Forecast ///

Canada continues its fight for recovery during arduous times

Robert Curran, Contributing Editor

Amid increasing political uncertainty and a stagnant unemployment rate, Canadian operators are still fighting to regain E&P stability and drive pipeline projects forward.

Energy Issues

William J. Pike, World Oil

Producers have recently reacted to stagnant oil prices with announcements of cuts in capital spending.

Oil and Gas in the Capitals

Jeff Moore, Contributing Editor

Energy companies around the world are adjusting their E&P strategies to take advantage of oil rebounding from the price slump of 2015–2016. For some, this means getting into natural gas to rebalance global portfolios that have been heavy with liquids.

Oil and gas in the capitals

Jacques Sapir, Contributing Editor

Is the Russian ruble more weakly linked to oil than before?

What's new in production

Don Francis, Contributing Editor

Go with the flow

Key nations keep pumping despite oil price decline

Staff, World Oil

Clinging to the notion that they are protecting market share, several OPEC members continue to overproduce deliberately, as do Russian operators, ensuring that the global market remains saturated.

U.S. oil reserves continue to climb for sixth consecutive year

Emily Querubin, World Oil

According to the U.S. Energy Information Administration (EIA), U.S. crude oil and lease condensate proved reserves increased for the sixth consecutive year in 2014.

Producing gas wells hold up amid commodities rout

Roger Jordan, World Oil

The number of producing gas wells in the U.S. held steady last year, despite gas prices remaining stubbornly low.

Producing oil wells tick down as price begins to hit

Roger Jordan, World Oil

The total number of active, producing oil wells in the U.S. dropped slightly during 2015, a trend that looks set to sharpen this year, as the oil price decline begins to exact its toll on the industry.

As budgets collapse, U.S. drilling may shrink to a 17-year low

Kurt Abraham, World Oil

Who knew? After the rapid decline in crude oil prices from mid-2014, most analysts expected 2015 to be a year of recovery, when prices would creep back toward $70/bbl.

Rig counts brace for a second round of declines

Craig Fleming, World Oil

The catastrophic oil price decline wreaked havoc on the U.S. rotary rig count during 2015, with the industry bracing for a continued slowdown this year.

Sliding oil price necessitates more cuts and pain

James West, Samantha Hoh, Alexander Nuta, Cameron Schnier, Evercore ISI

Looking at the spending plans of roughly 300 E&P companies worldwide, and factoring in recent oil price declines, North American spending may fall 40-50% in 2016. Capital expenditures, internationally, are set to post a second, consecutive 15% decline.

Executive viewpoint

John England, Deloitte LLP

Looking back at 2015: What happened, what didn’t, and hope for the future

Oil and gas in the capitals

Dr. Anas Alhajji, Contributing Editor

Making the case for a Saudi oil production cut

What industry leaders expect for 2016

Kurt Abraham, World Oil

Not since 1986 has the global upstream industry seen such a 12-month period of oil price erosion, punctuated by rapid-fire reductions in operator, vendor and contractor activity.

Drilling falters while production and reserves register further increases

Kurt Abraham, World Oil

Low oil prices are constricting drilling activity worldwide with a couple of exceptions. Meanwhile, production and reserve levels have gained, spurred by last year’s stout drilling effort.

Mexico places hopes in reform to boost oil and gas production

Mauro Nogarin, Contributing Editor

Less than a year after the enactment of Mexico’s new energy reform law, which was promulgated in June 2014, the Director General of national oil company Pemex, Emilio Lozaya, announced significant new oil and gas discoveries in the country.

Canadian E&P striving for economic recovery

Robert Curran, Contributing Editor

In response to the prolonged oil slump, operators have slashed spending, postponed large-scale projects and laid off staff. Canada’s industry associations have downgraded their 2015 forecasts, as well.

Operators take shelter from the oil price storm

Kurt Abraham, World Oil

Although this year’s major upstream downturn is inflicting considerable pain on producers and equipment/service companies, alike, it also is stimulating additional technical creativity and progress across all disciplines of the North American industry.

What industry leaders expect for 2015

Kurt Abraham, World Oil

The year 2014 has been a period of not only great profitability for the global upstream industry but also a time of considerable volatility.