On Point

Critical, Forward-Looking Analysis of the Upstream Oil and Gas Industry
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Cost Watch: Q4 2012

Cost Watch

25 Feb 2013

Cyclical forces have recently begun to overwhelm the structural forces that have driven the US rotary rig count recovery over the past 2 1/2 years.  These cyclical forces have been pounding cash flows of North American oil and gas producers from both sides since mid-2011 and diluting the planned benefits of rising production ratesCyclical forces have recently begun to overwhelm the structural forces that have driven the US rotary rig count recovery over the past 2 1/2 years.  These cyclical forces have been pounding cash flows of North American oil and gas producers from both sides since mid-2011 and diluting the planned benefits of rising production rates.

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Cost Watch: Q3 2012

Cost Watch

28 Nov 2012

After an extended period of rising costs beginning in mid-2010, data through the third quarter of 2012 confirms our prior assessment that the rate of inflation stabilized early this year and has been declining in the last six months. 

The rebound in costs followed the recovery in total North American drilling activity since May 2009 with a significant lag. 

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Chevron Takes a Major Step in Building Future Profits from Pacific Basin LNG

A&D, Company Strategy

21 Aug 2012

Chevron and Royal Dutch Shell have reached an important agreement to an asset swap that solidifies each company's respective strategy in Pacific Basin LNG and the role of Australia in that strategy.

It is important to understand the value drivers of this deal from...

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Company Dynamics

Upstream Dynamics

19 Aug 2012

Company Dynamics, a new Upstream Dynamics™ service by Gordon Energy Solutions, transforms data into answers across all key performance attributes of your company, competitors, partners, and customers.

What strategic choices have been made and what are their effects on the company's future? Where is the company today, where is it heading, and what will it become?
Get the latest forecasts of net reserves and production, capital spending, net cash flow and valuations grouped by 15 characteristics...

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

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...

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Cost Watch: First Half 2012

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.

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Why the Rosneft JV Alliances Matter

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.

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

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...

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North American Arctic Gas Takes a Hit

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...

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The Future of North American Natural Gas Prices

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?

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