in the oil market. Forecasts in Rystad Energy’s October Global Oil Market Trends Report show exit-2015 US oil production at 9.3 million barrels per day, which is 300 thousand barrels per day higher than the prevailing EIA forecast. The difference between the two forecasts increases to 500 thousand barrels in June 2016. Read more
"Reexamining shale as a swing producer" by Per Magnus Nysveen, Senior Partner & Head of Analysis, and Leslie Wei, Analyst (Published by Oil & Gas Financial Journal, October Edition) The notion that shale could be a swing producer was especially interesting at the end of last year when oil price started to fall. The industry believed that shale producers would stop completion activity, resulting in fast production decline, and the backlog of uncompleted wells would be able to quickly add production once prices increased. Read more
"Australia E&P: a new era begins" by Olga Kerimova, Analyst, and Theodora Batoudaki, Analyst (Published by PESGB Newsletter) LNG has dramatically changed Australia’s energy landscape, with major projects on track to come online over the next year. This article assesses the outlook for the Australian E&P industry, illustrated by three key drivers: production, resource potential and spending. Read more
Offshore still cheaper than shale; oil sands is struggling Offshore resources remain attractive for new production with a breakeven price within the range of 60-65 USD/bbl, concludes Rystad Energy’s in-depth October study of more than 20,000 non-producing liquid fields. Offshore holds about one third of the global non-developed resources, where most of the resources are located in the Middle East, Brazil and Norway. These regions have benefitted from large offshore commercial discoveries such as Lula and Libra (Brazil), Hamur (Saudi Arabia) and Johan Sverdrup (Norway). Read more
"What to expect from the NCS and UKCS now and in future" by Markus Naevestad, Senior Project Manager, and Jo Husebye, Project Manager (Published by Offshore Magazine, October) The world is currently awash in oil following last year’s productivity surge in the North American shale industry. This downturn will be drawn out as market forces are now required to rebalance supply and demand following OPEC’s decision not to cut production on November 27th, 2014. We will see a cycle this time too but a repeat of the structural downturn in the 1980s and -90s is not expected. OPEC’s spare capacity is only a fraction of that in the 1980s and our field-by-field analysis shows that the supply response will make it increasingly difficult to meet demand post-2017 at current oil prices. Read more
Shale development in Oklahoma: more significant, more transparent Unconventional oil and gas activity in Oklahoma is often overlooked by the market due to a complicated data structure and limited access provided by official state sources. In September 2015, Rystad Energy added complete data for all horizontal shale wells in Oklahoma into its shale well database (NASWellData), in a cleaned and structured format, with monthly updates. Read more
Rystad Energy Product Update Rystad Energy is launching the new NCS Solution, which is a full scale strategy & business development product for companies that want to be continuously updated on the upstream market activities in Norway. This includes fields in production, developments, exploration, M&A and special market insights with production profiles, cash profiles, detailed exploration overview and maps. The NCS Solution provides access to a valuation tool in Excel linked to Rystad Energy databases for tailored made valuation assessments of companies and assets. The solution also provides the user with detailed asset reports for all fields in Norway including recent news on development programs, exploration activities, capex, opex, production profiles and valuation scenarios. The market intelligence is accessible through Rystad Energy maps and databases, industry standard GIS formats and pdf reports. The NCS solution is the complete product for companies wanting to better understand the NCS market and key drivers for value creation in the years to come.
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 Norway (Stavanger), the UK (London), USA (New York & Houston), Russia (Moscow), South America (Rio de Janeiro), Africa as well as South East Asia.