Published in Industry News, Offshore, Onshore, Upstream
Competition for oil companies does not solely come from overseas anymore; the fiercest opponents are across the street, or maybe even in the same building.
Executives and engineers responsible for offshore drilling are struggling to compete with their compatriots in the onshore shale oil fields. With the U.S. pumping more than 10 million barrels a day, the competition is Houston vs. Houston to see who can build the simplest, most productive wells.
At the biggest oil companies, offshore engineers on one floor are competing against shale brethren on another for the limited dollars available for drilling. The team that produces the most barrels at the lowest breakeven price wins. […]