The U.S. might not need shale oil growth now, but from 2017-2020 demand will require an additional 0.7-0.9 MMbbl/d annually, an analyst said.
FMC Technologies will contribute 39% of the company’s enterprise value and own 49% of a stake in the merger with Technip. But is it worth it?
The subsea tree market has tanked, but the technology remains viable and vital in the long term.
If the deal receives the blessing of FMC and Technip shareholders and other necessary regulatory approvals, the new company will operate as five business units: surface, subsea services, products, subsea projects and onshore/offshore.
Oil supplies are stable, low prices are expected to continue in 2016 and ‘there are no plans to purchase E&P assets,’ a Korean oil executive says.
How the industry ‘gets out of this mess’ will require addressing financial issues and carefully allocating capital. Opportunities remain.
Well service work has focused on necessary maintenance and little else in the Marcellus Shale area, according to Hart Energy's Heard In The Field survey respondents.