With Australia's energy portfolio is transforming amid global interest in onshore resource plays. This July, the 3rd annual DUG Australia conference and exhibition united 250+ attendees and 40+ exhibitors and
sponsors for targeted discussions on current opportunities and the future of Australia's onshore oil and gas and LNG sectors. While many acknowledged facing challenges in this phase of the business cycle, the group remained bullish on the vast potential for the nation's onshore resource plays. In addition, discussions featured presentations combining lessons learned from North America with new insights on
existing Australian reservoirs.
The event's world–class speaker lineup featured leaders from top producers in Australia and beyond, including Santos, Strike Energy, Senex Energy, Armour Energy and others. Presenters discussed investment opportunities, economic forecasts, drilling prospects, and recent developments in LNG. With hours of networking opportunities built into the event, attendees had ample time to connect and discuss everything they learned in the conference sessions.
The conference may be over, but the conversation isn't! Find out what other attendees and exhibitors are saying on Storify. We would love to hear about your experience too.
Houston-based Hart Energy, information provider to the energy industry, and its Oil and Gas Investor Australia franchise, have been named the Global Media Partner for LNG 18, the International Gas Union's 18th International Conference and Exhibition on Liquefied Natural Gas – set for 11-15 April 2016 in Perth, WA. Learn more >>
Traders: OPEC Ouput Cut To Have Biggest Impact On February Contract As OPEC ministers prepare to meet in Vienna next month to thrash out a keenly anticipated but still uncertain cut to crude output, oil traders are jostling for position in futures and options markets in a bid to capitalize on any deal.While any cut agreed by OPEC at its Nov. 30 meeting could take effect as soon as Dec. 1, traders say the biggest price impact will be in contracts for delivery in early 2017, especially the February contract, rather than in the spot market."The reason why you're not going to see any impact on 4Q 2016 prices is because by November when this decision is made you are going to be trading January or February barrels," said Virendra Chauhan, crude oil analyst at trading consultancy Energy Aspects in Singapore.
WTI Crude Slides Further Below $50 On API Data Oil settled down on Oct. 25, then West Texas Intermediate (WTI) slid further below $50 a barrel (bbl) in post-settlement trade after an industry group reported that U.S. oil inventories grew nearly three times as much as forecast.The American Petroleum Institute (API) reported that U.S. crude stocks rose by 4.8 MMbbl in the week ended Oct. 21 vs. a 1.7 MMbbl build forecast by analysts polled by Reuters.The U.S. Energy Information Administration (EIA) reports official inventory numbers on Oct. 26. Last week, the EIA surprised the market, reporting an unexpected drawdown of 5.2 MMbbl for the Oct. 14 week as a storm delayed shipments of imported oil.
Nabors Sees Significant Demand Increases In US Lower 48 Nabors Industries Ltd. (NYSE: NBR) said on Oct. 25 it was seeing significant utilization increases in the Lower 48 states of the U.S., but that spot market pricing remained competitive.The contract oil and gas driller said its working rig count in the region had rebounded to an average of 50 in the third quarter, an increase of 13% from the second quarter."Increased demand is beginning to exert upward pressure on pricing for these top-end rigs, although in the near-term our fleet average margins will remain under pressure due to expiring long-term contracts," CEO Anthony Petrello said in a statement.