By Keith Myers, president, research at Westwood Global Energy Group
The Glengorm gas condensate discovery announced last week could be the biggest in the UKCS since 2008. It will reignite interest in the high temperature, high pressure plays in the North Sea and heralds a mini renaissance in UK exploration.
After a difficult few years, the exploration sector is back in the black – and keen to stay there. New analysis from Wood Mackenzie shows that explorers’ success in 2018 reflects a disciplined approach that’s set to continue this year.
A multi-million pound fund created to get unemployed oil and gas workers back into the world of work by using the skills they developed in the industry has helped 4,000 people.
Soaring production in North America’s most prolific oil field helped propel Exxon Mobil Corp. and Chevron Corp. to bigger-than-expected fourth-quarter profits. Shares for both explorers jumped.
Struggling oil field service company Weatherford International closed 2018 with a $2.8 billion loss, sliding deeper into the red as it moves into what will become its fifth year of losses.