We quantify the economic benefits of working remotely between $5-16k per employee per year, as a function of income levels, looking line-by-line across time savings, productivity gains, office costs and energy costs. The model allows you to flex these input assumptions and test your own scenarios.
Based on our research, we think the proportion of remote work could step up from 2009 and 2017 levels (quantified in the file) to displace 30% of all commutes by 2030. This conclusion is justified, by summarizing an excellent technical paper, and a granular breakdown of jobs around the US economy, looking profession-by-profession.
This model presents the economic impactsof developing a typical, 625Mboe offshore gas condensate field using a fully subsea solution, compared against installing a new production facility.
Both projects are modelled out fully, to illstrate production profiles, per-barrel economics, capex metrics, NPVs, IRRs and sensitivity to oil and gas prices (e.g. breakevens).
The result of a fully offshore projectis lower capex, lower opex, faster development and higher uptime, generating a c4% uplift in IRRs, a 50% uplift in NPV6 (below) and a 33% reduction in the project’s gas-breakeven price.
Please download the modelto interrogate the numbers and input assumptions.
SuperMajors’ shale developments are assumed to differ from E&Ps’ mainly in their scale and access to capital. Access to superior technologies is rarely discussed. But new evidence is emerging. This note assesses 40 of Chevron’s shale patents from 2019, showing a vast array of data-driven technologies, to optimize every aspect of shale.
Shell is revolutionizing LNG project design, based on reviewing 40 of the company’s gas-focused patents from 2019. The innovations can lower LNG facilities’ capex by 70% and opex by 50%; conferring a $4bn NPV and 4% IRR advantage over industry standard greenfields. Smaller-scale LNG, modular LNG and highly digitized facilities are particularly abetted. This note reviews Shell’s operational improvements, revolutionary greenfield concepts, and their economic consequences.
This data-file tabulates super-computing capacitypossessed by leading companies in the energy industry, based on public disclosures and internet sources: both directly owned by the companies, or available through partnerships with research institutions.
Computing capacity has increased by 70x since 2009, rising at a c50% CAGR. The pace of growth is quickening, with a 4x increase since 2016, which is a c60% CAGR.
Main usesfor the super-computers are in seismic processing, reservoir modelling and well-placement; but also for operational process efficiency and downstream catalyst development.
Leading companies are identified in the data-file, although this metric should not be over-emphasized. The largest reservoir simulation to-date was not conducted using an “owned” super-computer, but rather in partnership with an academic institution. The largest supercomputer in the world is also larger than the entire oil industry’s super-computing power combined.
This data-file calculates the financial and carbon costsof running electric submersible pumps (ESPs) at oilfields, as a function of half-a-dozen input variables. This matters with ESPs fitted on 15-20% of the world’s c1M oil wells.
Opportunities to optimise: CO2 intensities can be lowered 25% by switching diesel-powered ESPs to natural gas, and theoretically by 100% by switching to renewables. Associated kg/boe and cost savings are tabulated in the data-file.
Leading Majors and new technology companiesare also pioneering means to improve ESP efficiency. We tabulate our top examples in the data-file. Initiatives from Aramco and Equinor screen as most impressive.
Small, autonomous, electric vehicles are emerging. They are game-changers: rapidly delivering online purchases to customers, creating vast new economic possibilities, but also driving the energy transition. Their ascent could eliminate 500MTpa of CO2, 3.5Mboed of fossil fuels and c$3trn pa of consumer spending across the OECD. The mechanism is a re-shaping of urban consumption habits, retail and manufacturing.
Technology leadershipis crucial in energy. But it is difficult to discern. Hence, we reviewed 3,000 patents across the 25 largest companies. This note ranks the industry’s “Top 10 technology-leaders”: in upstream, offshore, deep-water, shale, LNG, gas-marketing, downstream, chemicals, digital and renewables. In each case, we profile the leading company, its edge and the proximity of the competition.
The database evaluates 950 technical papers that have been presented at shale industry conferences from 2018-2020. We have summarised each paper, categorized it by topic, by author, by basin, ‘how digital’ and ‘how economically impactful’ it is.
The aim is to provide an overview of shale R&D, including the cutting edge to improve future resource productivity. We estimate 2020 was the most productivity-enhancing set of technical papers of any year in the database.
Recent areas of innovationinclude completion design, fracturing fluids, EORand machine learning. We also break down the technical papers, company-by-company, to see which operators and service firms have an edge (chart below).
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