New research released from the Bureau of Safety and Environmental Enforcement (BSEE) and Bureau of Ocean Energy Management (BOEM) indicates the need to define the Gulf of Mexico Shallow Water Province (water depth less than 200 meters) as a distinct province to avoid stranding more than $20 billion of the Nation’s oil and natural gas resources.
Rystad Energy is forecasting that overall global upstream investments in 2020 will decrease by around 4%. Investments in shale/tight oil are expected to contract the most next year by almost 12%.
Royal Dutch Shell plc (“Shell”) announces that it has signed a $10 billion revolving credit facility. The new facility replaces Shell’s existing $8.84 billion revolving credit facility and is provided by a syndicate of 25 banks.
Natural gas production for Northwest Europe is forecast to decline by approximately 25% from current levels over the next five years as upcoming projects struggle to offset overall declines, according to GlobalData, a leading data and analytics company.
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