US upstream news

API has welcomed a letter in support of the safe and environmentally responsible development of the US’ offshore energy resources.

Sacgasco Limited has advised Empyrean that installation of the surface conductor for the Dempsey 1-15 appraisal and exploration project is now complete.

EIA now forecasts Brent crude oil spot prices to average US$51/bbl in 2017 and US$52/b in 2018. West Texas Intermediate (WTI) crude oil prices are expected to be US$2/bbl lower than Brent prices in 2017 and 2018.

This includes a 41% increase in estimated development gas well completions and a dramatic 81% increase in total estimated oil well completions from year-ago levels.

Streamlining permitting processes and decisions will improve confidence to invest in federal energy projects that will create jobs and benefit consumers.

PJ Valves (PJV), the specialist manufacturer and supplier of valves for the global energy industry, has appointed Kevin Schumacker as Business Development Manager in Houston, to implement its regional growth strategy.

BP continues to make progress in shifting its exploration portfolio toward natural gas and advantaged oil.

ConocoPhillips is set to sell its interests in the Barnett to an affiliate of Miller Thomson & Partners LLC.

Elsevier’s information solution for exploration and development is set to strengthen oil and gas companies’ ability to analyse and prioritise opportunities.

McKinsey Energy Insights (MEI), the data and analytics specialist that provides distinctive insight and support to the global energy industry, has released its North American Shale Oil Outlook.