UK exploration up but success rate ‘falls off a cliff’
Exploration activity in the UK North Sea has picked up substantially since last year, but the success rate has “fallen off a cliff”, an analyst has said.
Westwood Global Energy Group
EV Private Equity eyes sales to reap rewards of oil and gas investments
EV Private Equity (EVPE) plans to reap the rewards of its investment in the oil and gas sector through a number of sales later this year.
Darach exploration well in SNS nears completion, Westwood Global reports
Westwood Global Energy reports that as of 22 August there were two active exploration wells and six appraisal wells drilling in the UK.
Oil down, but gas up as drilling activity increases in 2019, Westwood say
Drilling activity increased substancially for the first period of 2019 thanks to a resurgence in the gas market, according to energy research firm Westwood.
Chrysaor makes ‘material impact’ on UK while other newcomers ‘look to exit’
Chrysaor is the only new private equity-backed firm to make a “material impact” on the UK North Sea, according to new analysis.
Reid steps down from CEO role at Westwood Global
Energy industry analyst Andrew Reid said he was leaving consultancy Westwood Global Energy Group (WGEG) in “exceptionally good shape” after confirming his time as chief executive had ended.
Exploration: Oil finds in Greater Edvard Grieg area
Westwood Global Energy reports that there were five active exploration wells and two active appraisal wells as of June 25. Since the last report, six wells have spudded and four have completed.
Renaissance for high-impact exploration in NW Europe, Westwood Global says
North-west Europe is experiencing a renaissance in high-impact exploration, a new report said.
BiFab must ‘actively’ attract decom work after NnG setback, analyst says
Troubled manufacturing firm Burntisland Fabrication (BiFab) needs to "actively look to attract" oil and gas decommissioning work after losing out on another multi-million wind farm contract, a leading energy analyst has said.
Analysts predict boost for offshore rig rates amid surge in activity
Offshore rig rates are due to surge within two years as activity accelerates, according to new data.
‘Shifting landscape’ sees North Sea return to profitability
Alyson Harding, Technical Manager for North West Europe E&P at Westwood Global Energy Group, responds to Oil and Gas UK's Business Outlook Report published this week.
Time is right for oil companies to explore, Westwood Global says
A combination of higher crude prices, lower costs and less competition means the time is right for oil firms to go exploring, a new report said.
E&P cost cutting has ground to a halt, says Westwood
Cost cutting has ground to a halt among mid-cap international exploration and production (E&P) companies, but balance sheets have strengthened on the back of rising cashflows, a new report shows.
Offshore wind over a quarter of Capex by 2022, say Westwood
Research conducted by Westwood Global Energy Group has found that the offshore wind sector will account for over a quarter of global Capex by 2022.
Offshore drilling spend to decline over next four years, Westwood Global says
Spending on global offshore drilling and well services (DWS) will steadily decline over the next four years, according to analysts Westwood Global Energy.
Nascent oil recovery still fragile, Westwood Global says
Steady oil prices
Strong growth expected for US onshore market over next five years, Westwood says
The US onshore market is set for a period of strong growth with spending totalling $554billion expected through 2022, according to a new report from an energy consultancy.
North Sea drilling failures show explorers suffered ‘collective brain freeze’, analyst says
UK North Sea oil explorers may have suffered “collective brain freeze” when coming up with their ambitious 2017 drilling targets, an analyst has said.
Will Trump’s commitment to oil and gas affect US windfarm growth?
In light of recent comments regarding the US President’s focus on America’s oil and gas production and the desire to stoke the flames of the coal industry, Westwood Global Energy Group’s (WGEG’s) World Offshore Wind Market Forecast 2017-2026 decided to explore whether a Trump presidency is good or bad for the USA’s offshore wind industry.
Fewer but better: Exploration drilling so far in 2017
Fewer exploration wells were drilled in the first half of 2017, but commercial success rates were up, an analyst has said.
Election shows politicians taking decommissioning seriously, analyst says
The UK general election showed attitudes to decommissioning are “changing for the better”, an analyst has said.
Westwood: Is UK exploration drilling set for renaissance or are targets unrealistic?
Optimism is returning to North Sea exploration, though estimates for this year’s drilling targets could be unrealistic, an oil sector analyst has said.
New report says global exploration recovering from its ‘nadir’
Stability and a slow recovery during 2017 may consign last year to the history books as a “nadir” for conventional global oil and gas exploration, an Aberdeen-based energy research consultancy said yesterday.
Well numbers sink to 9-year low in 2016, but commercial success rates pick up
Well numbers and discovered volumes fell to a nine-year low in 2016, but success rates increased by 35% and further growth is expected this year, a new report said.
Westwood Global snaps up US market researcher
An Aberdeen-based group of energy consultancy firms has kicked off its expansion drive with the acquisition of a US firm.