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Ischia Solutions August 2014 Open House

Friday, August 1, 2014 until Friday, August 15, 2014  |   Posted by Ischia Solutions Limited

Reserve Estimation Unconventionals Houston 2014

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Security Management Training Course

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Oil and Gas Offshore Support Vessels Summit

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20th Latin Upstream Conference 2014This event has a discount code!

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Fundamentals Of Oil & Gas Drilling

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Bioenergy School: Feedstocks & Conversion Technologies (2 Modules)

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Opinion & Commentary

Tech Talk - Changes in global supply and demand

Monday, July 28, 2014

At the beginning of the month I pointed out that there are three components to the coming Energy Mess. The first of these is the steady increase in global demand for oil and its products, the second is the decline in production from existing wells and fields, and the third is the shrinking pool of places from which new oil can be recovered to make up the difference between the first two. Internal demand gnaws away at that available for export, as the situation in Saudi Arabia clearly illustrates: Figure 1. Changing relation between Saudi production, internal demand and thus available exports. (Energy Export Databrowse... Read more

What ails the North Sea?

Monday, July 28, 2014

There is a need to act before the North Sea ‘fails’ economically Despite continuing high oil prices, the mature UKCS and NOCS producing provinces continue to be challenged by poor economic returns, and companies are clearly hesitating over investing there. In part this is due to exponentiating costs – as some would assert, the expropriation of cash flow by oil field service companies - and project delays. These are topics for “another day”! In part it is due to the failure of oil & gas companies to establish a significant enough reserves base, by a combination of: Exploration for new field... Read more

Why doesn't the 'long emergency' feel like an emergency?

Monday, July 28, 2014

In 2006 when James Howard Kunstler published his breakthrough book The Long Emergency, the next two years seemed to vindicate his warning that the oil age was coming to an end with perilous consequences. Oil soared to $147 a barrel in mid-2008. A few analysts suggested that it was headed for $200; but that was not to be. By autumn the stock market had collapsed and with it the world economy. Oil, too, then collapsed, trading in the mid-$30 range by December as demand for oil fell off a cliff with the economy. It seemed for months that the world was headed for an economic depression. But extraordinary stimulative spendin... Read more

Oil and cash flow: the Kurds' conundrum

Friday, July 25, 2014

Some ten days ago, the Kurdistan Regional Government (KRG) were reported to have sent Peshmerga units into the Bai Hassan and Kirkuk oil fields - formerly under the control of the North Oil Company (NOC) - and both of which are in areas of disputed territory. The KRG subsequently told NOC's workers they had a choice: either work for the KRG, or leave. The reason that the fields have been taken is pretty obvious - the KRG needs revenue and the only way to generate the right amount of homegrown cash is by selling oil. The two fields now under control of the Peshmerga can - in theory - add some 500K bpd to the KRG'... Read more

Marginal field development in the UKCS using innovative low cost solutions

Friday, July 25, 2014

Forty years ago the United Kingdom Continental Shelf (UKCS) boasted a small number of very large oilfields discovered by major operators. Now, as a mature offshore basin, the average discovery size has shrunk to a fraction of what it once was with small and medium independent companies dominating the region. Oil and Gas UK estimate that 42 billion barrels of oil equivalent (boe) have already been produced from the UKCS and a further 12 to 21 billion boe could yet be recovered 1. Many studies show that these resources are likely to be increasingly smaller accumulations which are technically challenging and economically marg... Read more

Oil price, Nabors, Tullow, Chariot and finally...

Wednesday, July 23, 2014

Oil price The WTI price above is a bit spurious as the expiry now means that September WTI is trading at $102.01 and the differential is not quite as low as it seems from the above. With confirmed documentation as mentioned yesterday, that non-professional investors have taken another 25% off the table and I expect more at the end of this week the market looked at the inventory stats from the API yesterday. At 550/- draw in crude was much less than forecast and way down from last weeks numbers so lets see what the EIA do tonight. In the API numbers there was a big build in gasoline and distillate stocks of 3.6m barrels a... Read more

The debt double standard for Canadian vs American energy producers

Tuesday, July 22, 2014

The 49th parallel isn’t just a border between Canada and the United States. It also represents an important line for the amount of debt investors are willing to tolerate in their energy producers. Investors and CEOs have both learned the hard way. Canadian producers with more than 2X debt to cash flow–sometimes even 1.5:1–get no love from the stock market. Typical conservative Canadian investors–they have almost no tolerance for debt. South of the border, energy producers can carry big debt relative to their cash flows and still get high valuations from stock investors. Comparing the recently... Read more

Oil price, Halliburton, Chariot, Sundry and finally...

Tuesday, July 22, 2014

Oil price Oil prices were resilient yesterday but WTI got the better of Brent and you can see that the differential is down to just over three bucks. This is partly because the inventory stats tonight are expected to show another draw and partly as the contract expires today leaving the existing contract trading on thin volume. Brent was also quite strong, traders report that three times during the day it fell below the crucial $107 level and each time it rallied. Most important though was the news that I had been waiting for and expecting, the figures report that by the end of last week the amount of speculative money i... Read more

Oil price, Salamander, Caza, Wressle, Sundry, and finally...

Monday, July 21, 2014

Oil price Interestingly the oil price hasn't held the higher levels that both crudes jumped to immediately after the Ukraine air disaster on Friday. This morning's prices are lower than the close by about 75 cents for WTI and 6 cents for Brent ahead of WTI expiry tomorrow. This reflects the fact that whilst the situation in Ukraine is appalling, the market is realistic, unless sanctions are substantial, supply of oil to international markets is unlikely to be affected. To a certain extent one might be uncharitable and suggest that as long as Germany and much of Europe are dependent on Russia for their gas needs th... Read more

Tech Talk - and things continue to get worse

Monday, July 21, 2014

It is difficult to see any positive interpretation of the changes and conflicts that are increasingly filling the headlines of the press. Fluctuating optimism over the return to credible export production from Libya, to take but one example, is no sooner reported when the news comes of increased fighting in Tripoli, including the international airport. At the same time violence is spreading towards Egypt. Without a strong central government it is likely that the conflicts in that country will continue into the foreseeable future, with continued negative impacts on the export of oil from the country. Transient attempts to... Read more

Are oil and gas companies capable?

Monday, July 21, 2014

Investors, at least those in the UK, are deeply disillusioned with the oil & gas sector, not because they think the oil price is going to drop any time soon, nor because they prefer more fashionable stocks, but because they are mightily disappointed with PERFORMANCE! In some cases, this leads to very strong views. At the June 2014 Finding Petroleum Forum the facts revealed were that: In Exploration, the last 18 months to two years have revealed abject performance, with poor success rates, whether in Mature areas such as NW Europe or in the Frontiers. Developments are habitually late, or way over budget, or fail to deliv... Read more

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Opinions & Commentary

Will earthquake findings shake up the oil industry's response?

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