Around 20% of Europe’s mid- and small-sized oilfield service companies, the vast majority of which are British or Norwegian, are set to become insolvent, say Rystad.
A review of 66 projects on the Norwegian continental shelf (NCS) between 2007– 2018 has revealed that most have kept their estimated costs.
The event, due to be held in May in Houston, Texas, has been postponed to the third quarter of 2020.
The event was due to be held in The Woodlands in Texas, US, from 24 - 25 March.
According to Adam Johnson, there are several key areas of potentially terminal disagreement between the EU and Britain.
Japanese E&Ps find themselves at a crossroads, as domestic drivers to develop international resources are weakening and the energy transition has forced a review of upstream strategies.
A surge in offshore well intervention activity over recent years is helping the North Sea develop into a global centre of excellence for innovative oilfield services.
The US Bankruptcy Court for the Southern District of Texas has confirmed the company's Plan of Reorganization.
A significant portion of the acreage available in 1Q20 is located in either deep or ultra-deep water, up from the previous quarter, according to GlobalData.
The growth in US crude oil exports in 2019 has been attributed to increasing US crude oil production, expanding domestic infrastructure, and increasing global demand for light, low-sulfur crude oils.
Oil prices could fall into the low US$20s for the global market to rebalance, as Rystad Energy expects an increase in global supplies in the next three months.
Derek Leith has said that Chancellor Rishi Sunak's decision to make no legislative change for the UK oil and gas industry is "a welcome move."
The price war will heavily impact service company revenues, even driving some out of the market, according to Rystad Energy.
A Rystad Energy impact analysis shows that US drilled but uncompleted wells will be the first assets to be threatened by the newly formed low price environment, as their breakeven costs are now only dollars away from market prices.
Wood Mackenzie’s Tom Ellacott has said that the oil price collapse could be the trigger for a new phase of deep industry restructuring – one that rivals the changes seen in the late-1990s.