Wood Mackenzie, the global natural resources research consultancy, revealed on July 15 its partnership with P2 Energy Solutions to better analyze current and future well spacing.
This will be achieved by leveraging WoodMac’s well data and P2's lease and production unit content and will be accessible on Wood Mackenzie Lens, an entirely new analytics platform offering real time data, intuitive design and powerful visualization.
As multibillion dollar global energy M&A activity gains pace, U.S. lower 48 valuation data has never been more keenly sought, Wood Mackenzie said on July 15. This is particularly true for locations across the Permian Basin, where unconventional hydrocarbon development not only influences global commodity prices, but also drives investment decisions.
This combined content offering will allow investment and petro-technical professionals to quickly assess the current value of a lease or company position in the contiguous U.S. It also enables robust benchmarking of future reserve and resource value of assets during investment or deal screening.
“The partnership will combine WoodMac's well data with P2's lease data to perform geospatial analytics. This combination of cost, production, wellbore path and lease data will create a solution the market has never seen before. With Wood Mackenzie’s Lens platform, long, tedious valuation workflows will now take minutes, rather than hours,” Tom Wilker, senior vice president of subsurface at Wood Mackenzie, said.
The partnership plans to release the product in the third quarter of 2019. Working prototypes of the solution will be showcased during the URTeC conference in Denver during July 22-24, 2019.
EQM Midstream Partners LP has told U.S. federal regulators the company would stop some work on its long-delayed Mountain Valley natural gas pipeline from West Virginia to Virginia as the U.S. Fish and Wildlife Service reviews a couple of permits.
Norway's BW Offshore has won approval from Brazilian oil regulator ANP for the purchase of the Maromba oilfield, part of the Oslo-listed company’s plan to become an operator and not just a supplier of oil services, platforms and ships.
Husky, the operator and majority owner of the White Rose Field, said it expects production there to ramp up to about 20,000 barrels per day after the start-up.