Wood Mackenzie Company News
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Gulf of Mexico Lease Sale 252 Saw $244.3MM in High Bids
Thursday, March 21, 2019 Thirty companies participated and submitted almost $284 million in all bids for acreage in the federal waters of the Gulf of Mexico.
LNG Import Growth Underway in India
Thursday, March 07, 2019 The commissioning of India's first east coast regas terminal signals a period of rapid growth.
Repsol Makes Gas Discovery in Indonesia
Wednesday, February 20, 2019 Repsol S.A. has unlocked the largest gas discovery in Indonesia in 18 years.
Major LNG Buyers' Uncontracted Demand to Quadruple by 2030
Monday, January 21, 2019 Wood Mackenzie expects a record number of FIDs on LNG projects in 2019.
Five LNG Trends to Watch in 2019
Thursday, January 10, 2019 Wood Mackenzie predicts a mixed mood for the LNG market.
US Gulf of Mexico On Track for Historic 2019
Thursday, December 20, 2018 Activity booms, first-ever production and key sanctions are some of the factors leading to a grand year for the US Gulf of Mexico, analysts say.
North America LNG Rebound to Continue in 2019
Tuesday, December 18, 2018 North America should lead an expected record year for global LNG project sanctions in 2019, predicts Wood Mackenzie.
LNG Project Sanctions Set to Surge in 2019
Friday, December 14, 2018 Uncontracted demand by the world's seven largest LNG buyers could quadruple to 80 mtpa by 2030.
OPEC Is Alive and Highly Relevant
Monday, December 10, 2018 OPEC has been described as alive and well and highly relevant following the announcement of its latest output cut deal.
Cost Inflation Threatens Deepwater Recovery
Tuesday, November 27, 2018 Cyclical cost inflation could threaten an otherwise recovering deepwater industry, according to a new report by WoodMac.
Digitalization Can Save Upstream Sector $75B Each Year
Monday, November 12, 2018 A new study by Wood Mackenzie shows how the US Lower 48 has led the way in utilizing technology to transform their business.
WoodMac Says South Sudan Outlook Shaky
Wednesday, November 07, 2018 South Sudan's optimism about restoring oil output to 350,000 barrels a day depends on the success of a recent peace deal and both are unlikely, according to Wood Mackenzie Ltd.
Move Over, Permian. Bakken's Making a Comeback.
Wednesday, September 26, 2018 North Dakota oil production reached a record high in July and the Bakken is primed for growth.
Canada Shale Drillers Feel Permian Pain as Prices Collapse
Thursday, September 20, 2018 The Permian Basin isn't the only oil field facing pressure from pipeline bottlenecks.
New US LNG Projects May Feel Pinch from Latest Salvos in US-China Trade War
Wednesday, September 19, 2018 What could the most recent chapter in the ongoing US-China trade dispute mean for the growing US LNG export market?
Does Private Equity Have a Future in Deepwater Gulf of Mexico?
Wednesday, September 19, 2018 New analysis by Wood Mackenzie takes a look at private equity in the US Gulf of Mexico, exploring operational strategies and potential risks.
Study Suggests Pipeline Delay Worries Among Permian Producers
Wednesday, September 12, 2018 Oil producers in the Permian appear to be worried that key pipeline projects to boost takeaway capacity from the region might not hit their 2019 targeted start-up dates.
Guyana Can Become Richest Corner of the Continent
Friday, August 31, 2018 Analysis from WoodMac says ExxonMobil's latest discovery offshore Guyana will help the country create the greatest value of any offshore basin.
Industry Body Outlines Mood of UKCS Oil, Gas Sector
Tuesday, August 28, 2018 Oil & Gas UK talks about the mood of the UK Continental Shelf oil and gas sector.
Report Envisions 30,000 New Offshore Brazil Jobs
Tuesday, August 28, 2018 Wood Mackenzie contends that Brazil's mature Campos basin oil fields could produce an extra 230,000 boepd with the right investment.
Talos Energy Wins Discovery Award for 2017 Offshore Mexico Find
Wednesday, August 08, 2018 Pictured l-r are: Loren Long, Vice President Mexico, Talos Energy; Timothy Duncan, President & CEO, Talos Energy; Tom Wilker, SVP Subsurface, Wood Mackenzie; and John Parker, Executive Vice President Exploration, Talos Energy.
Permian Decline Rate Inaccuracies Risky for Operators, Investors
Monday, July 30, 2018 A new report by Wood Mackenzie examines the risks facing operators and investors from inaccurately estimating well decline rates in the Permian.
WoodMac: New Regulations to Help Boost Brazil's Pre-Salt Oil Production
Wednesday, June 20, 2018 A new report by Wood Mackenzie finds that Brazil's new local content policy can speed up the deployment of FPSO units.
OTC2018: It's a Digital Transformation. Is the Industry Ready?
Thursday, May 03, 2018 WoodMac's Preston Cody discusses how the E&P industry is faring in the digital transformation.
Why Canada Is The Next Frontier For Shale Oil
Monday, January 29, 2018 Canada is the first country outside the United States to see large-scale development of shale resources.
WoodMackenzie: Norway Remains Among World's Top 10 Places To Discover Oil
Thursday, October 12, 2017 Norway remains among the top 10 places to find oil worldwide, consultancy firm Wood Mackenzie says.
WoodMac: LNG Growth To Propel Oil And Gas Industry's Carbon Emissions
Wednesday, September 20, 2017 LNG will be the biggest source of carbon emission growth for the world's top oil and gas companies by 2025, according to a new study by Wood Mackenzie.
Could Argentinian Politics Beat the Vaca Muerta?
Monday, July 10, 2017 Upcoming election results could jeopardize the current administration's tenure and snuff out the oil and gas industry's confidence in one of the world's richest shale basins.
WoodMac: 2017 Is The Year To Invest In The North Sea
Friday, March 03, 2017 Low supply chain costs are making 2017 the year to invest in the North Sea, according to a new report from Wood Mackenzie.
WoodMac: Oil Exploration Spending May Drop Further Next Year
Friday, December 09, 2016 Global spending on oil and gas exploration in 2017 could fall below this year's $40 billion, but lower costs mean profitability will increase, consultancy Wood Mackenzie said in a report on Friday.
WoodMac: 50% of Oil Majors' Production could be Hit with Carbon Costs
Friday, November 18, 2016 Up to 50% of oil majors' production could be hit with carbon costs over the next decade, if the countries and regions that currently price carbon extend their policies to the extractives sectors.
European Industry Says Trump Must Define Energy Policy
Wednesday, November 09, 2016 Europe's oil and gas industry is likely to benefit from Trump in the White House, but calls for a clear energy policy framework from the President Elect.
Permian Panic Driving One-Quarter of Global Oil, Gas M&As
Friday, September 09, 2016 Interest in the Permian Basin heats up as operators look for new tight oil upside in the Lower 48.
Oil Discoveries At A 70-Year Low Signal A Supply Shortfall Ahead
Tuesday, August 30, 2016 Explorers in 2015 discovered only about a tenth as much oil as they have annually on average since 1960. This year, they'll probably find even less, spurring new fears about their ability to meet future demand.
NCS Investment Shrinks on Project Delays, Cancellations
Monday, August 29, 2016 Operators seeking to cut costs defer or cancel $50 billion in oil and gas project investment on the Norwegian Continental Shelf, Wood Mackenzie finds.
Oil M&A Is Back as Industry Shifts From Survival to Growth
Friday, August 26, 2016 Multibillion-dollar oil and gas deals are back on the table.
Tight Gas Helping Argentina Operators Reverse Production Decline
Thursday, August 18, 2016 Tight natural gas reservoirs are boosting production in Argentina's Neuquen Basin, but well performance in these reservoirs varies greatly.
Crude Prices to Edge Up in Near Future
Monday, August 08, 2016 Crude oil prices will shift higher in the near future, says energy advisory firm FirstEnergy Capital, after dropping from over $50 per barrel in June to $42.34 per barrel at the time of writing.
WoodMac: Most Major Conventional Oil Projects At Risk At $50 Oil Price
Wednesday, July 13, 2016 Most major conventional oil projects are at risk of cancellation or deferral if global prices remain at $50 a barrel, consultancy Wood Mackenzie says.
Oil Industry to Cut $1 Trillion in Spending After Price Fall
Wednesday, June 15, 2016 The oil and gas industry will cut $1 trillion from planned spending on exploration and development because of the slump in prices, leading to slower growth in production, according to consultant Wood Mackenzie Ltd.
Over $87B to be Spent on UK Continental Shelf Decommissioning By 2046
Tuesday, June 07, 2016 Over $87 billion will be spent on decommissioning activity within the UKCS over the next 30 years, says Mark McAllister, chairman of The Decommissioning Company.
UK Oil, Gas Firms Plan Further Cost Cuts
Monday, June 06, 2016 Almost half of UK oil and gas firms are planning further cost cuts to help manage the impact of the industry downturn, according to the Bank of Scotland's report on the oil and gas industry.
UK Oil, Gas Industry Set to Become Decommissioning Pioneer
Wednesday, May 25, 2016 The UK oil and gas industry is set to become a pioneer in decommissioning activity globally and has the opportunity to become a leader in this field, according to Wood Mackenzie.
Global Oil Market Could Face 4.5M Bpd Shortfall by 2035
Wednesday, April 27, 2016 The global oil market could face a supply shortfall of 4.5 million barrels per day by 2035 if exploration success doesn't improve, according to a new study by Wood Mackenzie.
Wood Mac Sees Deferrals in Global Oil, Gas Projects Reaching $500B in 2016
Thursday, March 24, 2016 Deferrals in global oil and gas projects may increase to half a trillion dollars this year, up from the previous estimate of $400 billion, a Wood Mackenzie consultant says.
Wood Mac: Producers Continue to Run Loss-making Oilfields
Friday, February 05, 2016 Less than 0.1% of global production has been halted to date even though 3.5% of global supply is currently cash negative, says Wood Mackenzie.
Wood Mac: 2016 Promises Upstream Opportunities despite Tough Times
Thursday, January 28, 2016 A new report from oil and gas consultancy Wood Group shows that 2016 promises many opportunities around the world for the upstream sector in spite of challenging times.
Wood Mackenzie: 68 Upstream Projects Deferred, Deepwater Hardest Hit
Thursday, January 14, 2016 Wood Mackenzie indicates that 68 upstream developments have been deferred due to the impact of continued low oil prices, with deepwater projects the most affected.
WoodMac: Oil, Gas M&A Deal Flow to Ramp up in 2016
Wednesday, January 06, 2016 A new Wood Mackenzie report suggests that merger and acquisition activity in the upstream oil and gas sector will ramp up this year regardless of what happens to the oil price.
Wood Mac: Vaca Muerta Shale Play to Double Output by 2018
Thursday, November 19, 2015 Wood Mackenzie expects production from Latin America's Vaca Muerta shale play to double by 2018.