The global upstream industry faces the loss of 5,000 experienced “petrotechnical professionals (PTP)” by 2014, according to a human resources (HR) benchmark study by Schlumberger Business Consulting (SBC).
Upstream
Articles from Upstream
Innovation Is Called a Push Me Pull You Effort
The next wave of upstream innovation is likely to combine the “push” of science and “pull” by the industry, and will be achieved by companies that hire the best people, according to a panel of industry representatives at CERAWeek 2011 in Houston last week.
CERAWeek: Innovation Is a Push Me Pull You Effort
The next wave of upstream innovation is likely to combine the “push” of science and “pull” by the industry, and will be achieved by companies that hire the best people, according to a panel of industry representatives at CERAWeek 2011 in Houston Tuesday.
Industry Brief
North American upstream companies affected by political upheaval in North Africa and the Middle East should be able to manage cash flow implications, Fitch Ratings said in a report. Higher crude price realizations, insurance recoveries and capital expenditure reductions should offset any cash flow issues, the report said. U.S.-based integrated companies with exposure are Chevron Corp., ConocoPhillips, ExxonMobil Corp. and Marathon Oil Corp. Independents include Anadarko Petroleum Corp., Apache Corp., Hess Corp., Occidental Petroleum Corp. and Pioneer Natural Resources Co. In addition, Canadian Natural Resources Ltd., Nexen Inc., Suncor Energy Inc. and Murphy Oil Corp. have operations in the region, Fitch said.
Penn Virginia Brings Marcellus Gathering System Online
Penn Virginia Resource Partners LP (PVR) has begun commercial operations on the first large-diameter gathering pipeline in the north-central Pennsylvania Marcellus fairway, the Radnor, PA, company said.
DCP Midstream Inks Eagle Ford Deal
DCP Midstream LLC has struck long-term agreements with Pioneer Natural Resources USA Inc., Reliance Eagleford Upstream Holding LP and Newpek LLC (combined known as Pioneer JV) to provide midstream services to handle liquids-rich production from the Eagle Ford Shale in South Texas.
Southwestern to Cut Spending, Sharpen Focus on Fayetteville Shale
Southwestern Energy Co. will devote $1.9 billion to its capital investment program in 2011, down 10% compared with $2.1 billion in 2010, with most of it continuing to be spent on operations in the Fayetteville Shale where the Houston-based producer expects to see a significant increase in production.
Enterprise to Supply Houston With Eagle Ford Crude
Enterprise Products Partners LP said it plans to construct a crude oil storage facility and associated pipelines to provide refiners in the Houston area with access to growing production from the Eagle Ford Shale in South Texas.
Transportation Notes
After lifting the rest of an OFO Action Alert for its six furthest upstream zones Tuesday, Tennessee said a new one with systemwide impact would be implemented Sunday. It cited limited operational flexibility, mild weather and upcoming Hebron/Ellisburg storage field tests as reasons for the OFO, which requires affected shippers to not exceed a tolerance of 2% of scheduled quantities or 500 Dth, whichever is greater, for overdeliveries into the system and undertakes from the system.
Apache Completes Purchase of BP Assets
An Apache Corp. unit has completed its acquisition of substantially all of BP plc’s upstream natural gas business in western Alberta and British Columbia, the company said Tuesday. It marks the second closing of Apache’s three-part acquisition of BP assets.