The United States has taken a unique view on the issues of mineral rights and developed a system that is typically only found in that country. We explore this maze of uncertainty.
Although new exploration is expected to bounce back from 2018 levels, the OGUK has cautioned that drilling activity continues to stand at a “record low rate” and supply chain firms remain under significant financial stress.
In 2019, we expect more than 9% in production growth, thanks to the ramp-ups of large projects like Kaombo or Egina plus some start-ups in Brazil, UK and Norway. But we can also expect a volatile Oil & Gas environment! This is why we will maintain financial discipline and pressure on cost reduction to further reduce our break even so as to remain profitable whatever the oil price and be able to invest in the company for the future..
Katie Jackson, Executive Vice President for Commercial and NBD at Shell, is one of the most active and prominent women in the business. Jackson’s range of expertise – including her start as a drilling engineer, her time in banking, followed by her move into industry management – have long made her a valuable asset and leader. Jackson delivers flagship deals for Shell building on her rich, industry experience, creativity, strong relationships, and understanding of the market.
Fiona MacAulay’s technical credentials over 30 years of oil and gas experience is what now makes her one of the most respected CEO’s in the industry. Taking over the helm of Independent Oil & Gas at the start of 2019, follows a succession of appointments to boards of energy companies desperate for her knowledge and experience. Of the five women leading FTSE 100 oil and gas companies, MacAulay is the only one who built her experience as an oil professional. No wonder she’s in such demand!
As CEO of Vår Energi, Kristin Kragseth led the acquisition of ExxonMobil’s North Sea assets in a move that catapulted Vår into being one of the region’s biggest producers. Ms. Kragseth’s long career in production management perfectly placed her to lead Vår Energi as they sought to cement their position on the Norwegian Shelf. With Kristin at the helm and currently producing more than 180,000 bpd with reserves of 1,250 million – Vår Energi will be a leading player for some time to come.
Last year’s winner, Energean, has enjoyed another headline-grabbing year, illustrating the opportunities available for Small Caps to expand operations and become household names. The shortlisted companies for this year’s award have all enjoyed significant success during the past 12 months.
Going forward, companies will have to focus on adopting creative business models, finding hidden opportunities and novel geological plays, and employing both a technically experienced and creative and energetic management team to ensure they can successfully deliver on both technical and financial goals, as well as investors expectations.
There are two energy transitions happening. Both are changing the deployment of capital in the oil and gas business. The first is the one everyone talks about: the transition from fossil fuels to renewable energy like wind and solar power. The second ,In North America, the process transition to horizontal, multi-stage hydraulic fracturing over the past dozen years has yielded spectacular oil and gas production growth.
Small and Mid-Cap companies will need to continue to apply themselves in new and evolving ways as ‘business as usual’ is no longer usual, and the demands and concerns of the wider world increasingly shape the future of all businesses now more than ever. With the legitimate concern of climate change, companies need to address the challenge and the role of carbon emissions in this.
Nimble, focused, bold – we believe small and mid-cap companies of the future will not sit back and rely on inherited approaches to asset management. The leaders in the sector will be action takers, blending the latest in technical innovation with people power.
Ahead of the North America Assembly 2019, we asked select speakers what their views are on key topics. Find out more
The global energy transition firmly focused on the decarbonisation of the energy sources that are utilised to power everyday life. However, the Trump administration has shied away from committing to the decarbonisation of the energy sector
With the momentum of Total’s discovery earlier in the year and the promise of an emerging player in the oil and gas sector, 2019 may be South Africa’s best opportunity to set the legal framework for a successful and productive domestic oil and gas industry.
The obvious place for the Energy industry to benefit from best practice in portfolio management is within the Financial Services industry, where the majority sources of funds come from. So are investors imparting their rigour around portfolio management with, essentially engineering companies, and are we really combining these two distinctly different worlds to unify and accelerate decision making.