WorldOil Regional Report: Southeast Asia/Australia With EandP on the mend, major breakthroughs are underway ShaleTech: Marcellus/Utica Shales Record laterals help feed new pipelines, plants Geo-engineered completions improve recovery in unconventionals North American unconventional well completion designs have evolved dramatically in the last four years. Longer laterals and increased proppant loading have resulted in higher IPs and EURs. New geo-engineered completion designs are delivering superior production results compared to high-intensity PNP. Better days ahead, as industry sits on brink of recovery U.S. operators are forecast to increase upstream activity, as oil and gas production rises with crude prices. U.S. oil, gas reserves see modest decline According to EY’s U.S. Oil and Gas Reserves Study, U.S. oil reserves saw another decline in 2016. People in the Industry API President and CEO Jack Gerard has announced that he will step down in August, when his contract ends. Companies in the News Kreuz Subsea has secured a contract supporting Larsen and Toubro (LandT) and Oil and Natural Gas Corp. (ONGC) in India. World of Oil and Gas Total (40%) and Chevron (operator, 60%) have announced a major discovery at the Ballymore prospect, in the U.S. Gulf of Mexico. Industry at a Glance U.S. crude production surged to its highest level in 47 years, when output reached 10.038 MMbpd in November (EIA). The Last Barrel The art of the oil deal What's New in Production All over the map Offshore in Depth Alaska seeks limits on offshore leasing Energy Issues A plethora of Issues A synchronized uplift in capital deployment With the recovery definitely underway, Evercore ISI predicts global EandP spending to rise 7% in 2018 following a 4% increase in 2017 and a 33% decline in 2016. EMGC to focus on region’s growth, maturation Situated in the Eastern Mediterranean Sea, just south of Turkey, the island nation of Cyprus will once again host the Eastern Mediterranean Gas Conference (EMGC), now in its fifth year. Canada looks to recover amid mixed signals With most economic indicators aligned, the Canadian industry is poised to rebound from its worst slump in 30 years. But political uncertainty is still the wildcard, as the impact of implementing climate change policies remains unknown. Healthy boost in activity projected for international drilling communities Outside of the U.S., a global recovery is on the horizon for the upstream oil and gas industry. U.S. output builds on OPEC cutbacks, gas rides LNG expansion Shale operators are increasing U.S. crude production in response to oil prices that are, so far, trending more favorably this year, due largely to decisions by OPEC and Russia to curb production. Executive Viewpoint Reducing coating maintenance costs and headaches on new offshore platforms U.S. shale drives rig count recovery in 2017 With oil prices on the rise in 2017, operators added drilling rigs back to many areas of the U.S. Innovative thinkers Rod Uchytil: Leaving an international impact Number of active U.S. oil wells remains consistent The number of active, producing oil wells in the U.S. remained relatively stable, dropping slightly last year, despite a significant increase in drilling from 2016 into 2017. Producing gas well total declines slightly The number of active, producing U.S. gas wells slipped 1.6% last year, from 501,535 to 493,421, although, according to the EIA, the country’s gross gas withdrawals hit an 11-year high at 95.8 Bcfd last November. A landmark year for the oil and gas industry The last 12 months in Washington, D.C., have been incredibly positive for the U.S. oil and gas industry. New Products and Services National Oilwell Varco (NOV) has introduced the iSeries NXT platform to its portfolio of Tolteq MWD/LWD directional systems and tools. What's New in Exploration Successful exploration is the art of managing failure Turbodrills reduce well time and deliver lower cost per foot in hard and abrasive formations Downhole turbines are a solution in hard and abrasive formations, otherwise inaccessible with conventional motors. First Oil Keeping the caution in our optimism Drilling Advances Hard rock paradigm shift Oil and Gas in the Capitals The changing energy landscape of the Middle East