"The World of Oil is Watching the US"

The market has shifted from being surprised by unconventional oil to forecasts being dependent on some level of growth from tight oil. We'll share our view of US oil production in an evolving market. The competitive value chain and short-cycle nature of unconventional developments means capital will continue to favor the US onshore. Demand for services skyrocketed in 2017 and higher prices or a stronger appetite for risk might be needed to push drilling and completion levels much higher. Oil is driving economics in most areas, but can the natural gas and NGL markets absorb the volumes that come alongside oil? Flaring could be back in vogue in West Texas and North Dakota if midstream companies aren't able to get ahead of operators.

Production will advance at current activity levels and how efficient operators can be will determine the level of increase. Wood Mackenzie forecasts steady growth in activity as oil prices improve, but has also considered how higher completion levels and degradation in well performance could impact the short and long-term expectations. Further technological and operational gains are needed to drive long-term growth and capture positive returns. Is tight oil up to the task?

Topics covered will include: 

How much oil does the world need and can the US fill the gap

Forecasts for drilling and completions  

Expectations in areas competing with the Permian from the Bakken to Wyoming and down through Oklahoma and Texas

Levels of well performance improvement and general degradation expectations

Could tight oil peak sooner than most expect