Oil prices suffered again this week with WTI hitting a 10-month low (US$42.13 per barrel) while drillers continued their advance, adding 7 onshore rigs bring the total to 915 and increasing activity for a 23rd week in a row. Onshore rigs now stand 518 rigs above the same period a year ago, 428 targeting oil.Read more
While oil price suffered this week (WTI down to under US$45 per barrel, and Brent around US$47), drillers continued their upward march adding 6 onshore rigs, increasing activity for a 22th week in a row and bringing the total to 908. Onshore rigs now stand 510 rigs above the same period a year ago, 410 of this targeting oil.Read more
Drillers added 13 onshore rigs, increasing activity for a 21th week in a row and bringing the total to 902. Onshore rigs now stand 514 rigs above the same period a year ago, 413 of these targeting oil; in stark contrast, offshore rigs stand 1 rig above the same period last year.Read more
Drillers added 8 onshore rigs, increasing activity for a 20th week in a row and bringing the total to 889. Onshore rigs now stand 507 rigs above the same period a year ago.Read more
From May 30th - June 2nd you will find GCA's Nick Fulford at the Louisiana Energy Conference.
Nick is GCA's Global Head of Gas and LNG and will be speaking on: "How Are Companies Capitalizing on the Increasing Hydrocarbon Availability in the US?" He'll be looking particularly at the impact of LNG on Gulf producers.
You can find full conference details here or contact Nick directly if you have a specific enquiry.Read more
Drillers added 7 onshore rigs (5 targeting gas), increasing activity for an 18th week in a row and bringing the total to 881. Onshore rigs now stand 507 rigs above the same period a year ago.Read more
GCA held one of its regular industry seminars on the 18th May and welcomed over 130 senior attendees from the London, European and Global operating, financial and insurance sectors. The theme was “Value Creation in the Current Market” which GCA addressed from the perspective of three business streams; Exploration, M&A and Gas to Power using its perception of existing drivers and opportunities in the current greenshoot environment. GCA’s extensive understanding of the market conditions and available opportunities, built on over 200 projects a year, was leveraged to feedback a consolidated international view to the audience.
The abstracts and presentations are available to view or download using the links above.Read more
Exploration for hydrocarbons has been a pre-requisite to economic development since the industrial revolution.
Conventional exploration is under attack. With the growth of renewables in the energy mix, the slump in oil prices from the end of 2014 and a 'lower for longer' assumption, conventional explorers are employing different survival mechanisms to navigate a demanding environment.
Reserves Replacement Ratios (RRR) and Reserves to Production Ratios (R/P) appear outdated balance sheet indicators of performance; since 2014, companies are focussed on three major metrics; rate of return, breakeven development costs/barrel and an overall reduction in risk. There has been a shift away from high cost, complex projects with long lead times towards lower cost, lower risk projects.
In this talk, GCA's Rebecca Jones, a Senior Geoscience Advisor, examines the key metrics of change from exploration past to exploration future for a number of exploration companies in different basins of the world, and shows how a radical rethink in exploration strategy is enabling conventional explorers to stay in business.
You can read her presentation below, or download a copy here:Read more
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