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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

Brazil’s PSC Round 6 disappoints as Petrobras lodges sole bid

07 十一月 2019

Speaking after this morning’s PSC round, Juliana Miguez, from Wood Mackenzie’s Latin America upstream team, said: “Petrobras has returned to the headlines. One day after it dominated the Transfer of Rights Surplus round, the NOC placed the only bid of today’s auction."

Comment

Majors cautious as Petrobras takes prize in Brazil’s TOR round

06 十一月 2019

Brazil’s largest-ever auction of oil licences – the Transfer of Rights round – saw state-controlled Petrobras walk away with the biggest prizes, the Búzios and Itapu blocks.

Comment

Total expands partnership with Adani on India's gas market

14 十月 2019

Total announced today its partnership with Adani Group which includes two LNG terminals, Dhamra in East India and potentially Mundra in the West, as well as Adani Gas Limited, one of the 4 main distributors of city gas in India of which Adani holds 74.8% and of which Total will acquire 37.4%.

Comment

Santos to acquire ConocoPhillips northern Australian assets

14 十月 2019

Santos announced today its plans to acquire ConocoPhillips’s northern Australian portfolio. This is a logical and attractive transaction for a number of reasons.

Comment

Brazil licensing round sets record as Majors eye November's prizes

10 十月 2019

Brazil's Licensing Round 16 set a record – the BRL 8.9 billion (US$2.2 billion) in signature bonuses is the highest yet for a Brazilian round. Of the 36 blocks on offer, 12 were awarded, all in the prolific offshore Campos and Santos basins. Malaysia’s Petronas, Qatar’s QPI, Spanish producer Repsol and the US’ Chevron all bid high. QPI and Petronas were the biggest spenders of the day, as well as Petrobras. Only Campos and Santos basin blocks were awarded, with frontier acreage failing to attract interest.

News Release

Wood Mackenzie’s new data technology transforms upstream valuations

09 十月 2019

Natural resources research and consultancy Wood Mackenzie launches the world’s first Global Upstream Valuation solution, enabling organisations from the largest oil and gas companies to global banks to value assets around the globe in seconds.

News Release

China’s pipeline reform: expect higher gas prices in the short-term

09 十月 2019

New research from Wood Mackenzie indicates that the creation of a national pipeline company in China is a step in the right direction but will result in higher end-user prices in the short-term as the country tries to balance institutional reform with implementation risks.

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

What are ExxonMobil’s top 5 divestment targets in Asia Pacific?

07 十月 2019

Wood Mackenzie has identified the five most likely disposal candidates after ExxonMobil signalled the start of its Asia Pacific divestment programme. Together, these opportunities are worth US$5 billion, and could contribute a third of the Supermajor's global divestment target.

Comment

ExxonMobil farewells Norway with US$4.5bn Vår Energi deal

27 九月 2019

ExxonMobil is selling its Norwegian business to Eni/HitecVision-owned Vår Energi for US$4.5 billion, Norway’s biggest deal since the Statoil-Norsk Hydro merger in 2006.

Comment

Japan to invest additional $10 billion in global LNG infrastructure projects

26 九月 2019

Japan is planning to invest an additional $10 billion to develop infrastructure mainly in new and developing markets in the India sub continent and Southeast Asia, reflecting a shift in priorities.

News Release

Coal is still king in Southeast Asia’s power market

25 九月 2019

According to a new report by Wood Mackenzie, coal will continue to be the dominant fuel source in power generation, peaking at 2027 before slowing down and accounting for 36% of the region’s generation mix in 2040.

Comment

ExxonMobil to sell upstream assets in Gippsland Basin

18 九月 2019

ExxonMobil putting its entire Gippsland Basin upstream portfolio up for sale represents big news for the Australian upstream and gas market.

Comment

Attack on Saudi Arabia's oil facilities

16 九月 2019

This attack has material implications for the oil market, as a loss of 5 million barrels per day of supplies from Saudi Arabia cannot be met for long by existing inventories and the limited spare capacity of the other OPEC+ group members. A geopolitical risk premium will return to the oil price.

News Release

Has M&A created value in the North Sea?

04 九月 2019

Since the turn of the decade, it’s been a frenetic period for M&A in the North Sea. Against a backdrop of oil price volatility and a dramatically changing corporate landscape, activity reached record levels. But have acquisitions created value so far? Wood Mackenzie recently analysed 55 of the largest North Sea deals announced between 2012 and 2018 from today’s vantage point to quantify underlying value creation.

News Release

China’s gas production to double to 325 bcm in 2040

28 八月 2019

Though set to become the world’s third largest gas producer by 2027, China’s imports will still grow in the long term. One key contributing factor is lower forecast in domestic gas production particularly in shale gas and coal bed methane (CBM), according to recent research by Wood Mackenzie.

Comment

BP sells Alaska business to Hilcorp in US$5.6bn deal

27 八月 2019

Speaking after BP announced the sale of its Alaska business to Hilcorp in a US$5.6 billion deal, Wood Mackenzie analyst Rowena Gunn said: “The Majors are making progress with their divestment campaigns. This will mean long-held assets and territories will be let go. BP made such a deal today with its sale of all US Alaska assets to privately-owned Hilcorp."

Comment

TechnipFMC demerger 'a bold step to reposition for the long-term'

27 八月 2019

In 2017 Technip and FMC Technologies completed one of the hallmark oilfield service company mergers of the cycle. The business plans to split in the first half of 2020 – but not back into Technip and FMC - rather into ‘upstream’ and ‘mid/downstream’.

News Release

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

21 八月 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.

Comment

Lift off as Sputnik partners hit oil

20 八月 2019

Commenting on Equinor, OMV and Petoro’s Sputnik discovery, Jamie Thompson, an analyst with Wood Mackenzie’s North Sea upstream team, said: “Despite being small and remote – it lies more than 300 kilometres from shore in the northern Hoop area of the Barents Sea - Sputnik has a high chance of commerciality. The aptly-named field could be a satellite of the pre-FID 440 million-barrel Wisting development, which is just 30 kilometres from Sputnik.

Comment

ExxonMobil poised to sell ‘attractive’ UK North Sea portfolio

13 八月 2019

Commenting on reports that ExxonMobil is preparing to sell its UK North Sea portfolio, Neivan Boroujerdi, principal analyst, North Sea upstream, at Wood Mackenzie, said: “A proposed UK exit was expected. We value the portfolio at around US$2 billion.

Comment

Jethro-1 delivers the goods for Tullow

13 八月 2019

The Jethro-1 well, drilled in the Orinduik block, offshore Guyana, has delivered for Tullow Oil, with chief executive Paul McDade saying the prospect could hold more than 100 million barrels of recoverable oil, subject to appraisal.

News Release

Murphy Oil reaches FID in Gulf of Mexico deepwater

08 八月 2019

Murphy Oil has reached a Final Investment Decision (FID) regarding the King's Quay facility, Khaleesi/Mormont and Samurai developments in deepwater Gulf of Mexico. Commenting, Mfon Usoro, Wood Mackenzie analyst said: “Murphy’s sanction of the trio of projects including the King’s Quay facility, K...

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.

News Release

Brazil gas market reform unlocks investment across value chain

06 八月 2019

Brazil’s natural gas market reforms have taken a major step forward, with plans in place which are set to open up opportunities across the gas value chain, and boost investment in the country’s pre-salt.

News Release

Permian midstream bottlenecks may choke output

24 七月 2019

Rapidly rising production in the Permian basin has led to soaring levels of associated gas, outpacing pipeline infrastructure and placing increasing slowdown pressure on other production streams like crude oil and natural gas liquids (NGLs), Dr Eugene Kim, Research Director, Americas Gas, told delegates at the Unconventional Resources Technology Conference (URTeC) in Denver.

News Release

Produced water poses growing risk to Permian production growth

24 七月 2019

Rising produced water volumes and expanding costs pose a significant risk to production growth in the Permian basin, Ryan Duman, Senior Analyst, Lower 48, told delegates at the Unconventional Resources Technology Conference (URTeC) in Denver.

News Release

Japan to lose top LNG importer position to China by 2022

23 七月 2019

According to a new report by Wood Mackenzie, Japan could lose its pole position as the world’s top LNG importer to China as early as 2022.

News Release

Faster decline rates prompt Permian players to eye spending boost

22 七月 2019

Accelerating tight oil decline rates top a growing list of concerns for Permian basin operators, with unexpected production shortfalls prompting producers to consider stepping up drilling investment and M&A activity, Robert Clarke, Research Director, Lower 48 Upstream, told delegates at the Unconventional Resources Technology Conference (URTeC) in Denver.

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Search results: 335

Seismic changes across upstream as industry grapples with energy transition

Brazil’s PSC Round 6 disappoints as Petrobras lodges sole bid

Majors cautious as Petrobras takes prize in Brazil’s TOR round

Total expands partnership with Adani on India's gas market

Santos to acquire ConocoPhillips northern Australian assets

Brazil licensing round sets record as Majors eye November's prizes

Wood Mackenzie’s new data technology transforms upstream valuations

China’s pipeline reform: expect higher gas prices in the short-term

Red-letter day for Norway as Johan Sverdrup comes on stream

What are ExxonMobil’s top 5 divestment targets in Asia Pacific?

ExxonMobil farewells Norway with US$4.5bn Vår Energi deal

Japan to invest additional $10 billion in global LNG infrastructure projects

Coal is still king in Southeast Asia’s power market

ExxonMobil to sell upstream assets in Gippsland Basin

Attack on Saudi Arabia's oil facilities

Has M&A created value in the North Sea?

China’s gas production to double to 325 bcm in 2040

BP sells Alaska business to Hilcorp in US$5.6bn deal

TechnipFMC demerger 'a bold step to reposition for the long-term'

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

Lift off as Sputnik partners hit oil

ExxonMobil poised to sell ‘attractive’ UK North Sea portfolio

Jethro-1 delivers the goods for Tullow

Murphy Oil reaches FID in Gulf of Mexico deepwater

Data consortiums signal the future of oil and gas

Brazil gas market reform unlocks investment across value chain

Permian midstream bottlenecks may choke output

Produced water poses growing risk to Permian production growth

Japan to lose top LNG importer position to China by 2022

Faster decline rates prompt Permian players to eye spending boost