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Westwood Insight: TTH, an important step but is it a game changer?

Posted on November 27, 2017

27th November 2017 Westwood Insight: TTH, an important step but is it a game changer? In the recent Autumn Budget, the UK Chancellor announced the introduction of Transferrable Tax History (TTH) mechanism from November 2018, in an effort to narrow the value gap between sellers and buyers of late life assets in the UKCS. This policy…read more

Westwood Insight: Rig count doesn’t tell the whole story…

Posted on November 20, 2017

20th November 2017 Westwood Insight: Rig count doesn’t tell the whole story… It is time to look beyond just the rig count as a measure of activity and production growth in the US tight oil plays. Westwood Global Energy forecasts an 18% increase in active rigs in 2018 but more rapid demand growth in certain service…read more

Westwood Insight: Production Potential of the UKCS

Posted on November 13, 2017

13th November 2017 Westwood Insight: Production Potential of the UKCS UKCS oil and gas production peaked in 1999 at over 4.6 mmboe/d but declined to 1.4 mmboe/d by 2013. During this time, the Brent oil price increased from US$17.9/bbl to US$108.6/bbl which stimulated investment in the UKCS to record highs of over US$85 billion (2010 to…read more

Westwood Insight: Cost cutting slows – Mid-Cap E&P Operational and Financial Performance, 2014-2017 H1

Posted on November 6, 2017

6th November 2017 Westwood Insight: Cost cutting slows – Mid-Cap E&P Operational and Financial Performance, 2014-2017 H1 The analysis below is based on the income statements of 22 mid-cap international E&P companies between 2014 and 2017 H1. Key findings are as follows: Unit costs were reduced in 2017 H1, but the pace of unit cost cutting…read more

Westwood Insight: Offshore Wind – The Price is Right

Posted on September 21, 2017

21st September 2017 Westwood Insight: Offshore Wind – The Price is Right The ongoing reduction in the cost of generating renewable energy continues to make the headlines. Offshore wind has relied on subsidies to be viable in the past and, for the overwhelming majority of projects, this remains the case. In the UK, the support mechanism…read more

Westwood Insight: Land Rigs in Focus

Posted on August 17, 2017

17th August 2017 Westwood Insight: Land Rigs in Focus Land rigs – a fragmented, undisciplined, commoditised market? Why would rig contractors and E&P companies buy land rigs when oil prices are at recent historic lows, E&P firms are reigning-in Capex and there is seemingly an awful lot of idle rigs and equipment stacked in yards (or…read more

Westwood Insight: Will New LNG Trade Routes Support Demand for LNG Carriers?

Posted on August 7, 2017

7th July 2017 Westwood Insight: Will New LNG Trade Routes Support Demand for LNG Carriers? The Liquified Natural Gas (LNG) carrier market has been highly cyclical and is often driven by global macroeconomic events. The growth of LNG carriers over the past decade has been synonymous with the growth in global LNG import and export capacity….read more

Westwood Insight Special: Offshore – A Lost Cycle?

Posted on August 3, 2017

3rd August 2017 Westwood Insight Special: Offshore – A Lost Cycle? During the last sector boom leading up to 2014, the industry invested heavily in new equipment and infrastructure to support a level of activity that has yet to return. This has had and continues to have brutal implications for asset-heavy businesses, but particularly offshore, where…read more

Westwoood Insight: US Land Rig Growth Stalls as DUCs Head North

Posted on July 31, 2017

31st July 2017 Westwood Insight: US Land Rig Growth Stalls as DUCs Head North Publicly traded E&Ps and service companies are entering a Q2 earnings season anticipating a slowdown across the unconventional plays. In Halliburton’s (NYSE: HAL) second quarter earnings call Dave Lesar said, ”rig count growth is showing signs of plateauing and customers are tapping…read more

Westwoood Insight: Will Trump’s presidency dampen US offshore wind prospects?

Posted on July 17, 2017

17th July 2017 Westwood Insight: Will Trump’s presidency dampen US offshore wind prospects? In 2015, the Department of Energy’s Wind Vision Report projected that the US offshore wind industry could support investment to reach a cumulative capacity of 3 GW by 2020, 22 GW by 2030 and 86 GW by 2050. These targets do look wildly…read more

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