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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
Conventional pre-FID breakevens give the Lower 48 a run for its money
- 14 March 2018
Analysis of global oil cost curves indicates that many conventional pre-FID projects – even deepwater developments - are now competitive on a breakeven basis with US Lower 48 tight oil. However, this competitiveness has come at the expense of volumes. The trade-off of cost efficiency versus volumes means that in the medium- to long-term, the cost of supply is set to increase, highlighting the US Lower 48’s role as an important marginal barrel producer.
News Release
Will a shifting global market embrace US crude?
- 05 March 2018
A new study by Wood Mackenzie, examines this shift in the oil market, and assesses the challenges and opportunities facing the market and US producers and midstream operators.
News Release
Offshore decommissioning in Asia Pacific could cost US$100 billion
- 01 February 2018
According to Wood Mackenzie's latest analysis, decommissioning Asia Pacific's offshore assets – nearly 2,600 platforms and 35,000 wells – could cost over US$100 billion.
News Release
Latin America to buck global exploration trend in 2018
- 22 January 2018
Driven by an impressive array of licensing and farm-in opportunities, plus an upsurge in exploration activity, Latin America’s upstream sector is poised for a banner year in 2018, according to a new insight by Wood Mackenzie, Latin America Upstream: What to look for in 2018.
News Release
Deepwater Gulf of Mexico stages a comeback in 2018
- 05 January 2018
The U.S. deepwater Gulf of Mexico sector has struggled since crude dropped in late 2014. However, as costs finally settle at a bottom and operators set a new standard for operational efficiency, 2018 might just be a turning point for the sector.
News Release
Producers double down on hedging in Q3 2017
- 29 November 2017
Hedging activity surged in Q3 2017 as oil producers rushed to lock in rising prices for future production, according to Wood Mackenzie's latest analysis of oil and gas hedging activity.
Comment
ExxonMobil (NYSE: XOM) Strikes Oil in Guyana with the Turbot-1 well
- 06 October 2017
Following ExxonMobil's (NYSE: XOM) announcement this morning of its fifth new oil discovery after drilling the Turbot-1 well offshore Guyana, Pablo Medina, Wood Mackenzie's senior analyst, Latin America Upstream has the following comments.
Comment
Brazil and ExxonMobil win big at oilfield auction
- 05 October 2017
Following Brazil's record oil field auction yesterday, where ExxonMobil (NYSE: XOM) vastly expanded its presence in the country with winning stakes in ten blocks, including eight deepwater blocks in the Campos basin, Horacio Cuenca, Research Director, Upstream Latin America at Wood Mackenzie offers the following commentary.
Comment
Mexico's Energy Reform pays off with Zama
- 26 September 2017
Following the announcement this morning that Talos energy and its partners Premier Oil and Sierra Oil & Gas have made a discovery at Zama-1, drilled in Block 7 offshore Mexico, please find below initial comment from Pablo Medina, Wood Mackenzie's senior analyst, Latin America Upstream.
News Release
Geology vs. technology: How sustainable is Permian tight oil growth?
- 20 September 2017
Technology has played a huge role in the rapid rise of production in the Permian. Operators are bullish on the region's long-term potential and poised to exploit the Permian at an unparalleled pace over the next few years. However, according to a report by Wood Mackenzie, Geology vs. technology: how sustainable is Permian tight oil growth?, geological constraints that may arise as the play is aggressively developed could lead to production shortfalls, and in turn, higher prices early next decade.
Comment
BHP Shale Asset Divesture
- 20 September 2017
Commenting on BHP Billiton's plans to divest its U.S shale unit, Jon Weintraub, research analyst at Wood Mackenzie, said: "BHP's announced divesture of its onshore U.S. business is a pretty momentous step-change in its corporate strategy and marks the culmination of its push to be a major shale player. We expect to see all options being considered with a substantial amount of interest from multiple pools of buyers."
Comment
Cambodia's first oil development takes major step forward with signed agreement with KrisEnergy
- 07 September 2017
Singapore –listed E&P company KrisEnergy today signed fiscal and technical agreements with the Royal Government of Cambodia for the Block A Apsara oil development.
News Release
Global upstream FIDs on track to double in 2017
- 17 July 2017
In the first half of the year, the industry has already witnessed 15 project sanctions, almost comparable to project sanctions in the whole of 2016.
News Release
Upstream players grapple with uncertainty
- 15 May 2017
To gauge the state of the sector, Wood Mackenzie asked its client base to share their thoughts on a number of key themes, and the responses were analysed to give a comprehensive view of how the sector’s key players view the future.
News Release
Return of Asian investment in US tight oil
- 08 May 2017
If Asia's largest upstream players want to grow production, Wood Mackenzie expects them to diversify into the US tight oil market.
News Release
Production from Argentina's Vaca Muerta to reach 113 kboed by 2018
- 04 May 2017
The seven most advanced developments are expected to see production increases of 43% in 2017.
News Release
Revival of deepwater industry: best projects closing gap
- 30 March 2017
The deepwater industry has emerged from the downturn leaner and more competitive with US tight oil
News Release
US$40 billion worth of opportunities in Asia-Pacific upstream M&A in 2017
- 18 January 2017
According to research by Wood Mackenzie, the APAC upstream sector holds considerable value as the majors divest mature and mid-life assets in the region.
News Release
New projects in the upstream oil and gas industry to double in 2017 predicts Wood Mackenzie
- 11 January 2017
Confidence will return to the sector in 2017, with exploration and production spend to rise by 3% to US$450 billion.
News Release
Half of traditional super basins are future-fit and they have three things in common
- 21 July 2022
Energy super basins of the future must fulfill three key criteria - abundant resources, access to low-cost renewables and hub-scale carbon capture and storage (CCS) opportunities, according to a new report by Wood Mackenzie.
News Release
Stability of Russian gas flows remain uncertain, despite the reopening of Nord Stream
- 21 July 2022
Gazprom confirmed today that regular annual maintenance of Nord Stream is officially over and gas flows restarted at 63 million cubic metres per day (mcm/d) – 40% of the pipeline’s overall capacity. The European gas market has reacted, with prices down by 5%; but the stability of Russian gas flows is by no means a given, according to analysts at Wood Mackenzie.
News Release
CCUS planned capacity nearing 1 billion tonnes per annum
- 26 August 2022
US Inflation Reduction Act bill set to boost CCUS uptake but more is needed to meet net zero goals by 2050
News Release
Few oil and gas companies commit to Scope 3 net zero emissions as significant challenges remain
- 28 October 2022
Scope 3 emissions account for 80-to-95% of total carbon emissions from oil and gas companies. But only a small number of these firms have set Scope 3 net zero ambitions, according to a recent report from Wood Mackenzie.
News Release
European gas storage plans for 2023 still stand despite cold snap
- 14 December 2022
Colder temperatures across Europe have increased month-on-month heating demand by 20% in December, but behavioural change in households and services means the amount of gas used in these sectors is 16% lower than previous average consumption patterns for similar temperatures says Wood Mackenzie, a Verisk business (Nasdaq:VRSK).
News Release
Bolivian gas production to decline faster than expected, exports to Brazil and Argentina to cease by 2030
- 18 January 2023
Bolivian gas production will decline more rapidly than expected, falling from 1,400 million cubic feet per day (mmcfd) in 2022 to as low as 400 mmcfd by 2030, according to a report from Wood Mackenzie, a Verisk business.

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