News | Westwood Insight
13th June 2017 Westwood Insight: Decommissioning – Will Yards Become A Bottleneck? The key to governing a late life oil province like the North Sea is getting the balance right between initiatives to maximise recovery in late life assets with the practicalities of planning for decommissioning. Fail on the first and oil is left in the…read more
Westwood Insight: UK exploration drilling in 2017 – a bumper year in prospect or are explorers being too optimistic?
30th May 2017 Westwood Insight: UK exploration drilling in 2017 – a bumper year in prospect or are explorers being too optimistic? Six of the offshore exploration wells that are set to drill in the UK in 2017 have an average pre-drill prospect volume of over 100 million barrels of oil equivalent (mmboe). Does this signal…read more
22nd May 2017 Westwood Insight: Land Drilling Leading the Recovery The global land drilling rig market has been through a tough downturn characterised by an inward focus through the supply chain on survival. This has had a considerable impact on the supply chain with a number of mergers, acquisitions and bankruptcies, in addition to aggressive…read more
15th May 2017 Westwood Insight: Exploration Turns the Corner in 2017 If the industry is out of the emergency room in 2017, it is not yet out of hospital. Even if oil prices recover further, explorers will need to focus on finding low cost oil and gas profitable to develop at $40 per barrel or…read more
The oilfield service industry can, at times, be intimidating in its complexity and depth. Furthermore, mega-mergers (e.g. GE – Baker, Technip – FMC, Wood Group – Amec Foster Wheeler) have created a supply chain that no-longer has homogenous competition that can be easily-grouped and segmented. All the leading players in OFS now have a materially…read more
Many oilfield service and supply companies, including Halliburton (NYSE: HAL), Hi-Crush (NYSE: HCLP), U.S. Silica (NYSE: SLCA), and Fairmount Santrol (NYSE:FMSA) have cited a shortage of frac sand for the U.S. shale plays, specifically 40/70 frac sand in the Permian Basin. Advancements in the horizontal drilling and completion techniques of leading shale E&Ps are driving…read more
DW Monday: Will smaller hedged U.S. E&Ps feel the squeeze as service companies warn of higher costs?
Last month, Dave Lesar of Halliburton noted that the domestic market is short of fracture (frack) sand, equipment and experienced personnel. The No. 1 North American pressure pumper is adding 2,000 people to the payroll and putting idled equipment back to work at a frenetic pace. While the company continues to place an emphasis on…read more
“I have no special talents. I am only passionately curious.” Albert Einstein We live in an age where information at your fingertips is expected, important and integral to the validation of rational business decisions. Yet the success of any organisation in the future will be directly related to its ability to manipulate data and information…read more
Thank you to the 200+ people who took part in our recent DW Monday survey. A great response with positive responses and some great ideas. So what did you all say? To start our timing of delivery seems to suit almost 90% of you, so you can continue to expect to see the Westwood Insights…read more
The production of LNG in recent years has increased dramatically. According to Westwood Global Energy data, LNG liquefaction capacity increased from 121 million tons per annum (mmtpa) in 2000 to nearly 270 mmtpa in 2010, and will reach just over 400 mmtpa by the end of 2017. A wave of ‘mega-projects’, each costing tens of…read more