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Devon seals WPX merger
- 28 九月 2020
Speaking after the merger of Devon Energy and WPX Energy was announced this morning, Alex Beeker, principal analyst, corporate upstream, at Wood Mackenzie, said: “Tight oil consolidation has been underway for years, but extreme market volatility has slowed the process considerably. WTI has essentially hovered around US$40/bbl since June, with the stability likely closing the bid-ask spread. “We’ve expected Devon to make a move for some time. With US$1.5 billion in cash on its balance sheet (albeit earmarked for debt reduction), Devon is on a relatively strong financial footing. But Devon has been shrinking fast since its disposal program started in earnest about two years ago. The company’s net production is down 40% since 2018.”
News Release
Indonesia’s straddle between gross split and cost recovery is positive step forward
- 17 九月 2020
Introducing a choice between gross split and cost recovery for new licences is a positive step forward for Indonesia's upstream sector, says Wood Mackenzie.
Comment
BP underscores commitment to energy transition
- 04 八月 2020
Today’s BP strategy update marked a big step forward, filling in many of the blanks, including detailed guidance to 2030. It leaves stakeholders with a much clearer idea of where BP is headed over the next decade, how it will to get there and what that means for the value proposition.
News Release
India’s new deepwater supply could face pressure from low spot LNG prices
- 21 七月 2020
India’s new deepwater gas production could be under pressure from low spot LNG prices, says Wood Mackenzie.
Comment
Chevron to sell stake in North West Shelf LNG
- 18 六月 2020
Chevron continuing to high-grade its portfolio and putting its 16.7% stake in the NWS up for sale makes a lot of sense.
Comment
Market set to tighten as OPEC+ agrees to extend 9.7 million b/d output cut
- 06 六月 2020
OPEC+ today (6 June 2020) agreed a one-month extension of the 9.7 million barrels per day (b/d) production cut. The extension will tighten the market further and could see Brent prices rise from the current $40/bbl toward $45-to-$50/bbl.
Comment
Can the North Sea survive the price rout?
- 23 三月 2020
The North Sea has weathered several storms in its 50-year existence. But the events of the past few weeks mean the sector is entering uncharted waters. The coronavirus pandemic and collapse in OPEC+ production restraint has seen Brent reach its lowest point since 2003.
News Release
Oil price rout may trigger major industry shake-up
- 10 三月 2020
As global markets reel in the wake of the oil price crash, Wood Mackenzie’ corporate analysis team believes the price collapse could be the trigger for a new phase of deep industry restructuring - one that rivals the changes seen in the late-1990s.
News Release
OPEC+ ‘no deal’ a blow to the market
- 06 三月 2020
The OPEC+ meeting broke up without a deal, what does it mean for the markets?
News Release
Seismic changes across upstream as industry grapples with energy transition
- 12 十一月 2019
The energy transition is undoubtedly impacting corporate upstream strategies in significant and disruptive ways. Coupled with the post-2014 downturn in oil prices, Wood Mackenzie sees seismic changes in the way the industry allocates capital across development, exploration and in particular M&A.
Comment
Red-letter day for Norway as Johan Sverdrup comes on stream
- 08 十月 2019
First oil from Johan Sverdrup – Norway’s sixth-largest discovery, with reserves of around 2.7 billion barrels – is a red-letter day for the partners and the Norwegian state. The decision to sanction the development was the country's largest final investment decision in more than 30 years.
News Release
Data consortiums signal the future of oil and gas
- 07 八月 2019
Wood Mackenzie believes that discovering new value requires going beyond isolated datasets. The solution lies in data consortiums – cooperative platforms where companies can safely share quality data.
Comment
Japan's INPEX signs deal with Indonesia on Masela block development
- 17 六月 2019
The HoA formalises the recent outline agreement between the Government of Indonesia and INPEX on the Masela development project.
Comment
Chevron exits bidding war for Anadarko
- 09 五月 2019
Chevron Corporation today announced that it would not offer a counterproposal to Occidental Petroleum's rival bid to acquire Anadarko Petroleum.
News Release
What would Australia's Labor win mean for the resources, energy and power sectors?
- 06 五月 2019
Australia's general election is around the corner and Labor looks set for victory. Labor has announced its commitment to reduce Australia’s carbon emissions by 45% between 2005 and 2030, and to reach net-zero pollution by 2050. It has also proposed changes to existing mechanisms to lower energy and gas prices.
Comment
ExxonMobil and QP land a giant with Glaucus
- 28 二月 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."
Comment
Medco Energi's potential takeover of UK-listed Ophir Energy
- 02 一月 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
Major LNG buyers' uncontracted demand to quadruple by 2030
- 13 十二月 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.
Comment
ExxonMobil and Guyana hit Jackpot with latest offshore discovery
- 01 九月 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
East Coast gas prices could rise 30 percent in five years
- 25 五月 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 五月 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.
Comment
US Gulf of Mexico Lease Sale 250
- 22 三月 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.
News Release
Will a shifting global market embrace US crude?
- 05 三月 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.
Comment
ExxonMobil (NYSE: XOM) Strikes Oil in Guyana with the Turbot-1 well
- 06 十月 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
BHP Shale Asset Divesture
- 20 九月 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."
News Release
Global upstream FIDs on track to double in 2017
- 17 七月 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
Return of Asian investment in US tight oil
- 08 五月 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
Revival of deepwater industry: best projects closing gap
- 30 三月 2017
The deepwater industry has emerged from the downturn leaner and more competitive with US tight oil
News Release
Australian operators need to collaborate to create super basins
- 16 五月 2023
Australia’s oil and gas industry needs to urgently fast-track the creation of energy “super basins” to provide a pathway to greater sustainability and cut emissions, according to Anne Forbes, Upstream Research Analyst at Wood Mackenzie.
News Release
A revitalised oil and gas sector can play a key role in Indonesia’s energy transition
- 27 七月 2023
Indonesia’s oil and gas sector must undergo a major overhaul in the way it operates if it is to realise the full potential of the country’s natural resources and support a successful energy transition, according to a new white paper by Wood Mackenzie, a global insight business for renewables, energy and natural resources.

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