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CNOOC Makes Next Step towards Global Competitor Status with the Nexen Deal

On Point:  A&D

26 Jul 2012

CNOOC has announced that it will acquire Nexen Inc by paying an estimated US$15.1 billion in cash for outstanding common and preferred shares plus assumption of US$4.3 billion in outstanding debt (US$2.8 billion net debt).

This acquisition follows up on CNOOC's...


Oil Price Risk Exposure in Global Upstream

Industry Perspectives Study:  Industry Perspectives Study

26 Jul 2012

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Cost Watch: First Half 2012

On Point:  Cost Watch

19 Jul 2012

While data for the first half of 2012 shows that upstream sector costs have continued to rise, the rate of inflation compared to last year is stabilizing in the volatile service and supply sectors and has been dropping in the less volatile machinery sectors. These patterns in sector costs reflect multiple underlying trends that should be watched carefully -- especially by the companies selling goods and services to the North American upstream sector.


Chevron 2012

Competitor Intelligence Report:  Competitor Intelligence Report

10 Jul 2012

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Why the Rosneft JV Alliances Matter

On Point:  A&D, Company Strategy

14 May 2012

Rosneft has reached agreements to form separate JV alliances with three Global Competitor companies: ExxonMobil, ENI, and Statoil.

What Rosneft brings to these deals is simple, acreage. What Rosneft acquires and the potential long-term consequences of these deals is less obvious.


The Cost of High Oil Prices: Argentina Takes Control of YPF

On Point:  Argentina, Nationalization, Unconventional Resources

11 May 2012

Argentina has passed legislation expropriating a 51% share in YPF from Repsol and declaring the oil and gas industry to be of "national public interest". The terms of compensation for Repsol's shares remain undetermined.

This latest move highlights the impact...


North American Arctic Gas Takes a Hit

On Point:  Arctic

11 Apr 2012

In past issues of On Point we have warned that North American Arctic gas supply prospects were at risk due to the rise in unconventional gas production.

It should come as no surprise, therefore, that the Mackenzie Gas project partners have announced that they are suspending the project. The decision was due to a continued decline in market conditions and unacceptable commercial terms...


The Future of North American Natural Gas Prices

On Point:  Price Outlook, Liquids-Weighted Shale, Unconventional Resources

13 Feb 2012

Under the combined impact of unusually warm weather and ballooning supply, natural gas prices have taken a beating this winter in North America. Recent announcements by Chesapeake Energy and ConocoPhillips that they will cut gas drilling operations is an important first step towards shoring up the beleaguered price of natural gas. We even saw a short term bump in price immediately following.

But will this be enough to ease the pain?


Cost Watch 2011

On Point:  Cost Watch

25 Jan 2012

This issue of Cost Watch reflects current estimates of inflation pressures in the oil and gas industry through the end of 2011...


Emerging East African Gas Discoveries Up for Sale

On Point:  A&D

06 Jan 2012

After opening a data room with the intent to sell its 8.5% working interest in the Offshore Area 1 (Rovuma Block) in Mozambique, the Board of Directors has decided to offer the entire company.

The license in Mozambique is the site of multiple gas discoveries including...



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