New Approaches to an Old Industry – Smart Oil and Gas Field of the Future


While oil and gas prices fluctuate with the latest economic report, the challenges facing companies extracting those fuels are less volatile. Instead, those challenges could best be characterized as complex and well-known.
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Oil Demand and Well Decline Rates Ensure Strong Outlook for Oil Industry


Primary energy consumption continues to accelerate globally despite several years of slow economic growth. With increased consumption, production of oil continues to grow surpassing record level of 90 million barrels per day worldwide. Not only does the oil industry need to produce more to meet ever increasing demand, it also needs to overcome existing well production declines. All active wells ultimately decline in production as resources are tapped, though there is an opportunity for technology to slow or in some cases even temporarily reverse those decline rates. In addition, as existing wells decline, more and more new wells need to be drilled to keep up with demand. Offsetting of oil decline rates for both existing and new wells, therefore, is high on the industry’s agenda for good reason. It is a critical factor to understand future trends in the oil industry.
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What’s Next for America’s Biggest Oil & Gas Producing States: Wyoming


The oil and gas boom may be relatively new to Wyoming, but energy most definitely is not. Just as Texas dominates America’s oil production, Wyoming is No. 2 in the country for total energy production, accounting for roughly 40 percent of total U.S. coal production in 2012 and further ranking as America’s leading producer of uranium for nuclear power. In fact, the Wyoming State Geological Survey (WSGS) estimates that if Wyoming were to cease production of coal, natural gas and uranium, much of the country would go dark within a couple of months.
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“Great Crew Change” Affecting Offshore E&P and at Greater Numbers than Onshore


As Cuba is no longer focusing on offshore development and with many operators, especially US firms, foregoing any possibilities of keeping the offshore talent close to home in the Caribbean with development opportunities due to the embargo, this lack of needs does not alleviate them from a brutal war for talent as there is an overall increase continuing to grow in offshore development. This also spreads the talent needs geographically, without very much concentration in one area as there are very few regions that are decreasing output or exploration.
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