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UK Upstream 2016 in review: The good, the bad and the ugly

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09 January 2017

UK Upstream 2016 in review: The good, the bad and the ugly

Report summary

2016 was a year of depressed activity in the UKCS, but the tide began to turn towards the end of the year. Unsurprisingly, investment was down for the second year in a row as the oil price continued to bite. For many companies it was a case of fighting for survival, and it was a close call in some cases. This meant exploration was an afterthought for many. But, there were some positives amid the doom and gloom. Production continued to grow with a couple of key fields starting production. Big operating costs reductions were realised across the basin — key to prolonging the life of mature fields. M&A activity picked up in the second half of the year, with private equity leading the way. We also saw sweeping cuts to the marginal tax rate, making the fiscal regime fit for the maturity of the basin.

Table of contents

Tables and charts

This report includes 16 images and tables including:

  • UK Upstream 2016 in review: The good, the bad and the ugly: Image 1
  • 2016 Top 10 fields by decommissioning spend
  • 2012-2016 drilling vs well P&A
  • UK Upstream 2016 in review: The good, the bad and the ugly: Table 1
  • 2009-2016 Liquids production
  • 2009-2016 Gas production
  • Capital expenditure by year
  • Capital expenditure by sector for 2016
  • 2016 Top 10 projects by capex
  • 2016 Top 10 companies by capex
  • UK Upstream 2016 in review: The good, the bad and the ugly: Table 2
  • 2016 onstream fields
  • Well completions and volumes discovered
  • 2016 vs 2014 well trends
  • 2016 discoveries
  • UK Upstream 2016 in review: The good, the bad and the ugly: Table 5

What's included

This report contains:

  • Document

    UK Upstream 2016 in review: The good, the bad and the ugly

    PDF 388.56 KB

  • Document

    UK 2016 Upstream in review.xls

    XLS 265.00 KB

  • Document

    UK Upstream 2016 in review: The good, the bad and the ugly

    ZIP 471.02 KB

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