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Maximising Value from Mature Fields

Monday, July 28, 2014 until Wednesday, July 30, 2014  |   Posted by Hanson Wade

Ischia Solutions August 2014 Open House

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

Security Management Training Course

Monday, August 18, 2014 until Wednesday, August 20, 2014  |   Posted by PCS Training Consultant

Oil and Gas Offshore Support Vessels Summit

Monday, August 25, 2014 until Wednesday, August 27, 2014  |   Posted by IQPC

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

Monday, September 1, 2014 until Wednesday, September 3, 2014  |   Posted by Glopac Pacific & Partners

Petroleum Innovation Expo

Tuesday, September 9, 2014 until Thursday, September 11, 2014  |   Posted by Petroleum Innovation Expo

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Fall Protection or OSSA Fall Protection

Friday, July 25, 2014 until Friday, July 25, 2014  |   Posted by Allstar Enviro Safety

Free spans and on-bottom stability

Tuesday, July 29, 2014 until Wednesday, July 30, 2014  |   Posted by Jee Ltd

Coker Process, Design, and Troubleshooting Training in Lausanne Switzerland

Tuesday, August 5, 2014 until Wednesday, August 6, 2014  |   Posted by The Refining Community

Fundamentals Of Oil & Gas Drilling

Wednesday, August 6, 2014 until Friday, August 8, 2014  |   Posted by PetroPlanners Global

Bioenergy School: Feedstocks & Conversion Technologies (2 Modules)

Monday, August 18, 2014 until Friday, August 22, 2014  |   Posted by Green Power Academy

The 4 Day MBA in Oil and Gas in Kuala Lumpur

Monday, August 25, 2014 until Friday, August 29, 2014  |   Posted by Warren Business Consulting

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Opinion & Commentary

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

How will independence affect the oil and gas industry in the North Sea?

Friday, July 18, 2014

With Scottish referendum fast approaching, how will independence affect the Oil and Gas industry in the North Sea? It's a question many of the companies based in Scotland have been thinking or even asking the Scottish Government. In one hand it might be seen as step forward moving away from constraints of the UK Government, or in the other hand, it could be seen as a backward step with oil companies losing UK agreements already in place. However, a fundamental question is how much does an independent Scotland rely on Oil and Gas? It is seen that an independent Scotland will need significant revenues to increase their b... Read more

Oil path signals wrong way for world energy

Friday, July 18, 2014

Energy Worlds Apart Recent publication of this year's BP Statistical Review of World Energy illustrates several mega trends in world oil and for energy in general. The Review provides time-series charts where the key change decade of 2003-2013 is covered. These underline how the primacy of oil is threatened. To be sure, wrong way data and false flag trends exist - for example and in particular that China and the US, the world's two biggest economies and two biggest oil importers, now import about a half of the oil they each consume and use. Their combined total oil consumption now runs at slightly above 27 millio... Read more

The rise of Saudi TexKota

Thursday, July 17, 2014

I am fascinated by this report by Dr. Mark Perry of the American Enterprise Institute, and not solely because he quotes from a piece that appeared in this space last year (see Item #4). That piece deals with my belief that, although virtually all the attention related to America’s ongoing Shale Revolution from people outside of the oil and gas industry focuses on the technology of Hydraulic Fracturing (or “Fracking”), horizontal drilling is the true technological marvel that has enabled the industry to unlock the massive stores of oil and natural gas from shale rock over the last 15 years. It is a trul... Read more

Ethanol vs. Natgas-the Summer 2014 Duel

Wednesday, July 16, 2014

How do you invest in the weather? When it comes to weather, what’s bad for natural gas is good for ethanol. These two commodities are almost exactly opposite trades each summer. Hot weather–especially on the populated east coast–makes for lots of air conditioning demand in North America, which increases natural gas prices.A cool summer means low natural gas prices, but it means higher ethanol margins. You see, cool summers make for a great growing season for corn—and this year looks like a record US crop. The Market is now anticipating so much supply that pundits are now suggesting corn could drop t... Read more


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Opinions & Commentary

Would breaking the 'Glass Closet' have been good for BP?

by Loren Steffy

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