March 2017, Vol. 244, No. 3

In The News

World News

Douglas–Westwood Offers 2017 Outlook The past year has undoubtedly been one of the toughest for the oil and gas industry in recent memory. The London–based firm considers three key themes that could shape the industry over the year ahead. A North America–Led OFS Recovery: OFS markets are expected to bounce back in 2017 and it is expected North America onshore activity will be at the forefront. These projects are characterized by short lead times, and drilling and completion costs have nearly halved since 2014. Rig activity is recovering fast with more than 600 rigs working in the U.S. now vs a low of 404 in June 2016. New offshore production systems orders to finally emerge: It’s been 18

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