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How to value upstream oil and gas assets

27 September 2019

Oil and gas asset valuations can vary widely, but the process of assessing value is fundamentally the same. Discover the three-step upstream asset valuation process.

Opinion

The Norwegian emissions dilemma

05 August 2024

What is the real impact of curtailing production from Norway on the broader European energy landscape?

Opinion

The US energy transition rides on the electric F-150

21 May 2021

Ford has launched the electric version of its best-selling F-150 truck. Its success or failure will have a big impact on the electrification of transport in the US, and on climate policy.

Opinion

Upstream investment in Africa: what does the future hold as new investment hotspots replace legacy producers?

18 September 2024

Upstream investment in Africa has been slower to recover from the pandemic compared to more agile regions with lower costs. Moving forward, we expect investments of around US$40 billion annually, or 8% of global capex, to be the new normal.

Opinion

Downstream consistency holds lessons for upstream

23 March 2017

Downstream continues to demonstrate robust financial performance while upstream struggles.

Comment

US$210bn of new spend in firing line as players target cost cuts

02 April 2020

The oil price crash has hit the upstream sector hard. Deep cuts are being made across the board, but it will have a dramatic impact on the industry’s project pipeline. Global natural resources consultancy Wood Mackenzie believes almost all pre-FID projects will be deferred. Of the 50+ projects we identified with potential to go ahead this year, only 10 have a chance of proceeding, but all are at risk.

Editorial

Four themes to watch as the Majors position for a new era

02 April 2018

With the Majors emerging from the downturn standing strong, they're transitioning from 'survive' to 'thrive'. Although capital discipline remains central to the strategic framework of these companies, they must still position their portfolios for the fundamental changes reshaping energy demand in the coming decades.

News Release

OPEC+ prepares for market uncertainty with continued 2 million b/d production cut

06 December 2022

Speaking after today’s OPEC+ meeting, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said “The decision by OPEP+ to continue with its recently agreed 2 million barrels per day (b/d) production cut through the end of 2023 is not a surprise, given the uncertainty in the market over the impact of the 5 December EU Russia crude oil import ban and the G7 price cap. In addition, the producers group faces downside risk from the potential for weakening global economic growth and China’s zero Covid policy.”

Opinion

2021 – cheerful or fearful?

13 January 2021

And after the 12 months we’ve all just experienced, making bold predictions for the year ahead is more fraught than ever: nothing is off the table.

The Edge

Upstream needs to learn from Downstream

15 February 2017

If oil markets remain oversupplied and prices modest, there’s much Upstream operators can learn from Downstream, which has emerged thriving from the doldrums of a decade ago.

News Release

Permian operators cash in ... by thinking inside the box

21 August 2019

As the tight oil sector continues to mature, producers are looking for ways to optimise their operations, improving efficiency of both production and costs. It's a battle to win back investor confidence. New research from Wood Mackenzie underscores the fact tight-oil operators are no longer chasing growth at all costs. Development strategies have firmly shifted to focus on scale: drilling sections instead of wells, with compressed paybacks, at the lowest possible cost. Many are favouring a “cube” development strategy, viewing it as the most efficient way to capitalise on cost savings.

The Edge

A Biden administration: implications for the energy industry

09 November 2020

The energy sector faces a very different future under President-elect Biden. What are the implications for the oil market? How will key US geopolitical relationships change? And can a Biden administration push through its climate change goals?

Opinion

Global upstream M&A picks up the pace

01 September 2021

In the first half of 2021 upstream M&A deal activity recovered to 2019 levels and more than doubled in comparison to the low point in the first half of 2020.

News Release

OPEC agrees 1.5m b/d output cut as coronavirus eats into global demand

05 March 2020

The OPEC oil producers' group and its non-OPEC allies are poised to deepen its production cuts by 1.5 million barrels per day as the coronavirus (Covid-19) outbreak eats into global oil demand.

Featured

Wood Mackenzie 2022 Research Excellence Awards

28 February 2023

In 2022 our global analysts created an outstanding body of research, exploring everything from progress on the path to net zero to the impact of Russia's war with Ukraine.

Opinion

US tight oil and the global oil market

21 September 2020

Currently, US tight oil meets 10% of global demand. Find out how a slow recovery would impact the global oil market, and what it would mean for OPEC and non-OPEC producers.

Opinion

OPEC+ strikes a deal to avoid oil glut

04 December 2020

The production cuts agreed by the OPEC+ group in April have been highly effective in rebalancing the oil market after the pandemic sent demand plunging. With hopes growing of a stronger rebound next year, some countries, led by the United Arab Emirates, have been calling for OPEC+ to stick to its plan to allow almost 2 million b/d of extra production in January. But demand is expected still to be weak in the first quarter at least, as the Covid-19 vaccines begin to be rolled out. An OPEC+ production increase of that size would have risked an oversupplied market and falling crude prices. Facing that risk, the OPEC+ ministers pulled back from the brink and agreed a production increase of just 500,000 b/d, to be reviewed for possible further increases every month.

Comment

OPEC+ surprises market as it extends output curbs

04 March 2021

OPEC+ took the market by surprise when it decided to roll over its quota, saying that rather than anticipate a demand recovery, the group would wait to see it actually recover. The market was expecting a substantial increase in production because a tightening in the supply and demand balance is already evident.

The Edge

OPEC’s battle for control of the oil market

18 June 2019

Persistent non-OPEC volume growth poses a challenge. Get our latest OPEC and non-OPEC supply forecasts.

News Release

Can upstream cost savings stick?

15 December 2017

The impact of the 2014 oil price collapse is still being felt across the upstream sector. Operators have cut investment, deferred projects and implemented tough cost discipline, slashing US$910 billion from global capital expenditure estimates for 2015-2020. While many operators believe the cuts will stick, a new survey released today by natural resources consultancy Wood Mackenzie indicates the pictured is more nuanced.

The Edge

How the price war is hurting US tight oil

26 May 2020

Arresting the explosive growth of US tight oil was a clear target of the price war after the OPEC+ meeting collapsed in March. What's been the effect on drilling and investment? How much will production fall and how quickly? Will tight oil recover and get back on a growth path? Find out more in this week's Edge.

News Release

Renewable energy could reduce Asia Pacific LNG plant emissions by 8%

17 August 2020

Using renewable energy to power liquefied natural gas (LNG) plants in Asia Pacific could reduce emissions by about 8%, says Wood Mackenzie.

Featured

Wood Mackenzie 2020 Research Excellence Awards

23 March 2021

In 2020, our global analysts produced an outstanding body of research to help steer our clients through the challenges and uncertainty of the Covid-19 pandemic. Our annual Research Excellence Awards celebrate the very best of that compelling and timely insight.

Opinion

Biden, China and politics of energy

11 November 2020

As the new administration looks to take the US back into the Paris climate agreement, will the US and China work together on tackling global warming?

The Edge

Big Oil’s separate paths to decarbonisation

12 March 2021

All of the Majors have strategies for the energy transition, they're just doing it in different ways. The Euro Majors have set net-zero targets and are diversifying into renewables; the US Majors' strategy is about decarbonising oil and gas. What's behind the different approaches? How will coming changes in US policy on climate change influence the US Majors' strategies? And what about ESG pressure from investors?

News Release

Is deepwater ready for cost inflation?

27 November 2018

In a newly published report, Wood Mackenzie notes that the deepwater industry appears in good health, following a sustained cost reduction through the downturn. However this hard work is in danger of being undone, as impending cyclical cost inflation could raise break-even costs once again.

The Edge

Why the transition needs smart upstream taxes

03 April 2024

How to develop a low-carbon energy system and maximise revenue from a mature oil and gas province? Many countries face the challenge the UK is trying to deal with today. Its two main political parties have upped the ante on tax rates ahead of an election - and run the risk of stifling investment. How much investment is threatened? Is there a fiscal system that works for both upstream and low carbon? Can other countries learn from the UK?

The Edge

Low oil price could squeeze out 4 million b/d of non-OPEC supply

19 April 2020

The OPEC+ ‘deal of the century’ last weekend changes oil market dynamics in the short run. Find out more in this week's Edge.

Featured

Upstream oil and gas: top trends and wildcards to watch in 2022

13 December 2021

The oil and gas sector bounceback is set to continue – but the positive outlook is tempered by concerns about its future in a decarbonising world. Find out how global trends could play out in your region in our 2022 Outlook series.

The Edge

Future energy – carbon capture and storage

03 March 2020

Carbon capture and storage (CCS) is central to decarbonisation strategies. How does it work? What are the hurdles to commerciality? How much capacity do we need? Find out more in this week's Edge.

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Search results: 1383

How to value upstream oil and gas assets

The Norwegian emissions dilemma

The US energy transition rides on the electric F-150

Upstream investment in Africa: what does the future hold as new investment hotspots replace legacy producers?

Downstream consistency holds lessons for upstream

US$210bn of new spend in firing line as players target cost cuts

Four themes to watch as the Majors position for a new era

OPEC+ prepares for market uncertainty with continued 2 million b/d production cut

2021 – cheerful or fearful?

Upstream needs to learn from Downstream

Permian operators cash in ... by thinking inside the box

A Biden administration: implications for the energy industry

Global upstream M&A picks up the pace

OPEC agrees 1.5m b/d output cut as coronavirus eats into global demand

Wood Mackenzie 2022 Research Excellence Awards

US tight oil and the global oil market

OPEC+ strikes a deal to avoid oil glut

OPEC+ surprises market as it extends output curbs

OPEC’s battle for control of the oil market

Can upstream cost savings stick?

How the price war is hurting US tight oil

Renewable energy could reduce Asia Pacific LNG plant emissions by 8%

Wood Mackenzie 2020 Research Excellence Awards

Biden, China and politics of energy

Big Oil’s separate paths to decarbonisation

Is deepwater ready for cost inflation?

Why the transition needs smart upstream taxes

Low oil price could squeeze out 4 million b/d of non-OPEC supply

Upstream oil and gas: top trends and wildcards to watch in 2022

Future energy – carbon capture and storage

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