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Buyers' market as Gulf of Mexico lease sale wraps up

20 March 2019

The US Gulf of Mexico region wide Lease Sale 252 was held today, 20 March 2019. The sale attracted 257 bids from 30 companies, with high bids totalling US$244.3 million. An increase of about $66 million (37%) from the last region-wide lease sale in August 2018.

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ExxonMobil and QP land a giant with Glaucus

28 February 2019

ExxonMobil and partner Qatar Petroleum today announced they made a major gas find with the Glaucus-1 well, drilled offshore Cyprus. “Glaucus is a giant,” Robert Morris, senior research analyst, Europe upstream, at global natural resources consultancy Wood Mackenzie, said. He added: “It will be one of the biggest discoveries of the year."

News Release

Brulpadda delivers the goods for Total

07 February 2019

French major Total and its partners, Qatar Petroleum, Canadian Natural Resources, and Main Street, have made a potentially play-opening discovery with the Brulpadda-1 well, in South Africa’s deepwater Outeniqua basin, about 180 kilometres south-east of PetroSA's Mossel Bay gas-to-liquids plant.

News Release

Smoother sailing ahead for upstream supply chain players

06 February 2019

The global offshore upstream supply chain saw signs of recovery in 2018, and this looks set to continue in 2019, according to global natural resources consultancy Wood Mackenzie. As project FIDs increase, demand for equipment and services are buoying the prospects for the upstream supply chain.

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Glengorm ‘largest UK gas find since 2008’

29 January 2019

CNOOC Ltd and Total's Glengorm gas discovery, in teh Central North Sea, is the largest gas find in UK waters since Culzean in 2008

News Release

Outlook sluggish for upstream M&A

21 January 2019

Upstream dealmakers start 2019 facing an uphill battle. Volatile oil prices and bearish equity markets impede deal flow by creating uncertainty, widening the bid-ask spread, altering financial conditions and making companies re-think near-term strategies. In Q4 2018, as these factors emerged, deal count dropped to its lowest level since Q1 2015, with December the slowest month since January 2015.

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Medco Energi's potential takeover of UK-listed Ophir Energy

02 January 2019

On the first day of 2019, Ophir announced it was in talks with Indonesia's Medco Energi regarding a cash takeover. No amount or other details have yet been released, other than Medco has to make a clear binding offer by the 28th of January if a deal is to proceed. Ophir's upstream portfolio includes assets in Thailand, Vietnam, Indonesia, Malaysia, Equatorial Guinea and Tanzania. It also has exploration acreage in Mexico and Bangladesh.

News Release

Upstream companies positioned to thrive in 2019

17 December 2018

Price volatility. Market turbulence. Geopolitical tensions. As 2018 draws to a close the stage is already set for a fascinating 2019 in the upstream industry. In the recently published 2019 upstream and corporate outlook reports, Wood Mackenzie highlights how well prepared the industry is to adapt and thrive in tumultuous times.

News Release

Major LNG buyers' uncontracted demand to quadruple by 2030

13 December 2018

Wood Mackenzie's latest research reveals that uncontracted demand by the world's seven largest LNG buyers could quadruple to 80 million tonnes per annum (mmtpa) by 2030.

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ExxonMobil's Pluma marks a perfect 10

04 December 2018

ExxonMobil’s exploration success in the last few years has established the Guyana basin as one of the world’s offshore exploration hotspots. Luiz Hayum, research analyst with Wood Mackenzie's Latin America upstream oil and gas team, comments on Exxon's latest find, Pluma.

News Release

Big Data adds up to big savings for upstream players

12 November 2018

The upstream sector could save as much as US$75 billion annually thanks to digitalisation and Big Data. In its new report, Digitalisation in upstream: Show me the money, global natural resources consultancy Wood Mackenzie dug into the numbers to see exactly what Big Data could do for Big Oil – and smaller players too.

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Hammond raises hopes of decommissioning hub role for Scotland

30 October 2018

In the Autumn Statement, the UK's Chancellor of the Exchequer Philip Hammond did not make any headline changes to oil and gas tax rates, setting out instead plans to make a "call for evidence" on how to establish Scotland as a global hub for decommissioning.

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OGA gives Alligin and Finlaggan the green light

23 October 2018

UK Oil & Gas Authority gives the Alligin and Finlaggan developments the green light

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Petronas takes 10% stake in Oman’s Khazzan development

23 October 2018

Malaysian NOC Petronas buys a 10% interest in Oman's Khazzan development

News Release

How do the Majors stack up in the Lower 48?

16 October 2018

The Major oil and gas companies have made big strategic bets on the US Lower 48's unconventional plays. The scale, returns and investment flexibility offered by tight oil and gas has made it an essential part of most major players’ portfolios. But how do the players compare to each other?

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Ensco beefs up fleet with Rowan deal

08 October 2018

Offshore driller Ensco is poised to buy smaller rival Rowan in an all-stock deal valued at $2.38 billion.

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Total hits the jackpot at Glendronach

24 September 2018

Total has made a major gas discovery in the UK's West of Shetland region, hitting an estimated 1 trillion cubic feet of gas

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ExxonMobil and Guyana hit Jackpot with latest offshore discovery

01 September 2018

ExxonMobil’s exploration success in the last few years has established the Guyana basin as one of the world’s offshore exploration hotspots. Accounting for 15% of all conventional crude found globally since 2015, no other area has delivered as much conventional oil resource.

News Release

Decommission or redevelop? Brazil's mature Campos basin oil fields await resurgence

28 August 2018

Brazil’s Campos basin is awaiting a resurgence in production according to a new report by Wood Mackenzie, analysing the impacts redevelopment of the basin's mature oil fields could have on production, royalty collection and job creation.

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Bidding down but sums higher in US Gulf of Mexico Lease Sale 251

15 August 2018

On Wednesday, 15 August 2018, the US held its region-wide Lease Sale 251, attracting 171 bids from 29 participating companies, with high bids totalling US$178.1 million. An increase of about $53 million from the last region wide lease sale in March.

News Release

Global upstream project delivery is finally hitting the mark

14 August 2018

Has the oil and gas industry finally turned around its reputation for always delivering upstream projects behind schedule and overbudget? Emerging signs of improved execution suggest companies are getting it right after a period of dismal performance on project returns, according to a new Wood Mackenzie report.

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BP seals asset swap with ConocoPhillips

04 July 2018

BP agrees to increase its stake in the Clair field, offshore West of Shetland, and divest its interest in Greater Kuparuk, in Alaska, via an asset swap with ConocoPhillips

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Mexico's new president: Energy future at a crossroads

02 July 2018

After a contentious campaign, Andrés Manuel López Obrador has won the presidency. Now, the energy industry is trying to determine the incoming administration’s strategic priorities and the implications for Mexico’s energy reforms and its upstream, downstream, gas and power markets.

News Release

Exploration industry eyes a brighter future at EAGE

12 June 2018

In his keynote address to the EAGE 2018 Conference in Copenhagen, Andrew Latham, vice president, global exploration, at Wood Mackenzie, told delegates that the exploration sector emerged from the downturn in better shape, and the economic outlook is looking bright.

News Release

Permian produced water: slowly extinguishing a roaring basin?

11 June 2018

With the recent rise oil prices, operators have been adding rigs and ramping up completions in the Permian Basin – the largest and most important source of oil supply growth in the world. However, persistent operational water challenges present a material risk to companies' future profitability and production.

News Release

East Coast gas prices could rise 30 percent in five years

25 May 2018

In a recent study, Wood Mackenzie forecasts Australia's East Coast gas prices to rise up to 30 percent to between A$10 and A$13 /per gigajoule by the mid 2020s.

News Release

A new era for oil and gas in Mexico

16 May 2018

Look no further than Mexico for an example of what a successful energy reform looks like. Over the past five years, the country has dramatically overhauled its energy landscape. A new report analyses the impacts of the energy reform on the country's upstream sector.

News Release

Chinese shale gas production to almost double in two years

17 April 2018

Shale gas in China has seen significant progress over the last decade, growing to nearly 600 wells and 9 bcm of production last year. In its latest analysis, Wood Mackenzie projects Chinese shale gas production to almost double to 17 bcm in 2020.

News Release

Upstream FIDs pushes on with lower costs

05 April 2018

As previously forecasted by Wood Mackenzie, 2017 saw a significant recovery in upstream FIDs, with the number of project sanctions more than doubled compared to 2016. Wood Mackenzie expects a similar total this year - circa 30 major project FIDs - supported by continued prudence in industry spending.

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US Gulf of Mexico Lease Sale 250

22 March 2018

On Wednesday, 21 March 2018, the US held its region-wide GoM Lease Sale 250, attracting 159 bids from 33 participating companies, with high bids totalling US$124.8 million. The total of high bids represents a modest increase of about US$3 million over last year's August region wide Lease Sale 249 but is still a lacklustre result.

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Search results: 1413

Buyers' market as Gulf of Mexico lease sale wraps up

ExxonMobil and QP land a giant with Glaucus

Brulpadda delivers the goods for Total

Smoother sailing ahead for upstream supply chain players

Glengorm ‘largest UK gas find since 2008’

Outlook sluggish for upstream M&A

Medco Energi's potential takeover of UK-listed Ophir Energy

Upstream companies positioned to thrive in 2019

Major LNG buyers' uncontracted demand to quadruple by 2030

ExxonMobil's Pluma marks a perfect 10

Big Data adds up to big savings for upstream players

Hammond raises hopes of decommissioning hub role for Scotland

OGA gives Alligin and Finlaggan the green light

Petronas takes 10% stake in Oman’s Khazzan development

How do the Majors stack up in the Lower 48?

Ensco beefs up fleet with Rowan deal

Total hits the jackpot at Glendronach

ExxonMobil and Guyana hit Jackpot with latest offshore discovery

Decommission or redevelop? Brazil's mature Campos basin oil fields await resurgence

Bidding down but sums higher in US Gulf of Mexico Lease Sale 251

Global upstream project delivery is finally hitting the mark

BP seals asset swap with ConocoPhillips

Mexico's new president: Energy future at a crossroads

Exploration industry eyes a brighter future at EAGE

Permian produced water: slowly extinguishing a roaring basin?

East Coast gas prices could rise 30 percent in five years

A new era for oil and gas in Mexico

Chinese shale gas production to almost double in two years

Upstream FIDs pushes on with lower costs

US Gulf of Mexico Lease Sale 250

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