Issue: December 2016
Special Focus
Twelve months have come and gone since our editorial advisors offered their thoughts on the global upstream market, and still, the industry just wants one basic question answered: “When are things going to get noticeably better?”
Features
“Something has to change.” In a down rig market, the call-to-action weighs heavily on technology to find a way to do things differently—reduce cost, improve performance or provide another option. Innovative engineering seldom has had more fertile ground than it does today.
A record-setting solid-expandable liner run was used to re-line a non-sour-gas-compliant wellbore in the Eagle Ford shale. This application cleared the way for a gas-lift recompletion, and it boosted production.
As the upstream industry continues its expansion into Arctic waters, a new study sheds light on the industry’s ability to contend with potential safety issues.
Safety is a critical objective for the offshore industry, yet truly understanding how safe operations actually are requires concrete data.
Changing the way that we manage HSE issues and workplace incidents is critical to reducing risk and improving quality throughout an enterprise. To achieve these goals, the petroleum industry must improve HSE performance, using technology and implementing major shifts in cultural, organizational, and human performance paradigms.
Increasingly complex well geometrics and extended well depths present a growing challenge for conveyance. Deep and highly deviated wells that were not previously wireline accessible, especially benefit from using an integrated wireline conveyance system.
Jumbo frac schemes await improving gas prospects
Columns
Miracles do happen
New data on methane emissions
Is a new World Order upon us?
Bringing bowties to life
Solving stranded gas
Report calls for urgent action to prevent North Sea’s rapid decline
Norway at 50 years
Different at the core
Christmas comes early—well, maybe
News & Resources
World of oil and gas
Industry at a glance
People in the industry
Companies in the news
New products and services
Industry leaders outlook 2017
You might think that induced seismicity is a growing topic in our industry and, of course, you would be spot on.
In 2016, activity on the UK Continental Shelf (UKCS) has remained subdued, reflecting the province’s growing maturity, the relatively low oil prices, and high unit costs.
After more than two years of nearly full-time travel as president of the Society of Petroleum Engineers (SPE) and having given hundreds of speeches, I have come to expect certain questions, including, “When will prices recover?” or, “Should I stay in the industry?”
We are approaching the end of 2016, and here, there be dragons.
Editor’s note: This is the third and final installment in the author’s series, Energy Trilogy During the Reign of King Amabo, Ruler of the ASU.
For the past two years, much discussion has focused on the question of when the market will recover.
“Lower for longer”—these are words that try my soul (apologies to Thomas Paine).
Although 2016 was another tough year, the oil market is slowly moving toward balance, while U.S. production is down 900,000 bpd from the peak.
This year’s elections not only turned the political pundit world upside down, they also set the stage for an offshore energy turnaround.
There is broad consensus in the oil and gas sector that we have to cope with a “lower-for-longer” reality, re-confirmed in IEA’s September 2016 Oil Market Report.
In my 43 years in the industry, this cycle has been No. 6 for me.
Competition for quality new venture opportunities will continue to increase, as companies navigate through the political and economic changes occurring throughout the world.
Oil companies are the industry’s growth engines.
As I sat down to write this article, I thought about making a case that the fundamentals were improving as demand growth continues, non-OPEC supply is sputtering (driven by U.S. production declines), and visible OPEC production capacity is limited to Saudi Arabia after post-sanctions Iran increased to 3.7 MMbopd.
