Open markets can be a powerful ally for a world seeking to manage short-term disruptions to energy supply and meet long-term demand, BP group chief executive Bob Dudley declared at the June launch of the BP Statistical Review of World Energy…
The US oil & gas industry grew across several categories in 2011, including a 38% increase in exploration and development spending, according to new analysis from Ernst & Young. Russell McCulley reports.While total capital expenditures among…
Total spending for upstream oil & gas will hit nearly $1.3 trillion this year, led by a robust North American market, according to a new report by IHS.Driven by strong oil prices and the North American unconventional gas boom, global upstream…
The iPZIG at-bit inclination, gamma ray and imaging service has been introduced by PathFinder, a Schlumberger company, to help optimize well placement in target zones through early bed boundary detection.Developed specifically for unconventional…
Merger and acquisition activity in the oil & gas industry rebounded in 2010, up 35% over the previous year, Ernst & Young said last month. Global transaction value hit $270 billion last year, up from about $200 billion in 2009, the company said…
Now in its 43rd year, the Offshore Technology Conference returns to Houston’s Reliant Park 30 April-3 May. Almost as old as the offshore industry itself, the annual gathering has thrived throughout an E&P era marked by peaks, valleys, tremendous…
ITF last month outlined the specific challenges that its membership of operator and service companies want to see tackled as priorities in 2012. Up to 100% funding will be available for the right solutions to some of the industry's most pressing challenges…
Andrew McBarnet speculates whether evolving microseismic monitoring technology being harnessed for the US onshore shale gas revolution could end up offshore. The rapid development of US onshore shale gas must count as the most stunning turnaround ever in the country's energy prospects…
When a story becomes the story it may sell a few more newspapers for a couple of days but most editors know that this is not a good way to the future – unless of course ideologically driven or vested interest motives become barely disguised…
The number and total value of US oil & gas mergers and acquisitions dipped slightly in 2Q 2011 over the same period last year, according to a recent PricewaterhouseCoopers (PwC) study. But the average deal value for the largest transactions rose by 14%…
At the EAGE annual meeting in Vienna Andrew McBarnet discerned a mood of surprising equanimity in the marine seismic community.Some titles are hard to live up to. So, even though the recent annual meeting of the European Association of Geoscientists…
Earlier this year the refrain was ‘$5 natural gas forever', based on the US Energy Information Administration's (EIA) annual outlook, which argued that natural gas prices will remain below $5 per million btu until 2022. The underlying rationale was growth in the ‘vast' US shale gas resource base…
As an indicator of the health of the oil & gas industry, attendance at May's Offshore Technology Conference in Houston suggests that recovery from the global recession is well underway. OE looks back over some of the sights and sounds of OTC 2011…
Once in a while I would like to look inward and discuss technical advances in the industry or how things have evolved. In the case of hydraulic fracturing, the process has emerged as the premier production enhancement technique in oil and gas…
LNG business took a hit last year as the economic downturn put the brakes on global natural gas demand just as US shale gas output started to surge. Infield Systems’ Peter Kiernan reviews the changing gas market fundamentals and assesses the…
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