Lyceum Labs: Afternoon Labs

Oil

Cost & Innovation: Changing upstream dynamics

Monday, March 11

03:00 pm - 03:50 pm

Costs trends move apace with prices and activity, with cyclic gains often reversed. This Lyceum Lab will focus on the current experience of operators in North American tight oil and shale gas plays, where onshore drilling activity—and costs—are rising again. Offshore unutilized capacity persists with low demand and excess supply, and so costs have continued to drift lower. Significant cost reductions have been achieved through innovations resulting in efficiency gains, project redesign, and cycle compression, yet there is an opportunity to roll out such gains more widely. How will costs evolve in the coming years?

Session Speakers
  • Pritesh Patel

    IHS Markit

    Executive Director, Capital Costs Analysis Forum

  • Basel Nashat Asmar

    IHS Markit

    Director, Upstream Research

  • Andrew Day

    IHS Markit

    Consulting Director