• News Release

  NOCs to slash over a quarter of exploration budgets on average in 2020

  • 20 5月 2020

  National oil companies (NOCs) globally are estimated to cut exploration budgets by over a quarter on average in 2020, says Wood Mackenzie.

• Content

  Distress in energy and natural resources

  • 22 5月 2020

  Helping investors evaluate opportunities in energy and natural resources during the Covid-19 crisis

• Webinar

  Webinar | Low oil prices: where next for the Australasian upstream sector?

  • 02 6月 2020

  Australia’s upstream sector was set for a bumper year in 2020. We expected a ramp-up of LNG supply, billions of dollars of new upstream investment, and plentiful growth opportunities via exploration and M&A. But everything changed. The double impact of the coronavirus and the oil price crash has swept through the industry. Upstream operators are in a fight for survival. Join Wood Mackenzie's Australasian team for a live webinar discussing what happens next and why, including: • How the investment outlook has changed • The big reset of pre-FID project timelines, and what it all means • Do low prices present an M&A opportunity? Presenters: Adele Long – Senior Research Manager Daniel Toleman – Senior Research Analyst David Low – Senior Research Analyst

• Editorial

  Cost management in upstream oil and gas

  • 29 9月 2016

  Unit operating costs have steadily increased over the past decade by 60% in real terms.

• Opinion

  Costs: early warning signals

  • 27 10月 2016

  This week’s results announcements from the big oilfield services (OFS) companies show that the market may be turning very quickly.

• Editorial

  Are the Majors set for an Asia-Pacific asset sale?

  • 30 8月 2016

  For more than 100 years Asia played a fundamental role in the growth of the Majors. Could this finally be coming to an end?

• Editorial

  Global capex spend slashed by US$1 trillion

  • 18 7月 2016

  The impact of the drop in oil prices on global upstream development spend has been enormous. Companies have responded to the fall by deferring or cancelling projects.

• Editorial

  The agility of US tight oil

  • 18 7月 2016

  Which US Lower 48 operators have the largest, low-cost tight oil inventory?

• Editorial

  Terminal decline and value benchmarking of mature US plays

  • 08 9月 2016

  We’ve modelled six mature gas plays to see which assets can offer the most upside to investors.

• Editorial

  Deepwater Gulf of Mexico is leaner, smaller and ready to compete

  • 27 7月 2017

  Smaller, simpler projects and infrastructure-led exploration are emerging as the right mix, with subsea tie-backs and infill drilling leading the way.

• Editorial

  The last frontier in Russia: Taimyr Peninsula

  • 19 6月 2017

  The remote region in the Russian north attracts attention with a resource potential of 5 billion boe and a geology similar to that of the prolific West Siberian basin.

• Editorial

  How can governments introduce more competitive fiscal terms?

  • 23 8月 2017

  With capital scarce, terms must be attractive to win new investment.

• Editorial

  How will regulatory changes affect fields in the Gulf of Mexico?

  • 19 6月 2017

  The Bureau of Safety and Environmental Enforcement has changed an important aspect of the leasing terms in deepwater GoM, which is likely to affect fields that have been appraised or are being appraised, and where leases are past their primary term or close to expiring.

• Editorial

  Will pricing levels rebound in the Lower 48 service sector?

  • 09 5月 2017

  After a flurry of development activity in the first quarter of 2017, the US Lower 48 onshore sector is beginning to feel the squeeze of cost inflation.

• Editorial

  Deepwater vs tight oil: levelling the playing field

  • 20 4月 2017

  All eyes have been on US tight oil breakevens and the Permian boom during the past few years. But as deep water exploration has become leaner, this part of the industry has been quietly recovering and improving its own economics.

• Editorial

  Lower 48: Increasing costs push up breakevens

  • 05 5月 2017

  After a flurry of development activity in Q1 2017, the US Lower 48 onshore sector is beginning to feel the squeeze of cost inflation. Although this development was widely anticipated, impacts vary significantly depending on the source as well as project location.

• Editorial

  Permian pulse: upstream awards

  • 01 8月 2017

  Ben Shattuck, Principal Analyst and upstream expert, discusses the winners of our inaugural "Permian Upstream Awards."

• Featured

  When will tight oil make money?

  • 28 7月 2017

  Despite its superstardom in the upstream industry, tight oil remains the subject of debate: can it realise its potential as a profit engine, or will over-investment drive supply up and prices down?

• Editorial

  Vaca Muerta production to reach 113 kboed by 2018

  • 04 5月 2017

  Production from the seven most advanced developments in the Vaca Muerta play is expected to increase by 43% in 2017 to 77 kboed, and to double 2016 levels by 2018.

• Opinion

  Downstream consistency holds lessons for upstream

  • 23 3月 2017

  Downstream continues to demonstrate robust financial performance while upstream struggles.

• Editorial

  Can Asian investors afford to ignore US tight oil?

  • 07 5月 2017

  Although Asian upstream players have been absent over the last 12 months, we believe this might be set to change.

• Editorial

  Oil demand to 2018: Where could we be wrong?

  • 14 3月 2017

  Global oil demand is in for a year of strong growth but even small changes to our forecast could have major implications for price.

• Opinion

  Norway’s upstream sector will prosper — but can the UK rally?

  • 12 1月 2017

  In Norway, interest in the sector is still high, but in the UK, the lowest number of exploration wells for 50 years and another 20% drop in capex point to a deeper malaise.

• The Edge

  A cornerstone of global oil supply – Canada at a cross roads

  • 01 3月 2017

  Canada's investor sentiment soured by environmental concerns and competition for capital from tight oil have already begun to reshape the domestic corporate landscape.

• The Edge

  Oil markets - OPEC restraint needs to stretch into 2018. A supply glut lurks just below the surface.

  • 22 3月 2017

  Why have oil prices come under renewed downward pressure? Our Macro Oils team, led by Ed Rawle, sees three main reasons.

• The Edge

  Needed - upstream strategies to win back investors

  • 16 5月 2017

  ‘Underwhelmed’ sums up investors’ indifferent response to the Majors’ Q1 results. What does upstream have to do to win back favour?

• The Edge

  OPEC underpins oil markets into 2018 - green light for tight oil growth

  • 29 5月 2017

  The firmer oil price we expect can only embolden the already resurgent US tight oil industry which is on course to displace the 1 million b/d OPEC has cut within the year. Three main aspects of the decision stand out.

• The Edge

  Conventional exploration – playing devil’s advocate

  • 06 6月 2017

  Andrew Latham, our Head of Exploration Research, has built a global creaming curve for conventional exploration outside the USL48. Three themes stand out.

• The Edge

  Breaking conventions – tackling the high-cost culture

  • 04 7月 2017

  New thinking and new ways are needed if operators are to usher in a new era of investment in conventional projects. A dip in oil prices below US$50/bbl may be just what’s needed to concentrate minds and encourage companies to challenge industry conventions.

• The Edge

  Upstream strategies - early signs of a shift towards growth

  • 22 9月 2016

  Chief Analyst Simon Flowers sees optimism after a flush of project FIDs, a pick up in US drilling and M&A activity.