Need for New Ideas, Even in a Time of Tight Cash


The collapse in oil price in the second half of 2014 has brought a sharp cash crunch to the industry. R&D spending in oil and gas rose over the last decade, following prices and as companies have taken on more complex and challenging projects. By 2013, leading researchers and developers in the oil and gas sector were spending over $15 billion annually, double that of a decade earlier.
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How Technology Can Save the Day for E&P Companies


The Current State of Industry Debt
 
During the decade-long energy boom, U.S. E&P companies worked hard to boost their output substantially which in turn, also increased their debt loads. As the price of oil falls, many E&P companies are finding it difficult to profit on lesser performing wells and maintain their debt obligations. This has left most E&P companies attempting to line up billions of dollars in emergency financing ahead of potential rounds of cuts to their revolving loans.
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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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