State of the Industry – Jobs


There are still no clear answers how the market will play out for 2015 for both field service and professionals in engineering and geoscience, but some expected reactions are coming exactly as expected. The overall decline for field service workers has declined nearly 45% over the last three months and needs for engineering, geoscience and technical professionals for service and operating companies as declined over 38% in that same period of time.
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Energy 2015 – Five Developments to Watch in the US and Beyond


What does 2015 have in store for the energy industry? Making predictions is always a difficult proposition, and trying to predict the price of crude is a daunting task. As they say, if you are going to forecast, forecast often.
 
But looking back on events and activities this past year gives us some comfort to forecast the trends and “big picture” happenings that we’ll likely see in 2015. So, here are my thoughts on the top five energy industry developments to be aware of next year – regardless of whether the price of crude oil goes up or down:
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Where the Falling Prices Affect Jobs


At the time of authoring this article, WTI for December 2015 last traded at $52.89 which is – $0.76 from prior settle. Should the futures hold, we are not expecting to rise above $50.00 until September. Along with this, according to a study by Oil & Gas Journal, currently planned capital expenditures for US producers is expected to drop 17% to $571 billion with an expected West Texas intermediate price of $70.00/bbl. However, the timeline to maintain or achieve a return to that pricing differs from company to company and leadership in many organizations may continue to recalculate additional expenditure cuts until pricing stabilization or sustained return to the WTI price which budgets were originally based against. [Read more…]

Oil pricing: Is this a ‘new normal’?


After three years of US$100-plus crude prices, some in the energy industry were caught off-guard when prices declined by 40 percent in the fourth quarter of 2014.
 
A glut of supply – including record production from unconventional development in the US – and slow-growing demand put a quick downward pressure on prices.
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