Wood Mackenzie lists 15 things to watch for in North America’s upstream sector in 2015. This opinion piece presents the opinions of the author. It does not necessarily reflect the views of Rigzone. The drop in oil prices has led to an unprecedented level of uncertainty going into 2015, especially for the prospects of the North American upstream oil and gas sector. While there is a lack of consensus about when oil prices will stabilize and at what level, Wood Mackenzie expects service cost relief, asset high-grading, and efficiency improvements in operations. “We are already seeing this play out as upstream operators announce drastically reduced capital budgets for 2015, yet forecast increased production growth (in aggregate),” says Delia Morris, senior North American upstream analyst for Wood Mackenzie. ” As long as operators can move to the core areas of plays and sub-play breakevens continue to fall with […]