AN INTERVIEW WITH RALPH A. HILL, PRESIDENT AND CEO OF WPX ENERGY
As the balance of power in the oil industry shifts from large international oil companies (IOCs) to national oil companies (NOCs), business models for players throughout the industry are shifting in response.
Investors from outside the United States are playing an increasingly vital role in the US tight oil and shale natural gas industry, according to the US Energy Information Administration.
The modern global LNG industry is approaching its 50th birthday in 2014. A massive amount of new LNG capacity has been proposed — as much as 350 million (metric) tonnes per year (mtpa) — which, if all were built, would more than double current capacity (of less than 300 mtpa) by 2025.
Liquids production (oil, condensate, and natural gas liquids) from North American shale formations (includes tight oil plays) will most likely reach 8 million barrels per day by 2020, assuming current activity levels will remain constant and only minor changes will occur to the latest reported performance of wells and fleets.
Fort Worth, Texas-based Quicksilver Resources Inc. [NYSE: KWK] said March 29 that it has agreed to sell an undivided 25% interest in its Barnett Shale oil and gas assets for US$485 million to TG Barnett Resources LP, a wholly-owned US subsidiary of Tokyo Gas Co. Ltd.
With three major deals in a month and a half, the Eagle Ford shale formation remains significant in the unconventional resources space.
Environmentalists have made it no secret that they aren't happy with the dramatic rise of the natural gas industry, but given the current economic climate and global market demand, there's no other form of energy they should be more excited about.
PwC US notes that first-quarter deal volume and value increased year over year, and shale deals comprised 46% of total deal volume.
The second most valuable industry to the Norwegian economy after oil and gas production is the Norwegian oil service sector. Making a standing start in the 1970s, this sector today generates $63 billion in revenues with 40 percent ($26 billion) of that figure coming from the sale of Norwegian technologies to foreign markets.
Let's talk about the dramatic changes that have taken place in the petroleum industry just in the past several years. It's quite a story.
Ahead of the annual SPE London Conference, Alejandro Primera, senior reservoir engineer and continuing education chair for SPE London examines the uncertainties surrounding sub-surface characterization and how it impacts on an oil and gas firm's future performance.
PLS reports that global upstream oil and gas M&A activity in Q1 2013 slowed to $20.6 billion in 106 deals with values disclosed (176 total deals) compared to a record $140.9 billion in Q4 2012 with 208 deals with values disclosed (306 total deals).
Revenues for the group of publicly-traded US-based companies tracked by Oil & Gas Journal and Oil & Gas Financial Journal grew in the final quarter of 2012.
Kenneth R. Peak, oil and gas visionary and founder, chairman, and former CEO of Contango Oil & Gas Co., passed away April 19 at the age of 67 after a courageous battle with an inoperable brain tumor.