Activity Review ///

First oil

Kurt Abraham, World Oil

Another mixed outlook awaits the E&P sector

Eagle Ford/Austin Chalk Shales: High returns fail to stave off summer retreat

Jim Redden, Contributing Editor

The caliche roads cutting through the blackbrush and mesquite of the South Texas brush country are a bit less congested of late, as Eagle Ford drilling and completion activity dips in what is ranked among the most profitable of the unconventional plays.

Oil majors reluctant to place bets on aging North Sea, as output descends

Emily Querubin, World Oil

Since the 1960s, the North Sea has remained a highly sought-after region for oil and gas E&P.

Pemex under pressure with AMLO ruling Mexico’s economy

The surprise departure of Mexico’s finance minister has the state oil company’s watchers biting their nails.

Bombed oil tanker near Persian Gulf now shipping fuel to Iran

An oil tanker damaged in a bombing that was blamed on Iran is back in business. The ship’s first destination: Iran.

EIA: Fossil fuels continue to dominate U.S. energy consumption

Fossil fuels—petroleum, natural gas, and coal—have accounted for at least 80% of energy consumption in the United States for well over a century. Overall energy consumption in the United States reached a record high in 2018 at 101 quadrillion British thermal units (Btu), of which more than 81 quadrillion Btu were from fossil fuels.

Shale fight makes OPEC accept lowest market share since 1991

For almost three decades, OPEC has always pumped at least 30% of the world’s crude oil, creating an informal floor for Saudi Arabia and its allies in the cartel.

Why oil's outlook could be even bleaker than expected

As storm clouds gather over the world’s top oil-consuming region, OPEC and its allies would be advised to pay close attention as they prepare to make a key decision on output curbs early next month.

Putin to meet with Saudi Prince just days before OPEC+ gathers

Russian President Vladimir Putin plans to meet Saudi Crown Prince Mohammed Bin Salman at the Group of 20 summit in Japan this week, just days before OPEC and its allies gather in Austria to discuss extending oil-output cuts.

Creating the right jobs will ensure Vision 2035 succeeds

Interview with Deirdre Michie, Chief Executive, OGUK

SPE Offshore Europe-2019 conference chairman sees exciting future ahead for UKCS

Interview with OE 2019 Chairman Michael Borrell, Senior V.P., North Sea and Russia, Total

UKCS shows signs of upside potential

The business and operational improvements implemented during the downturn have positioned the UKCS as a much more attractive basin for E&P companies.

Oil drillers scale back U.S. activity as crude falls into bear market

U.S. crude explorers reduced drilling to a 15-month low as oil dipped into bear-market territory.

Regional report: Russia

Mike Slaton, Contributing Editor

Between rocks and hard places

Gazprom, Shell meet to review progress of Nord Stream 2, Sakhalin II projects

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Ben van Beurden, CEO of Royal Dutch Shell, took place today at the St. Petersburg International Economic Forum 2019.

Eni board of directors approves measures to begin buy-back program

The Eni board of directors, in execution of the authorization granted by the Eni shareholders’ meeting of May 14, 2019 and within the terms announced to the market on that date, has approved measures to begin the 2019 share buy-back program.

Permian drillers pull back amid U.S.-China trade spat

Crude explorers deployed fewer rigs in U.S. fields this week amid an escalating U.S.-China trade war that weighed on oil prices.

Exxon CEO seeking solution to climate change in a lab

For Darren Woods, Exxon Mobil Corp.’s CEO, the answer to climate change won’t be found in solar panels or high-profile global accords, but rather in a U.S. government laboratory.

Majors double down as takeaway crunch eases

Jim Redden, Contributing Editor

They may have arrived late to the shale soiree, but the super-majors have shown up with overflowing wallets, lofty production targets, and they’re setting the tone for the next wave of development in the transcendent Permian basin.

Economists see growth slowing amid geopolitical uncertainty

The Texas Alliance of Energy Producers Annual Meeting and Expo was held this week in Irving, Texas, just northwest of Dallas. During the opening panel session, the Texas vs. national economies were examined.