Wood Mackenzie Company News
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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.
Wood Mac Buys Infield Systems to Boost Upstream Offering
Monday, November 09, 2015 Wood Mackenzie is buying an oil and gas business intelligence firm Infield Systems.
Wood Mac: Weak Financials, Growing Production Trending among Majors
Tuesday, November 03, 2015 Wood Mackenzie outlines weak financial performance in 3Q, surging production levels and deep cost cutting as key trends among majors.
WoodMac: Tax Rethink Needed in Sub-Saharan Africa
Wednesday, October 28, 2015 Wood Mackenzie says that revisions to how oil and gas companies are taxed may be needed to unlock sub-Saharan Africa's 48 billion barrels of discovered oil if the current period of low energy prices persists.
As China Gas Boom Falters, State Giants Grapple with Wave of Imports
Friday, October 02, 2015 China's energy giants are being forced to sell a glut of the fuel to buyers in other countries as soaring demand grinds to a halt.
$50 Oil Will Cut Budgets, New Projects to a Sliver of Previous Estimates
Monday, September 21, 2015 Energy sector may need more than belt-tightening to survive in new economic environment in which $50 oil could become the benchmark.
Low Oil Price to Hasten UKCS Decom Opportunity
Thursday, September 10, 2015 The UK oilfield services sector is set to benefit from a significant increase in decommissioning activity in the North Sea, according to industry observers Rigzone has spoken to at Offshore Europe.
Wood Mac: UKCS Decommissioning Activity, Spend Set to Rise
Wednesday, September 09, 2015 Around 140 fields could cease production in the UK Continental Shelf over the next 5 years, resulting in a ramp-up of decommissioning activity and spend, according to a new report from Wood Mackenzie.
Cracking Open Re-fracking: A Flush Rush or Idle Probing?
Monday, August 03, 2015 The industry has attempted re-fracking for years, but now it's about more than extending the life of a well - it's a matter of putting people back to work.
Russian Oil and Condensate Production Hits Post-Soviet Record
Tuesday, July 14, 2015 Russian oil and condensate production reaches a new post-soviet record of 10.7 million barrels a day in 2015, according to the latest analysis from Wood Mackenzie.
Wood Mackenzie: China Faces Weaker Gas Demand and Oversupply Till 2017
Wednesday, June 10, 2015 Wood Mackenzie says China will be faced with weaker gas demand and oversupply till 2017.