Learn more about Hart Energy Conferences
Get our latest conference schedules, updates and insights straight to your inbox.
All eyes are on the OPEC and Non-OPEC meetings in Vienna where many expect a bump in production to emerge. As the meetings get started, Iran reportedly said it would not support a compromise that would result in even a modest output increase, even though OPEC members have been discussing a 600,000 barrel-a-day hike, according to Bloomberg.
Hart Energy spoke to Stephen Beck, senior director of North American shale at Stratas Advisors, for his take.
“I think what is most likely to come out of this meeting is, officially, we continue on the path we are already on. No change to the official position of curtailments through the end of the year. Unofficially, I believe that Saudi Arabia will continue to monitor the markets closely and make sure the markets are adequately supplied. But I don’t think that is going to lead to any market disruptions or supply disruptions. What I believe is that it will prevent any change in the official position of OPEC but Saudi Arabia will monitor,” Beck said.
Drillinginfo, the Austin, Texas-based research and data company, will be acquired by private-equity firm Genstar Capital. This comes after Drillinginfo acquired 1Derrick and PLS' research and database business. In an exclusive interview with Hart Energy, Allen Gilmer, Drillinginfo’s co-founder and executive chairman, said, “We saw an opportunity to clear up all the muddiness between these two firms and bring both in-house.”
Finally, U.S shale producers are starting to respond to China’s threat to impose a 25% tariff on crude, natural gas and coal, in retaliation for the Trump administrations planned tariff on Chinese goods. Ron Gasser of West Texas shale producer Mammoth Exploration said in an interview with Reuters that the tariff would hurt everyone in the short-term but U.S. crude will continue to flow to market even with tariffs.
2023-12-19 - Both AI and generative AI are expected to boost efficiency and productivity in 2024—if companies use the technology strategically.
2023-12-22 - Starting from the desired outcome, or right to left thinking, drives the lifecycle information management approach for planning data strategies that achieve specific goals.
2023-12-14 - GoNetZero’s Renewable Energy Navigator Explorer (René) AI platform is designed to address industrial knowledge gaps.
2023-12-12 - Autonomous inflow control devices have evolved from a simple on-off switch to reservoir management tools.
2023-12-13 - Validere’s Carbon Hub emissions management software looks to push the industry past Microsoft Excel spreadsheets and into the world of machine learning.