Costs

Continued efficiency improvements are expected to be critical for natural gas and oil producers in the Permian Basin this year as cost inflation for oilfield services (OFS) takes full effect.

The worst of the pandemic’s impacts on public health may have passed, but its long shadow still hangs over the economy and the energy industry in the form of supply chain bottlenecks, labor shortages and steep inflation. Setbacks such as manufacturing disruptions in Asia and congestion at U.S. ports infuse indefinite uncertainty, energy company executives…

The Covid-19 pandemic has inflicted increased construction costs and delay on Coastal GasLink, the conduit designed to supply the Royal Dutch Shell plc-led liquefied natural gas (LNG) export project underway in British Columbia (BC), according to TC Energy Corp. “We expect project costs will increase significantly and the schedule will be delayed,” TC management said…

Breakeven costs for all unsanctioned oil projects have fallen to around $50/bbl on average, down around 10% over the last two years and 35% since 2014.  With oil production less expensive to produce versus six years ago, the “clear cost savings winner” is offshore deepwater development, according to Rystad Energy’s latest assessment.  Rystad’s cost of…

Tellurian Inc. said this week it has cut costs for the first phase of the proposed 27.6 million metric ton/year (mmty) Driftwood liquefied natural gas (LNG) export terminal as it works toward sanctioning the massive project in a weak global market.   The Houston-based operator indicated in an investor presentation on Wednesday that it would achieve…

Tellurian Inc. said in a regulatory filing on Wednesday that it was evaluating options to cut the costs of the first phase of its proposed 27.6 million metric tons/year (mmty) Driftwood liquefied natural gas (LNG) terminal in Louisiana.  It was the latest announcement from the company as it works to get the project off the…

Complex procedures are causing pipeline and liquefied natural gas (LNG) project approvals to take more than one year longer in Canada than in the United States, inflating industry costs, according to a new economic comparison survey.

Complex procedures are causing pipeline and liquefied natural gas (LNG) project approvals to take more than one year longer in Canada than in the United States, inflating industry costs, according to a new economic comparison survey.

Global oil and natural gas investments are predicted to climb this year, as U.S. onshore unconventional development spending rises, the International Energy Agency (IEA) said Tuesday.