Peak oil

GeoPark Announces 2020 Certified 2P Reserves of 175 Million Boe With Net Present Value (After Tax) of $2.5 Billion

Retrieved on: 
Thursday, February 18, 2021

All reserves included in this release refer to GeoPark working interest reserves before royalties paid in kind, except when specified.

Key Points: 
  • All reserves included in this release refer to GeoPark working interest reserves before royalties paid in kind, except when specified.
  • Net present value after tax discounted at 10% (NPV10 after tax) of 1P reserves decreased by 6% to $1.5 billion due to a lower price deck
    2P Reserves: Proven and probable (2P) reserves in Colombia increased 9% to 141.0 mmboe, with a 2P RLI of 11.6 years.
  • NPV10 after tax of 1P reserves decreased by 10% to $1.6 billion
    2P Reserves: 2P reserves increased 6% to 174.7 mmboe, with a 2P RLI of 11.9 years.
  • NPV10 after tax of 2P reserves remained steady at $2.5 billion
    3P Reserves: 3P reserves increased 19% to 270.9 mmboe, with a 2P RLI of 18.4 years.

Matador Resources Company Reports 7% Annual Increase in Total Proved Reserves, Including 17% Annual Increase in Proved Developed Reserves and 12% Annual Increase in Delaware Basin Proved Reserves

Retrieved on: 
Wednesday, February 17, 2021

Oil, natural gas and total proved reserves at December 31, 2020 were each at all-time highs for Matador.

Key Points: 
  • Oil, natural gas and total proved reserves at December 31, 2020 were each at all-time highs for Matador.
  • Proved developed oil, natural gas and total reserves at December 31, 2020 were each at all-time highs for Matador.
  • At December 31, 2020, the Delaware Basin comprised 97% of the Companys total proved oil and natural gas reserves, including 98% of its proved oil reserves and 96% of its proved natural gas reserves.
  • Delaware Basin oil, natural gas and total proved reserves at December 31, 2020 were each at all-time highs for Matador.

Global Flexible Pipe Market (2021 to 2026) - Growth, Trends, COVID-19 Impact, and Forecasts - ResearchAndMarkets.com

Retrieved on: 
Tuesday, February 16, 2021

With the growth of disposable income and the increasing number of working women, the demand for cosmetics is increasing year-on-year.

Key Points: 
  • With the growth of disposable income and the increasing number of working women, the demand for cosmetics is increasing year-on-year.
  • This increasing demand for oil and gas requires effective transportation of oil and gas are under enormous physical and chemical stress.
  • The transport sectors are the highest consumption oil and gas and thus, it will fuel the demand for flexible pipe market.
  • The increase in demand for oil and gas will, in turn, boost the flexible pipe market during the forecast period in North America.

Genel Energy PLC: CORRECTION: Update on oil reserves and resources

Retrieved on: 
Tuesday, February 16, 2021

Tawke field 2P reserves stood at 245 MMbbls (261 MMbbls at end-2019) and 3P reserves at 359 MMbbls (376 MMbbls at end-2019).

Key Points: 
  • Tawke field 2P reserves stood at 245 MMbbls (261 MMbbls at end-2019) and 3P reserves at 359 MMbbls (376 MMbbls at end-2019).
  • The Enhanced Oil Recovery project at the Tawke field has started to deliver a positive impact on production.
  • Pending further work on the project, the 23 MMbbls of 2P and 45 MMbbls of 3P gross reserves that DeGolyer and MacNaughton previously included in their figures continues to be maintained by Genel in 2C and 3C resources.
  • At Peshkabir, also on the Tawke licence (Genel 25% working interest), year-end 2020 gross 1P reserves were assessed at 61 MMbbls (51 MMbbls at end-2019), 2P reserves at 125 MMbbls (116 MMbbls at end-2019) and 3P reserves at 201 MMbbls (220 MMbbls at end-2019).

Genel Energy PLC: Update on oil reserves and resources

Retrieved on: 
Tuesday, February 16, 2021

Tawke field 2P reserves stood at 245 MMbbls (261 MMbbls at end-2019) and 3P reserves at 359 MMbbls (376 MMbbls at end-2019).

Key Points: 
  • Tawke field 2P reserves stood at 245 MMbbls (261 MMbbls at end-2019) and 3P reserves at 359 MMbbls (376 MMbbls at end-2019).
  • The Enhanced Oil Recovery project at the Tawke field has started to deliver a positive impact on production.
  • Pending further work on the project, the 23 MMbbls of 2P and 45 MMbbls of 3P gross reserves that DeGolyer and MacNaughton previously included in their figures continues to be maintained by Genel in 2C and 3C resources.
  • At Peshkabir, also on the Tawke licence (Genel 25% working interest), year-end 2020 gross 1P reserves were assessed at 61 MMbbls (51 MMbbls at end-2019), 2P reserves at 116 MMbbls (125 MMbbls at end-2019) and 3P reserves at 201 MMbbls (220 MMbbls at end-2019).

Worldwide Clear Brine Fluids Industry to 2025 - Increasing Demand from the Oil and Gas Industry - ResearchAndMarkets.com

Retrieved on: 
Thursday, February 4, 2021

Proliferating the oil and gas sector along with increasing drilling of rigs for gas extraction will significantly contribute to the industry expansion during the forecast period.

Key Points: 
  • Proliferating the oil and gas sector along with increasing drilling of rigs for gas extraction will significantly contribute to the industry expansion during the forecast period.
  • Depleting of easily available natural gas and crude oil sources is forcing energy companies to look for unconventional energy sources, accompanied by increasing adoption of efficient techniques like enhanced oil recovery will further boost the clear brine fluids markets.
  • Clear brine fluids requirement for the exploration and extraction of such energy sources from the reserves will accentuate the volume.
  • Until 2019, the oil and gas production was expected to grow significantly due to increasing energy import demand from the Asia-Pacific and Europe.

Global Oil and Gas Discoveries Quaterly Review, Q2 2020 - A Total of 23 Oil and Gas Discoveries were Made - ResearchAndMarkets.com

Retrieved on: 
Wednesday, January 27, 2021

The "Global Oil and Gas Discoveries Quaterly Review, Q2 2020 - China and Brazil Led Discoveries Count in the Quarter" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Global Oil and Gas Discoveries Quaterly Review, Q2 2020 - China and Brazil Led Discoveries Count in the Quarter" report has been added to ResearchAndMarkets.com's offering.
  • Globally, a total of 23 oil and gas discoveries were made during Q2 2020.
  • Of these, 15 are oil discoveries and eight are gas discoveries.
  • Among countries, China and Brazil, had the highest number of discoveries with three each in Q2 2020.

From Oil to Energy: IOC Strategies for the Energy Transition Post COVID-19 - ResearchAndMarkets.com

Retrieved on: 
Monday, January 25, 2021

The "From Oil to Energy - IOC Strategies for the Energy Transition" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "From Oil to Energy - IOC Strategies for the Energy Transition" report has been added to ResearchAndMarkets.com's offering.
  • Oil and gas demand hit hard by COVID-19 shock.
  • Potential for long-term behavioral change after lockdown experiences creates uncertainty over transportation demand for oil.
  • Major IOCs recognized large impairments in Q2 after downward revisions to future oil and gas price assumptions.

Global Oil and Gas Discoveries Quaterly Review, Q3 2020 - Norway Led Discoveries Count in the Quarter - ResearchAndMarkets.com

Retrieved on: 
Tuesday, January 19, 2021

The "Global Oil and Gas Discoveries Quaterly Review, Q3 2020 - Norway Led Discoveries Count in the Quarter" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Global Oil and Gas Discoveries Quaterly Review, Q3 2020 - Norway Led Discoveries Count in the Quarter" report has been added to ResearchAndMarkets.com's offering.
  • In Q3 2020, a total of 28 oil and gas discoveries were made - all being either conventional oil or conventional gas.
  • Asia led globally with nine oil and gas discoveries, of which eight are conventional gas.
  • Among countries, Norway, had the highest number of discoveries with four in Q3 2020.

The Worldwide Oil and Gas Security and Service Industry is Expected to Reach $32.5 Billion to 2025

Retrieved on: 
Thursday, January 14, 2021

The oil and gas security and service industry is driven by various factors, such as growing political instability in Middle East and need to ensure compliance with industry regulations in oil and gas security and service market.

Key Points: 
  • The oil and gas security and service industry is driven by various factors, such as growing political instability in Middle East and need to ensure compliance with industry regulations in oil and gas security and service market.
  • The recent COVID-19 pandemic is expected to impact the oil and gas security and service industry.
  • The oil and gas security and service market in Middle East and Africa is expected to grow at the highest CAGR during the forecast period.
  • In North America, there is a tremendous demand for oil and gas security and service.