News Topics: Analysis & Trends
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EarthStream Says Hiring Companies Gain from Decline in Oil Price
Monday, January 26, 2015 Falling oil price allows hiring firms to cope better with skilled shortages in the industry as more experienced candidates are available at reasonable salaries, an EarthStream executive says.
Argentina: Best Candidate for Next Shale Boom?
Monday, January 26, 2015 London-based research firm Visiongain argues that Argentina could turn out to be the best candidate for the next shale boom.
Kemp: North Dakota Oil Rigs Drop Points To US Output Decline After May
Monday, January 26, 2015 The decline in oil drilling in the US should ensure that US production peaks by April or May.
Mexico Looks The Other Way As Contractors Fleece Oil Giant Pemex
Friday, January 23, 2015 A recent rig deal, a Reuters examination finds, is typical of the way Pemex and the government respond to widespread signs of fraud in the company's vast contracting budget: by looking the other way.
Wood Mac: US Onshore Well Count to Fall by 26% in 2015
Friday, January 23, 2015 Oil prices under $50/barrel will results in a decline in North American well counts and rig day rates as operators scale back 2015 spending plans.
RIA: Russia's Novatek Sees 2015 Gas Output Up 6%
Friday, January 23, 2015 Russia's Novatek sees its 2015 gas output increasing by six percent and its production of liquids more than 40 percent greater.
Saudi Oil Minister Naimi To Stay For Now, Policy Steady
Friday, January 23, 2015 Saudi Arabia's new King Salman was quick to keep veteran oil minister Ali al-Naimi in a message aimed at calming a jittery energy market mindful of Naimi's powerful role within OPEC.
In Battered Oil Services Sector, Smallest Look Weakest
Friday, January 23, 2015 Slammed by plunging oil prices, oil services companies face a bleak outlook of cutbacks and contract cancellations.
SubseaIQ Hotspot Review: 2014 Notable Discoveries, Startups
Friday, January 23, 2015 With everyone focused on companies cutting budgets and announcing layoffs, SubseaIQ takes a break to look at some discoveries and production startups in 2014.
Gunvor: No Rebound To $100 Oil, Contango To Deepen
Thursday, January 22, 2015 Gunvor's head of analysis says crude was unlikely to return to $100 a barrel in the foreseeable future.
Oil Majors Seek To Claw Back Costs From Service Firms
Thursday, January 22, 2015 Global oil majors say they are demanding cheaper but better services from engineering and service companies, or simply taking work back in-house.
Saudi Brinksmanship: Economics Behind Reluctance to Fiddle with Oil Prices
Thursday, January 22, 2015 Much of the downward spiral in crude oil prices results from the maneuverings of Saudi Arabia, points out analyst Faraz Shams.
Top Tips: Applying for Your First Graduate Job in European Oil, Gas
Thursday, January 22, 2015 Rigzone talks to graduate recruiters at BP and OMV about their tips for university students applying for a graduate job in oil and gas.
Genel Slashes 2015 Revenue Forecast on Weak Oil Prices
Wednesday, January 21, 2015 Kurdistan oil producers Genel slashes its 2015 revenue forecast, citing weak crude prices.
Junior Oil Firms: Not All Doom and Gloom
Wednesday, January 21, 2015 As many junior energy companies suffer amid the oil price rout, Rigzone finds out which of the smaller oil and gas firms are best placed to weather the storm.
Minister: Total Likely to Ditch Cyprus Offshore Gas Search
Wednesday, January 21, 2015 France's Total is likely to abandon a search for oil and gas off Cyprus after failing to find tangible evidence of reserves.
Kemp: Oil Producers' Under-Appreciated Role in US Economy
Wednesday, January 21, 2015 The states at the heart of the American shale oil revolution all grew faster than the US national average over the last decade, underscoring the importance of oil production to the US economy.
Australia Prepares for Growing Challenges as Market Environment Evolves
Tuesday, January 20, 2015 With Australia's oil and gas industry now at a crossroad, Rigzone talks to several industry experts to gauge their reaction to the emerging market conditions.
China's Yards Brace for Leaner Times as Oil Slump Sours Rig Building Spree
Monday, January 19, 2015 For China's shipyards, the oil rig market that was supposed to be a blessing is in danger of becoming a curse.
Douglas Westwood: 'Offshore Drilling Contractors Facing Uncertainty'
Monday, January 19, 2015 Douglas-Westwood comments on offshore drilling contractors facing uncertainties in its latest edition of DW Monday.
Iraq Produces Record 4M Barrels per Day of Crude in December
Sunday, January 18, 2015 Iraq hits four millions barrels of crude oil per day during December.
Amid US Oil Price Crash, Cost Cutting Ripples Through Industry
Friday, January 16, 2015 Any lingering doubt about the depth of the crisis facing the US energy industry is quickly evaporating.
Rig Trends: Gulf of Mexico Jackup Market Showing Effects of Slowdown
Friday, January 16, 2015 Low oil prices are wreaking havoc for the worldwide offshore rig fleet and the Gulf of Mexico jackup market is no exception.
Wood Mackenzie: Operators Could See up to 40% in Cost Reductions
Friday, January 16, 2015 Wood Mackenzie lists 15 things to watch for in North America's upstream sector in 2015.
API's Gerard to President Obama: Follow Facts and Science, Not Politics
Thursday, January 15, 2015 API's Jack Gerard discusses the state of the energy industry, and the upcoming State of the Union address.
BP Set for North Sea Job Losses, but Industry Urged to Invest in Region
Thursday, January 15, 2015 BP is set to announce "significant" job losses in the North Sea as consultancy Deloitte calls for oil companies and the government to continue to invest in the region.
Mexico Says Oil Slump Could Delay Some Tenders, Hit Public Spending
Thursday, January 15, 2015 Mexico says that the tenders for the exploration and production of shale and other more expensive oil and gas deposits could happen later than planned due to the slump in oil prices.
Norway Oil Spending, Output to Fall on Low Crude Prices
Thursday, January 15, 2015 Norwegian energy investments are set to tumble this year, exacerbating a drop in oil production.
Det Norske Achieves 4Q Increase in Production
Wednesday, January 14, 2015 Det norske oljeselskap achieves a 6.8-percent quarter-on-quarter increase in net production from its Norwegian Continental Shelf assets.
Kemp: California Oil Drillers Hit Hard By Tumbling Prices
Wednesday, January 14, 2015 California's oil industry is being hit harder than any other state by falling prices because of the comparatively poor quality of its crude and its aging fields.
Fed: Oil Price Drops Bring Pain To Texas, North Dakota
Wednesday, January 14, 2015 A plunge in energy prices is hitting America's oil and gas producers, leading some firms to lay off workers while others struggle to get loans, the Federal Reserve says.
Oil, Gas Managers Scale Back Hiring Plans in 2015
Wednesday, January 14, 2015 A recent Rigzone survey paints a picture of ambiguity for oil and gas professionals in the year ahead, a steep change from survey results just six months prior.
Rich Dividends Of Drillers Seen At Risk In Oil Slide
Wednesday, January 14, 2015 The steep decline in crude oil prices may put a halt to dividend payouts that regularly yield 10% or more from offshore drilling contractors including Transocean, analysts and investors say.
Alberta Likely To Face Recession Because Of Low Oil Prices
Tuesday, January 13, 2015 Alberta's oil-heavy economy will likely dip into recession as oil prices plunge, according to a report by a Canadian economic think-tank.
Kemp: Breakeven And Shut-In Prices For Oil Wells
Tuesday, January 13, 2015 Any discussion about the outlook for production needs to start with an understanding of the life cycle of an oilfield and the distinction between breakeven and shut-in prices, analyst John Kemp says.
Newspaper: China 2014 Gas Output Growth Quickens to 10.7%
Tuesday, January 13, 2015 China's domestic natural gas production rose 10.7 percent last year, faster than in the previous year, as the country's first shale gas field added to output from conventional deposits, an official newspaper reports.
Pertamina Hulu Energi on Course for Expansion off Indonesia
Tuesday, January 13, 2015 Lower oil prices are unlikely to deter Pertamina Hulu Energi from developing upstream projects off Indonesia, but it plans to keep costs under control.
Oil, Gas M&A in Upstream Sector Climbs to $37 Billion in 4Q 2014
Tuesday, January 13, 2015 The total value of upstream oil and gas m&a deals, according to data from the Evaluate Energy M&A database, reached $37 billion in 4Q 2014, a slight increase from the $35 billion total of 3Q.
Tullow To Begin Oil Sector Job Purge As Weak Prices Bite
Tuesday, January 13, 2015 Tullow Oil is planning to cut some of its 2,000-strong workforce, a source familiar with the company says, starting an expected avalanche of job losses.
Rig Maker Lamprell Expects 2015 Revenue Below Current View
Monday, January 12, 2015 Rig-maker Lamprell says the slump in oil prices hurt its ability to secure new business, and that it expects its revenue for this year would be about 10 percent below current expectations.
As Oil Plummets, How Much Pain Still Looms For US Energy Firms?
Monday, January 12, 2015 With nearly a quarter of US energy shares' value wiped out by oil's 6-month slide, investors are wondering if the sector has taken enough punishment.
Max Petroleum Sees 4% Increase in Reserves
Friday, January 09, 2015 Kazakhstan-focused junior Max Petroleum sees its 2P reserves increase four percent to 9.9 million barrels of oil equivalent.
Kemp: Bakken Oil Producers Need $55 To Keep Production Steady
Friday, January 09, 2015 North Dakota needs an oil price of around $55 per barrel and a fleet of around 140 rigs to sustain production at the current level of 1.2 million barrels per day, the state's chief regulator says.
The Debate About Fracturing Must Be Based On Sound Science
Friday, January 09, 2015 The fracking hysteria that's been created has people scared to death. Meanwhile, Dr. Dan Hill urges consumers "to keep an eye out for claims masquerading as 'science'".
Nearly 2% Of Global Crude Could Be Cash Negative at $40 Brent
Friday, January 09, 2015 Wood Mackenzie concludes that producers could start shutting in production at $40/bbl Brent crude or lower, causing a significant reduction in global supply.
Investment Bank Analyst Discusses Slide in Crude Prices
Thursday, January 08, 2015 Crude oil prices could remain low for some time, but will likely rise to the $60 to $70 range sometime during 2015, a global investment banking analyst says.
Canada PM: Resilient Oil Industry Will Survive Low Prices Shock
Thursday, January 08, 2015 Canadian Prime Minister Stephen Harper says the country's energy industry was resilient and could survive the stresses caused by plunging crude oil prices.
PM: Norway's GDP Growth Seen Dragged Down By Low Oil Price
Thursday, January 08, 2015 Norway's economic growth will be lower in 2015 than previously predicted due to the low oil price, Prime Minister Erna Solberg says.
Sources: Petronas May Slash Domestic Investment 30% as Crude Slumps
Thursday, January 08, 2015 Petronas may slash capital expenditure even more than it has signalled because the continuing rout in oil prices has hurt revenue, with domestic spending facing cuts of about 30 percent, sources say.
Cowen: Global Oil and Gas Exploration Spending to Slide 17%
Thursday, January 08, 2015 The world's oil and gas exploration companies are expected to cut capital expenditures 17 percent this year as a deep slump in crude oil prices takes a toll on budgets, according to a survey by Cowen and Company.
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