Mid-Year Forecast: International operators make their way forward carefully

Mid-Year Forecast: International operators make their way forward carefully
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Mid-Year Forecast: International operators make their way forward carefully

Although global oil and gas demand has recovered much of the ground lost last year, there are plenty of question marks left in the market for operators to navigate, including ESG and renewables challenges.

In the months following our February 2021 forecast, it initially appeared as though some stability was primed to return to the global drilling market. However, a fresh round of lockdowns, travel restrictions, and whipsawing demand projections—based upon the impacts of the Delta variant—made quick work of those expectations. Inflation, commodity shortages and a potentially unprecedented shortfall in natural gas stockpiles, just as the Northern Hemisphere prepares for winter, make shorter-term projections challenging once again.

North America, South America and the Far East (principally China) are projected to lead global drilling growth, while Russia, Eastern Europe and Western Europe look to track or slightly exceed 2020’s performance. Meanwhile Africa, the Middle East and South Asia are still sorting out market expectations and thus are showing appreciable declines in drilling, although 2022 will likely be a far better year for these areas. For 2021, World Oil foresees a total of 51,323 wells drilled worldwide, a 7.7% increase over 2020 rates. If the U.S. is left out of the total, then the rest of the world will be up 8.2%, at 38,871 wells.

On the production front, thanks to the Covid-19 pandemic and greatly reduced demand, global oil and condensate output dropped 8.2%, to 75.992 MMbpd, . Seven out of eight regions saw declines in oil production during 2020. Ironically, the region that showed an increase was Western Europe, up nearly 5%. This region posted a gain strictly on the strength of a 258,000-bpd increase in Norwegian oil output.

Given the reduced drilling rates worldwide, and the palpable dearth of exploration globally, it is not a surprise that oil reserve figures fell last year. Global oil and condensate reserves fell 0.5%, to 1.581 trillion bbl. Natural gas reserves increased 0.4% to 7,091.4 trillion cubic feet.

NORTH AMERICA

Outside the U.S., North American drilling is slated to increase 39.6% during 2021, with strong growth in Canada offsetting a primarily politically driven decline in Mexico.

Canada. Prime Minister Justin Trudeau’s narrow victory in a September snap election ensures that his climate-forward economic policies will become more ingrained in the country’s energy industry. A carbon tax, set to reach US$170 per ton by 2030, will stand, as part of Trudeau’s plan to force energy companies to enact carbon neutrality measures that will achieve net zero emissions by 2050.

Despite the shock to the industry from the cancellation of the Keystone XL pipeline, there are yet other means emerging to deliver Canadian crude to key export markets. As one example, Enbridge’s Line 3 pipeline, transporting oil sands product from Alberta to the U.S. state of Wisconsin, is continuing to move forward, with key legal victories on both sides of the border. An improving regulatory climate for transportation infrastructure, plus growing demand in the U.S., leads the Canadian Association of Petroleum Producers to anticipate drilling to increase 42.8% in 2021.

Mexico. The uncertainty surrounding President Andres Manuel Lopez Obrador’s Mexican Energy Reform Program, designed to reverse efforts to open Mexico’s oil and gas sector to third parties, was well and truly settled when the government took operational control from Talos Energy for its Zama field and handed it over to national partner Pemex. In an effort to support what amounts to the re-nationalization of Mexico’s oil and gas industry, AMLO recently approved a $32 billion budget for Pemex to boost domestic oil production. The generous outlay, to help Pemex lead Mexico to energy self-sufficiency, will be instrumental in ensuring that Zama field is able to operate to its full potential. While the president focuses closely on oil output, we expect the number of wells drilled this year to decline 3.4% from 2020’s level.

SOUTH AMERICA

Continued success in offshore exploration, coupled with increasingly cooperative national-level leadership, will make South America a bright spot for oil and gas operations in 2021. Even with the continued disintegration of Venezuela’s oil industry factored in, South American drilling is set to reverse a multi-year decline trend, with drilling forecast to increase 42.4% in 2021.Fig. 1. An example of focusing on existing production is Equinor’s Peregrino field, offshore Brazil, where a third wellhead platform was installed last year. The platform adds 250 MMbbl to 300 MMbbl of recoverable oil reserves. The second phase has been developed at a cost of about $3 billion and will start production in 2022. Image: Felipe Cantieri and Fabio Siqueira da Silva/Equinor.

Brazil. While South America’s biggest oil and gas producer is focusing on existing production (Fig. 1) in the very near term, Brazil is anticipated to undertake several key exploration projects that will make it the global leader in offshore oil production as soon as 2025. As many as 29 new crude oil projects will start in the next four years, with keystone operations Bacalhau, Lula Oreste and Buizos V (Franco) combining to deliver 44% of Brazil’s crude and condensate production in 2025. Until those projects start, however, drilling in Brazil is projected to decrease 21.7% this year. Last year, Brazilian oil output grew ever closer to the 3.0 MMbpd mark, averaging 2.940 MMbpd.

Colombia. Growing momentum in the exploration of unconventional assets sets Colombia as the clear leader in Latin American drilling, with new wells drilled expected to increase 33%. A push to replace output from conventional onshore fields, which have been in production for decades, is also driving offshore exploration interest. Growing rig fleets in Guyana, Suriname and Brazil are putting Colombian waters in their sights, but none of the new offshore blocks are in production yet. With average oil production sliding 11% in 2020, Colombia is motivated to create a positive fiscal and political environment for drillers.

Venezuela. Any sort of improvement in Venezuela’s oil and gas operations is far in the distance, in spite of oil minister Tareck El Aissami’s assertions that crude output will quadruple by the end of the year. All that depends on tens of billions of dollars in investment that are unlikely to materialize, particularly after the Biden administration signaled no intention to dial back sanctions. Demonstrating that a financial breakthrough is unlikely, Equinor and TotalEnergies both relinquished joint venture positions in a key PDVSA oil production operation in the Orinoco Belt. Based upon these realities, World Oil expects drilling to decrease 30.6% in 2021.Fig. 2. Argentina’s government has worked hard to ensure that operators will continue their exploration and development work in the Vaca Muerta shale region. Image: YPF.

Argentina. Building upon its $5.1 billion subsidy program to encourage domestic shale gas production, Argentina’s government is working to set ceiling and floor prices for domestic crude. The goal is to prevent surging consumer prices, while ensuring operators maintain interest in regions like Vaca Muerta (Fig. 2) when prices decline. These new initiatives, plus other infrastructure projects announced earlier this year, will help Argentina’s 2021 new well count to rise 74.9% to 668.

Guyana and Suriname. Among the world’s most exciting offshore exploration opportunities, Guyana and Suriname continue to pay off with new oil and gas discoveries. ExxonMobil has tallied several new discoveries offshore Guyana this year, going so far as to consider selling down its interest in Iraq’s West Qurna-1 field to focus on this new Latin American frontier. New wells drilled in Guyana and Suriname are expected to increase 33.3% during 2021.

WESTERN EUROPE

Rapidly shifting political attitudes are swiftly, and in some cases severely, impacting the future of oil and gas, particularly in the North Sea. A stem-to-stern reassessment of how the continent wants to approach a post-fossil fuel society is facing the harsh reality of meeting growing energy demands when the winter sun is weak and the winds don’t blow. Two very different outcomes are emerging as a result. Meanwhile, regional drilling is set to increase a modest 3.6%, to 347 wells.Fig. 3. The Phase 3 project at Equinor’s Troll A platform is an example of oil and gas development work that continues in Norway. Image: Equinor.

United Kingdom. Bowing to pressure from green parties, Scotland’s First Minister, Nicola Sturgeon, is calling for a “reassessment” of oil and gas drilling permits in the UK sector of the North Sea. Siccar Point’s Cambo development has seen its permit called into question as a result, with more to follow. For the time being, these reassessments only apply to issued permits that have not yet seen drilling activity. A similar legislative threat saw drilling rise in the New Mexico sector of the U.S. Permian basin on existing permits, which in part explains a 9.6% increase in wells drilled for 2021.

Norway. The North Sea stalwart may be the world’s most stable oil and gas region, tallying years of regular oil and gas development growth (Fig. 3). Norway’s approach to decarbonization, namely finding ways to make fossil fuel production more efficient and environmentally friendly, has more than a little to do with this continued growth. The Norwegian people seem satisfied with this more holistic approach to energy production, recently voting in a pro-oil coalition government in advance of key UN COP26 climate talks. Many in the UK likely support Norway’s approach as well; A 1,400-megawatt power transfer cable was recently installed to export Norwegian electricity to England, as it faces shortfalls from under-performing wind installations. As such, Norway’s 2021 new well count is projected to decrease 1.8% from the prior year.Fig. 4. Russian drilling appears to be headed back toward 2019’s levels. Image: LUKOIL.

EASTERN EUROPE/FSU

Russia. After the wild swings experienced last year, total oil and gas output is expected to approach post-Soviet highs in 2022, with near record production continuing through 2024, according to Russia’s finance ministry. Relaxed OPEC+ production curbs, plus the need for more gas to fill the Nord Stream 2 pipeline, are key drivers. While drilling (Fig. 4) is projected to increase by only 1.2% in 2021, that still amounts to more than 9,000 new wells drilled. Basically, Russian drilling is returning to 2019 levels in most parts of the country.

Other FSU countries. After taking a bit of a pause in 2020, the two top drillers, Kazakhstan and Azerbaijan, are set to resume a heavier drilling schedule this year. Several other countries are expected to have moderate drilling increases, as well. The dip in development drilling last year caused oil production in the region to fall 6.9%, to 2.784 MMbpd.Fig. 5. Romania’s oil production, exemplified by these pumpjacks on the Viforita asset, continues to decline at about a 6%-per-annum rate, according to dominant operator OMV Petrom. Image: OMV Petrom.

Romania. The country’s dominant operator, OMV Petrom, said that it will maintain oil production (Fig. 5) decline at around 6% y-o-y in Romania, excluding portfolio optimization, which “will continue to focus on the most profitable barrels.” The company also will transfer 40 marginal fields in southern Romania to Dacian Petroleum, with closing expected in second-half 2021. The firm plans to drill around 35 new wells and sidetracks and perform around 700 workovers this year, versus 63 new wells and sidetracks and 830 workovers in 2020.

AFRICA

Following an uptick in drilling in 2019 and 2020, wells drilled in the region are expected to decline 10.4% in 2021. Oil production last year was off 18.3%, to 6.470 MMbpd.

Egypt. Undertaking historic efforts to open up its economy, Egypt is splitting out as many as ten separate companies from its National Service Products Organization, structured as part of the defense ministry. The first of these efforts, to sell joint full ownership of Wataniya Petroleum, saw heavy interest from Middle Eastern energy majors. Drilling is expected to decline 1.6% percent in 2021.

Libya. Power struggles continue to threaten Libya’s oil industry recovery, with output leveling around 1.2 MMbpd in 2021. The transnational government currently in power is set to step down in December following new elections–if the vote takes place peacefully, it could reconcile rival factions and end hostilities in the country. World Oil projects a 7.5% increase in drilling during 2021.Fig. 6. Exemplified by Shell’s Bonga asset and FPSO, Nigerian oil production fell 11% last year. Hopefully, the newly passed Petroleum Industry Bill will encourage greater development work and rebuild production. Image: Shell.

Nigeria. The recently passed Petroleum Industry Bill, languishing since 2008, endeavors to create a stable environment for foreign investors, backed by a transparent and strengthened regulatory framework. With historic operators like Shell working to end their operations in Nigeria, as focus shifts to renewables, and Nigerian crude shipments struggle to find buyers in a frantic market, energy reforms can’t come soon enough. We predict that drilling in Nigeria will decline 39.1%. Nigerian oil production (Fig. 6) fell 11.4% last year, to 1.754 MMbpd.

MIDDLE EAST

A multi-year trend of reliable drilling growth in the Middle East appears to be nearing an end, as the region’s key players turn their attention to building economies less reliant on oil and gas revenue. The measured approach to meeting future global needs for renewable technology and hydrogen being taken means that, even if the fossil fuel mix changes, the Middle East will be the seat of energy technology leadership well into the future. As such, World Oil expects drilling activity in the Middle East to post a 20.8% decrease in 2021.Fig. 7. Saudi Aramco has kept some field facilities operating at less than full capacity, to help maintain OPEC production discipline and prop up oil prices. Image: Saudi Aramco.

Saudi Arabia. The kingdom finds itself on the horns of a dilemma, as it continues to guide OPEC through a period of production discipline (Fig. 7) to stabilize global oil prices. Stiff competition for Asian markets has required outsized attention, and region-specific discounting, to maintain reliable market share. Meanwhile, the government is working to monetize oil and gas assets, including the unprecedented move to invite foreign investment into a new, $110 billion Japura unconventional gas project. These funds will be used to help broaden Saudi Arabia’s energy mix to include renewables, and to stay ahead of Saudi Aramco’s $75 billion stock divided obligations. Drilling is projected to decline 34.1% in 2021.

Iraq. The Middle East’s second-largest oil producer is the subject of multinational attention, as OPEC members seek to ensure political stability in the conflict-prone nation. France has committed to maintaining a military presence in Iraq, while TotalEnergies has signed a multi-billion-dollar deal to help boost oil and gas output from Ratawi and other key fields. Iraq’s objective is to minimize reliance on Iranian imports to meet domestic energy needs, and raise oil output beyond the current 4.5-MMbpd average. We expect new drilling to decline 22.3% in 2021.

UAE-Abu Dhabi. Energy Minister Suhail Al-Mazrouei has taken an aggressive stance to grow the UAE’s oil output capacity, seeing an opportunity to win market share from other nations keen to end fossil fuel production. In the midst of a bruising battle with OPEC over production quotas that brought the long-term viability of the cartel into question, the UAE also took several steps to increase domestic and foreign investment in production capacity. Building a financial war chest through new lease agreements and IPOs of key state-owned businesses positions the UAE to pivot quickly, as global demand expands quickly to include hydrogen and LNG. As the dust settles from these financial maneuvers, new drilling is expected to decline 20.9% in 2021.

Oman. The largest oil producer in the Middle East outside of OPEC continues to quietly lead development drilling in the region. State-owned firms are working to raise as much as $3.5 billion of foreign debt, as part of Sultan Haitham Bin Tariq’s plan to leverage increased production to breathe life into Oman’s faltering economy. Total drilling volume will handily lead Middle East peers, despite a 7.8% decrease over the year prior.

Turkey. President Recep Tayyip Erdogan has made improving Turkey’s energy independence one of his top priorities, and efforts to increase domestic supply are paying off. In June, state energy company TPAO found 135 Bcm of gas with its Amasra-1 offshore well in the Black Sea, bringing the total amount of deposits discovered over the past year to 540 Bcm.Fig. 8. Chinese oil production ran counter to the global trend last year, increasing 1.7% to 3.895 MMbpd. Image: CNPC.

FAR EAST

China’s drilling programs typically set the pace for the Far East average overall, and this year is no exception. Building upon an already sprawling drilling program, China will help lead the region to a 9.8% increase in wells drilled for 2021.

China. Wary of its dependence on foreign imports, China has granted PetroChina a $37 billion capex budget for 2021, making it the world’s most active oil company. In addition to domestic development, China is also purchasing large shares of foreign energy projects, including a 49% stake in Aramco Oil Pipelines Co., and inking a 25-year oil development deal with Iran. In pursuit of its goal of energy independence, drilling in China will increase 10.5% this year. In spite of the Covid-19 pandemic, oil production (Fig. 8) managed to increase 1.7% last year, to 3.895 MMbpd.Fig. 9. Symbolized by the Ichthys LNG development in Western Australia state, Australia’s aspirations to lead the world in LNG exports are being endangered by poorly thought-out, draconian Covid restrictions. Image: INPEX.

SOUTH PACIFIC

Australia. Draconian Covid restrictions are warping Australia’s approach to its stated goals of increasing tax revenues and meeting domestic energy needs by becoming the world’s largest net exporter of LNG, Fig. 9. World Oil expects drilling to decline 7.4% in Australia during 2021. Oil production was down a minor 2.0%, to 353,597 bpd.

New Zealand. While the country continues to implement a ban on new offshore exploration, thanks to the Labour Party winning an outright victory in October 2020, development drilling is thriving, relatively speaking. After double-digit drilling in 2019, the number of new wells last year dropped to a handful. This year, we expect a return to a double-digit number of wells, and it is likely to exceed 2019’s level, with about 60% onshore and 40% offshore.


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Pipe Exchange implements data security systems and procedures to secure the information stored on Pipe Exchange computer servers. Such systems and procedures reduce the risk of security breaches, but they do not provide absolute security. Therefore, Pipe Exchange cannot guarantee that the Website and Services are immune to unauthorized access to the information stored therein and to other information security risks.

 

Our Commitment to Data Security. To prevent unauthorized access, maintain data accuracy and ensure the correct use of information, we have applied reasonable and appropriate physical, electronic and managerial procedures to safeguard and secure the information we collect online. We also limit access to personal data and confidential information on our systems to only those employees with a specific need to access this information. However, due to technological limitations and the risk of unlawful interceptions and accessing of transmissions and/or data, we cannot completely assure you, and you should not expect, that your personal information, and any other electronically communicated information, will be absolutely confidential.

The security of your personal information is important to us. When you enter sensitive financial information via our Website, the transmission of that information is encrypted using secure socket layer technology (SSL).

Please remember that you play a valuable part in security as well. To the extent you have created an account on our Website, your password to access our site, which you select at registration, should never be shared with anyone and should be changed frequently.  After you have finished using our site, you should log off and exit your browser so no unauthorized persons can use our site with your name and account information.

Information Retention and Access to Personal Information. We’ll retain information for as long as your account is active or as needed to provide you the Services, to comply with applicable law, resolve disputes, and to enforce our agreements.   If your personally identifiable information changes, or if you no longer desire to use and access our Services, you may correct, update, delete/deactivate your information by emailing Pipe Exchange via the contact information listed below. Before Pipe Exchange is able to provide you with any information or correct any inaccuracies, however, we may ask you to verify your identity and to provide other details to help us to respond to your request. But please note: (1) there might be some latency in deleting this information from our servers and back-up storage; (2) we will not delete anonymized data and may continue to use it as describe in this Privacy Policy; and (3) we may retain information if necessary to comply with our legal, tax or accounting obligations, resolve disputes, manage security risks, or enforce our agreements. Even if you cease your use of the Services, we may retain certain information in order to meet our obligations.

Under California Civil Code Sections 1798.83-1798.84, California residents are entitled to ask us for a notice identifying the categories of personal information which we share with our affiliates and/or third parties for marketing purposes, and providing contact information for such affiliates and/or third parties.  If you are a California resident and would like a copy of this notice, please submit a written request to: privacy@pipexch.com

International Transfer of Information Collected

We are a global company, with customers around the world and it is important to note that the Services, and the Website, may be operated via servers situated in the United States and elsewhere. If you are located outside of the United States, please be aware that any information which you supply to Pipe Exchange (including, without limitation, personal information (e.g., your name, phone number, email address, etc.) may be transferred to, processed, and used in the United States and elsewhere. To provide you with the Services, you irrevocably and unconditionally consent that we may store, use, process, transfer and transmit such information in accordance with this Privacy Policy in the United States and locations around the world – including those outside your country which may provide different rules, regulations, and protections regarding privacy. Information may also be stored locally on the devices used to access the Services, which may be mobile.

We have taken appropriate safeguards to ensure that your personal data will remain protected in accordance with this Privacy Policy, whether your personal data is within our control or has been entrusted to our third party service providers and partners.

Changes to this Privacy Policy

From time to time, Pipe Exchange may change the terms of this Privacy Policy. Changes will take effect once they are posted online and by accessing and/or using the Website or Services after we make any such changes to this Privacy Policy, you are deemed to have accepted such changes.  If you do not agree with any of the amended terms, you must avoid any further use of the Website and/or Services offered by Pipe Exchange.

 

Inquiries or Concerns?

You may contact Pipe Exchange by emailing us at privacy@pipexch.com and we will do our best to provide a prompt response to your question.

PIPE EXCHANGE TERMS OF USE

Last updated: August 2019

Welcome to https://pipexch.com/Pipe Exchange (the “Website”). The Website is owned and operated by Pipe Exchange LLCPipe ExchangePipe Exchange including its related companies, affiliates and subsidiaries (collectively “Pipe Exchange,” “we,” “us,” “our”). We make the Website available to you, subject to the following Terms of Use (these “Terms of Use”). PLEASE READ THE FOLLOWING TERMS OF USE CAREFULLY BEFORE USING THE WEBSITE. By using the Website, you agree to these Terms of Use and agree they create a legally binding agreement between you and Pipe Exchange. If you do not agree to these Terms of Use, you may not use the Website. These Terms of Use are effective unless and until terminated by Pipe Exchange.

Minors are not authorized to access or use the Website for any purpose.

CHANGES TO TERMS OF USE

Pipe Exchange reserves the right, at any time, to modify, amend, alter or update these Terms of Use. These changes will be effective as of the date we post the revised version. By continuing to use the Website following such modifications, amendments, alterations or updates, you agree to be bound by such modifications, amendments, alterations or updates. Therefore, you should periodically visit this page to review our most current Terms of Use.

You may access the current version of these Terms of Use at any time by clicking on the link marked “Terms of Use” at the bottom of each page of the Website.

PRIVACY POLICY

In the course of your use of the Website, you may be asked to provide certain personalized information to us (such information referred to hereinafter as “User Information”).  Our information collection and use policies with respect to the privacy of such User Information are set forth in the Website’s Privacy Policy which is incorporated herein by reference for all purposes.  You acknowledge and agree that you are solely responsible for the accuracy and content of User Information, and you agree to keep it up to date. 

INTELLECTUAL PROPERTY RIGHTS

Pipe Exchange respects the intellectual property rights of others. As between you and Pipe Exchange, and except any User Information which you provide, all rights, title and interests in the Website, including all the content (including, for example, audio, photographs, illustrations, graphics, other visuals, video, copy, software, etc.), code, data and materials thereon, the look and feel, design and organization of the Website, and the compilation of the content, code, data and materials on the Website, including but not limited to any copyrights, trademark rights, patent rights, database rights, moral rights, sui generis rights and other intellectual property and proprietary rights therein (collectively the “Content”) are owned by Pipe Exchange or by third parties who have licensed or provided their Content to us. The Website is protected under Trademarks (as defined below), copyright, patent, trade secret and other intellectual property rights laws, and your use of the Website does not grant to you ownership of any Content you may access on the Website. You are prohibited from using the Website to infringe or violate any intellectual property rights. Pipe Exchange may terminate your right to access the Website if it believes you are using the Website in a manner that infringes the copyright, trademark, patent or other intellectual property rights of another.

We may investigate occurrences that may involve violations of the security of the Services or of the law and we may involve, and cooperate with, law enforcement authorities in prosecuting users who are involved in such violations.

The trademarks, logos, service marks and trade names (collectively the “Trademarks”) displayed on the Website or on content available through the Website are registered and unregistered Trademarks of ours and others and may not be used unless authorized by the trademark owner.  All Trademarks not owned by us that appear on the Website or on or through the Website’s services, if any, are the property of their respective owners.  Nothing contained on the Website should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any Trademark displayed on the Website without our written permission or that of the third-party rights holder.  Your misuse of the Trademarks displayed on the Website is strictly prohibited.  Pipe Exchange will aggressively enforce its Trademark rights to the fullest extent of the law, including the seeking of criminal prosecution.

PERSONAL USE ONLY

The Website and the Content are intended for your personal use.  You may access and view the content on the Website via your computer or other internet compatible device, and make single copies or prints of the content on the Website for your personal, internal use only.   The Website and the services offered on or through the Website, including Pipe Exchange’s e-publication and any other content and materials thereon, are only for your personal, non-commercial use. Except as otherwise provided on the Website, you may not modify, copy, distribute, transmit, display, perform, reproduce, publish, license, sell, create derivative works from, transfer, or sell any information, software, products or services obtained from the Website. Use of the Website to sell a product or service, or to increase traffic to your website for commercial reasons, such as advertising sales is expressly forbidden.

PROHIBITED USE

Any commercial distribution, publishing or exploitation of the Website, or any content, code, data or materials on the Website, is strictly prohibited unless you have received the express prior permission of Pipe Exchange or the applicable rights holder.  You may not otherwise download, display, copy, reproduce, distribute, modify, perform, transfer, create derivative works from, sell or otherwise exploit any content, code, data or materials on the Website.  If you make other use of the Website, or the content, code, data or materials thereon, except as otherwise provided above, you may violate copyright and other laws of the United States, other countries, as well as applicable state laws and may be subject to liability for such unauthorized use.  Pipe Exchange will aggressively enforce its intellectual property rights to the fullest extent of the law, including the seeking of criminal prosecution.

SECURITY

You are prohibited from violating, or attempting to violate the security of the Website. Any such violations may result in criminal and civil liabilities to you.  You warrant and agree that, while using the Website and the various services and features offered on or through the Website, you shall not: (a) impersonate any person or entity or misrepresent your affiliation with any other person or entity; (b) insert your own or a third party’s advertising, branding or other promotional content into any of the Website’s content, materials or services, or use, redistribute, republish or exploit such content or service for any further commercial or promotional purposes or take any action that would constitute or could be interpreted as an endorsement or sponsorship by Pipe Exchange of any third party site, content, information or other materials, or in any manner that would violate the terms and conditions of any such third party sites; (c) attempt to probe, scan, or test the vulnerability of any system or network; or (d) attempt to gain unauthorized access to data not intended for you and/or other computer systems through the Website.  You shall not: (i) engage in spidering, “screen scraping,” “database scraping,” harvesting of e-mail addresses, wireless addresses or other contact or personal information, or any other automatic means of accessing, logging-in or registering on the Website or for any services or features offered on or through the Website, or obtaining lists of users or obtaining or accessing other information or features on, from or through the Website or the services offered on or through the Website, including, without limitation, any information residing on any server or database connected to the Website or any services offered on or through the Website; (ii) obtain or attempt to obtain unauthorized access to computer systems, materials, information or any services made available on or through the Website through any means; (iii) use the Website or the services made available on or through the Website in any manner with the intent to interrupt, damage, disable, overburden, or impair the Website or such services, including, without limitation, sending mass unsolicited messages or “flooding,” “spamming,” or “crashing” any systems; (iv) use the Website or the Website’s services or features in violation of Pipe Exchange’s or any third party’s intellectual property or other proprietary or legal rights; or (v) use the Website or the Website’s services in violation of any applicable law.  You further agree that you may not attempt (or encourage or support anyone else’s attempt) to circumvent, reverse engineer, decrypt, or otherwise alter or interfere with the Website or the Website’s services, or any content thereof, or make unauthorized use thereof.  You agree that you will not use the Website in any manner that could damage, disable, overburden, or impair the Website or interfere with any other party’s use and enjoyment of the Website. You may not obtain or attempt to obtain any materials or information through any means not intentionally made publicly available or provided for through the Website. Pipe Exchange will investigate any alleged violations and will cooperate with law enforcement agencies in their investigations.

THIRD-PARTY CONTENT

Some of the information and material available through the Website are provided to Pipe Exchange by third parties (“Third-Party Material”). In some instances, the source of the Third-Party Material is identified. Third-Party Material is provided for your convenience only and Pipe Exchange does not endorse these materials or the parties who supply them to us. Pipe Exchange does not warrant or represent that these Third-Party Materials are current, accurate or reliable.

COPYRIGHT AGENT

We respect the intellectual property rights of others, and require that the people who use the Website do the same.  If you believe that your work has been copied in a way that constitutes copyright infringement, please forward the following information to Pipe Exchange’s Copyright Agent, designated as such pursuant to the Digital Millennium Copyright Act, 17 U.S.C. § 512(c)(2), named below:

  • Your address, telephone number, and email address;
  • A description of the copyrighted work that you claim has been infringed;
  • A description of where the alleged infringing material is located;
  • A statement by you that you have a good faith belief that the disputed use is not authorized by the copyright owner, its agent, or the law;
  • An electronic or physical signature of the person authorized to act on behalf of the owner of the copyright interest; and
  • A statement by you, made under penalty of perjury, that the above information in your Notice is accurate and that you are the copyright owner or authorized to act on the copyright owner’s behalf.
  • For all email submissions please include the subject line: DMCA Takedown Request.

 

Pipe Exchange has adopted a policy of terminating, in appropriate circumstances, accounts of users of the services or the Website who are deemed to have repeatedly uploaded content that infringes the intellectual property rights of others.

 

Copyright Agent:

Pipe Exchange Legal

c/o Pipe Exchange LLC

14025 West Road.
Suite #100
Houston, TX 77041

Phone: + (713) 934-9480

Email: dmca@pipexch.com

DISCLAIMER OF WARRANTIES

THE WEBSITE AND ITS CONTENT ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER. PIPE EXCHANGE, TO THE FULLEST EXTENT PERMITTED BY LAW, DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTY OF MERCHANTABILITY, NON-INFRINGEMENT OF THIRD PARTIES RIGHTS, AND THE WARRANTY OF FITNESS FOR PARTICULAR PURPOSE. PIPE EXCHANGE MAKES NO WARRANTIES ABOUT THE ACCURACY, RELIABILITY, COMPLETENESS, OR TIMELINESS OF THE MATERIAL, SERVICES, SOFTWARE, TEXT, GRAPHICS, AND LINKS FOUND OR CONTAINED ON THE WEBSITE. PIPE EXCHANGE DOES NOT WARRANT THAT THE WEBSITE, THE CONTENT, OR ITS SERVERS ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. YOU UNDERSTAND AND AGREE THAT YOU OBTAIN MATERIAL THROUGH THE USE OF THE WEBSITE AT YOUR OWN DISCRETION AND RISK AND THAT YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGES TO YOUR COMPUTER SYSTEM OR LOSS OF DATA THAT RESULTS.

ALL MATERIAL CONTAINED IN THE WEBSITE IS FOR GENERAL INFORMATION ONLY, HAS NOT BEEN INDEPENDENTLY VERIFIED, HAS NOT BEEN RECOMMENDED BY ANY FEDERAL OR STATE REGULATORY AUTHORITY AND MAY CONTAIN ERRORS OR OMISSIONS OF MATERIAL INFORMATION. THE MATERIAL AND INFORMATION CONTAINED ON THE WEBSITE SHOULD NOT, THEREFORE, BE USED OR RELIED UPON FOR ANY SPECIFIC REASON OR APPLICATION WITHOUT INDEPENDENT COMPETENT PROFESSIONAL EXAMINATION AND VERIFICATION OF ITS ACCURACY, COMPLETENESS, SUITABILITY AND APPLICABILITY. ANYONE MAKING USE OF THE MATERIAL DOES SO AT HIS/HER/ITS OWN SOLE AND EXCLUSIVE RISK AND ASSUMES ANY AND ALL ACTUAL OR POTENTIAL DAMAGE OR LIABILITY RESULTING FROM SUCH USE.

LIMITATION OF LIABILITY

IN NO EVENT SHALL PIPE EXCHANGE BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, LOST PROFITS, OR DAMAGES RESULTING FROM LOST DATA OR BUSINESS INTERRUPTION) RESULTING FROM THE USE OR INABILITY TO USE MATERIAL ON THE WEBSITE OR SITES LINKED TO THE WEBSITE, WHETHER BASED ON WARRANTY, CONTRACT, TORT, OR ANY OTHER LEGAL THEORY, AND WHETHER OR NOT PIPE EXCHANGE IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

TERMINATION

Pipe Exchange may terminate, change, suspend or discontinue any aspect of the Website or the Website’s services at any time.  Pipe Exchange may restrict, suspend or terminate your access to the Website and/or its services if we believe you are in breach of our terms and conditions or applicable law, or for any other reason without notice or liability.  Pipe Exchange maintains a policy that provides for the termination in appropriate circumstances of the Website use privileges of users who are repeat infringers of intellectual property rights.

USER’S REMEDY

If you are dissatisfied with any portion of the Website or with any of these Terms of Use, your sole and exclusive remedy is to discontinue using the Website.

GOVERNING LAW AND VENUE

These Terms of Use and the relationship between you and Pipe Exchange shall be governed by the laws of the United States and the State of Florida without regard to its conflict of law provisions. You hereby irrevocably submit and consent to the personal and exclusive jurisdiction of the courts located within Miami-Dade County, Florida and agree that any cause of action that may arise under these Terms of Use and all disputes arising out of or relating to the use of the Website shall be commenced and be heard in the appropriate court in Miami-Dade County, Florida. The failure of Pipe Exchange to exercise or enforce any right or provision of these Terms of Use shall not constitute a waiver of such right or provision. If any provision of these Terms of Use is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties’ intentions as reflected in the provision, and the other provisions of these Terms of Use remain in full force and effect. 

QUESTIONS ABOUT TERMS OF USE

If you have any questions regarding these Terms of Use, please either:

Send an email to sales@pipexch.com

Write to Pipe Exchange at the following address:

14025 West Road

Suite 100

Houston, TX 77041

 

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