As the Houston business sector comes to terms with compressed market conditions, opportunities are on the rise for SMEs, according to industry experts.
Hundreds of representatives of North Sea companies braved the downturn to attend the Offshore Technology Conference 2016 in Houston.
Enerquip has grown 300% in its first year of trading, increasing its team from five to 23.
Andrew Derry, Principal of the British International School of Houston, unveiled their new $80 million state-of-the-art campus to OTC on Monday, 2 May, 2016.
At 2am this morning Aberdeen company M2 Subsea, “pushed the button on setting up in Houston”. The ROV operations firm, incorporated on December 7 last year, sees the US Gulf of Mexico as a key market for its services and is said to be very close to landing its first contract in the region, possibly within days.
The first quarter 2016 reporting season is in full swing for many of the oil and gas companies. It was never going to be an easy ride, but the market has been pleasantly surprised that many of the leading companies are beating analysts’ forecasts by reporting better than expected results. The impact of cost cutting is feeding to the bottom line and combined with rising production, resilient refining margins and positive contribution from trading activities, the share price of most of the International Oil Companies have been rising steadily, despite the ongoing challenges with commodity prices.
Standing still is not an option when there is still a substantial oil prize worth fighting for, panelists argued at Energy Voice's business breakfast.
Operators are squeezing the service sector as hard as they ever have and it's starting to squeal back, according to company leaders.
The days of the industry spending profits on handbags and fast cars are over, according to the executive chairman of OES Oilfield Services Group.
Continued instability in the North Sea is prompting a new generation of oilfield services companies to look towards expansion into the US as a means of securing new business and attracting investment.
A joint industry project led by DNV GL has come to the view that wind-powered water injection is a viable alternative to conventional, energy intensive systems offshore.
Oilfield services specialist Expro has completed a plug and abandonment (P&A) project in the Gulf of Mexico (GoM) for Apache.
The Middle East and sector diversification are the industry’s answer to weathering the oil price storm, according to new research.
BP said its coined "lower for longer" downturn theme did not mean it believed it would be "lower forever".
80:20 has landed £25million in North Sea contracts.
As Aberdeen battles its latest oil price storm, 4,500 miles away a US town is caught up in the same headwinds, but this time with a much steadier oar.
Weir Oil & Gas has joined forces with Rolls-Royce to launch a new firm dubbed EPIX.
Given the devastating effects of the worst downturn in the energy sector since 1986, it is no surprise that fewer people are on the shuttle from Aberdeen to Houston for OTC 2016, but that fact belies the potential for North Sea and Gulf oilfield service companies, as well as firms from associated industries, to steal a march on their competitors and secure new opportunities.
OTC 2016 takes place in Houston from May 2-5 against one of the toughest periods facing the energy sector in a generation.