The outcome of a ballot initiative in Colorado that pits environmentalists against energy operators appears to be a razor-thin margin ahead of midterm elections Tuesday, and producers are literally hedging their bets, according to Rystad Energy.
Articles from Rystad
A healthy surge in finalizing offshore oil and natural gas projects is expected next year and likely will topple the onshore unconventional industry as the leader in spending, an analysis by Rystad Energy indicates.
In a world were unconventional production has become the market mover, natural gas production is making strides in the offshore, growing by almost 30% in the past decade to more than 1,000 bcm/year (35,314 Bcf), according to the International Energy Agency (IEA).
Halliburton Co., the largest pressure pumper in North America, last year built its estimable capacity and surpassed 4 million hp by adding roughly 700,000 hp to its fracturing toolbag, Rystad Energy said.
The Trump administration has floated a plan to open nearly every U.S. offshore area to oil and natural gas exploration, which could attract billions in investment and potentially unlock up to 65 billion boe, Rystad Energy said Friday.
This year has proved to be a lean one for unearthing new oil and natural gas resources, although North America gained from Mexico discoveries, according to research by Rystad Energy.
Operators already have pulled the trigger on more oil and natural gas projects worldwide to date this year than they did throughout 2016, according to an analysis by Rystad Energy.
U.S. onshore unconventional growth began to exhibit “material and persistent” monthly output growth in the first quarter after bottoming out in mid-2016, a trend likely to continue through 2017, according to an analysis by Rystad Energy.
Worldwide offshore oil and natural gas discoveries reached slightly below 2.3 billion boe last year, which was almost 90% lower than the resources uncovered in 2010, Rystad Energy said Wednesday.
The global oil and natural gas market today may be oversupplied, but as oilfield service (OFS) capacity is reduced, the lack of investment could turn the market upside down within a few years, according to research.