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Tudor Pickering Holt: Oil prices could reach $70/bbl in 2017

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Byron Pope, Managing Director, Oil Service Research at Tudor Pickering Holt, is forecasting that oil prices could get up to $70/bbl next year. He attributed this to growing global energy demand and shortened supply caused by canceled upstream projects around the world. Mr Pope also expects upstream CAPEX to grow in the coming year and for the US land rig count to continue increasing. However, it may take several more years for the offshore rig market to recover, he said. Watch the video with DC’s Alex Endress from the 2016 IADC Annual General Meeting in Scottsdale, Ariz., on 4 November for more information.

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Operators Group for Data Quality working on common data specifications

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Poor quality of real-time data at the rig site remains one of the drilling industry’s most critical challenges. It can, for example, impair the ability to measure, analyze and improve processes. The Operators Group for Data Quality has set out to improve the industry’s data quality by defining standards for the process capability requirements for...

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New report: Banning fracking could have devastating impact on Texas, American economy

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If hydraulic fracturing were banned, Texas could lose 1.5 million jobs and $196 billion in annual GDP by 2022, a new report from the US Chamber of Commerce Energy Institute finds. The fourth installment of the institute’s Energy Accountability Series details the devastating economic impacts that America, especially Texas, could face if the “Keep it in the Ground” movement succeeded in banning hydraulic fracturing for oil and natural gas.

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New survey aims to find out if energy industry has lost workforce for good

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A new survey has been launched that aims to determine whether the energy industry has lost its workforce to other industries for good. It’s estimated that approximately 20% of the industry’s workforce has been laid off over the past two years. During this time, spending at US drilling companies has been cut by more than 50%. The survey – a joint effort between the University of Houston Center for Applied Psychological Research (CARP) and Newhouse Consultants, aims to find out whether energy employees who have been laid off will return to the industry when demand increases. If not, will energy companies need to be prepared to hire and on-board large numbers of new hires? The survey aims to help to ...

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