Industry at a glance
Brutally cold winter weather, particularly in the eastern U.S., increased demand for heating fuels, leading crude oil price benchmarks to trend upward in January, with West Texas Intermediate spiking past the $100/bbl mark by month’s end. Natural gas prices on the Henry Hub passed $5/MMBtu during the same period. Oil stocks in the OECD countries showed their steepest decline in 15 years, due to increased drawdowns. OPEC crude production showed a modest increase in January, as falling Iraqi output was more than matched by a small recovery in Libya. Rapid demand growth, particularly in the non-OECD countries, promises increasing pressure on supplies in coming months.
- Applying ultra-deep LWD resistivity technology successfully in a SAGD operation (May 2019)
- Adoption of wireless intelligent completions advances (May 2019)
- Majors double down as takeaway crunch eases (April 2019)
- What’s new in well logging and formation evaluation (April 2019)
- Qualification of a 20,000-psi subsea BOP: A collaborative approach (February 2019)
- ConocoPhillips’ Greg Leveille sees rapid trajectory of technical advancement continuing (February 2019)