Compressors are used in a wide range of applications in the oil and gas, energy, and petrochemical industries. The growing hydrogen, carbon capture, biofuels, and other energy transition markets present new opportunities for compressor companies. Many of these industries are being built from the ground up, offering years of growth for compressors and related equipment […]
From Russia with love: Tracking Russia’s fossil fuel market
Ever since Russia invaded Ukraine on February 24, 2022, western countries have spent a lot of time cutting ties with Russia and enacting sanctions to financially pressure them, with a particular emphasis on their fossil fuel industry. With more than a year passing since the start of this war, in this blog, we take look […]
Wax on, wax off: Growth of waxy crude in the Uinta basin
The Uinta basin, located in northeast Utah, is starting to gain some attention from oil and gas players. The basin’s ~120 thousand bpd of production pales in comparison to the Permian’s ~5.6 million bpd produced today. However, production of the basin’s waxy crude has rapidly been increasing (Figure 1), and refiners continue to desire this […]
Snakes aren’t the only thing rattling in Texas
Over the last several years, earthquakes in the Permian basin have increased in both number and intensity. In 2022 there were more than 8x the number of magnitude 3 earthquakes or greater than those that occurred annually in in the years from 2015 to 2019. (Figure 1). In fact, two of the five largest tremors […]
Hot spots in oil and gas exploration
Oil and gas prices were relatively high in 2022, although they have come down significantly from their highs reached last summer. Despite the drop, oil prices have remained higher than what we have seen for the last seven years, and natural gas was at level not seen in over a decade. Even with these prices, […]
2023 Upstream Oil & Gas Outlook: Tight supply and little growth
Upstream oil and gas fared well in 2022. Despite oil prices falling over 30% from their summer highs, oil and gas prices remain elevated, with WTI prices over $70 per barrel and natural gas at prices not seen since 2008. Net income in 2022 is expected to double from 2021 for oil and gas producers, […]
Artificial lift accelerates in the shale patch
As the shale patch enjoys the current upswing in commodity prices and prepares to supply the marginal barrel of demand growth, operators have significantly accelerated the adoption of artificial lift options. Through a mix of primary research conducted with oil & gas operators in the Permian, Bakken, Eagle Ford, and the Rockies, coupled with extensive […]
Addressing natural gas flaring: A step towards energy transition
Flaring possesses considerable challenges due to the recent growth in associated gas production primarily from oil-producing plays such as the Permian, Eagle Ford, and Bakken. Flaring can be a consequence of bottlenecks in midstream infrastructure, well development, or process upsets at the well site. As shown in Exhibit 1, key drivers for flaring include higher […]
2022 Upstream Outlook: Balancing growth and discipline
After the COVID-19 pandemic-related lockdown in 2020 that shook the global economy and shattered oil prices to record bottoms, the upstream oil and gas industry rebounded strongly throughout 2021 with oil prices reaching record levels not seen in past six years. Upstream oil and gas performed better than expected in 2021 and future trends will […]
Outlook for pipeline infrastructure in the Permian
In 2018-19, midstream players in the Permian Basin rushed to satisfy the demand for pipeline capacity driven by booming oil and gas production. The associated natural gas production had reached ~17 billion cubic feet per day (bcfd) and robust drilling activity and moderate gas prices had pressurized the midstream operators to expand the existing pipeline […]
