Operators plan to step up U. S. exploration, development work
The author discusses what one can expect in oil and gas prices this year. It is expected that drilling will increase on the strength of firm demand and moderate advances in oil and gas prices. However, the increase will fall short of halting the slide in Lower 48 oil production and reserves. The outlook for gas is brighter as supply and demand move toward a balance, bringing the end of a deliverability surplus within sight. The author discusses Salomon Brothers' prediction that there will be no oil price collapse this year. He also looks at how a couple of companies view the forecasts. Meanwhile gas supply will not be a problem. As supply and demand move into balance, added volumes will be available from sources such as infill drilling, reserves not currently connected to pipelines, and increased imports from Canada. At the same time, the Commerce Department is studying the effect of oil imports on natural security.
- OSTI ID:
- 5075316
- Journal Information:
- Oil Gas J.; (United States), Vol. 86:11
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
03 NATURAL GAS
29 ENERGY PLANNING
POLICY AND ECONOMY
NATURAL GAS
IMPORTS
PRICES
RESERVES
PETROLEUM
USA
NATURAL GAS INDUSTRY
PETROLEUM INDUSTRY
CANADA
EXPLORATION
FORECASTING
PIPELINES
TRADE
WELL DRILLING
DRILLING
ENERGY SOURCES
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
INDUSTRY
NORTH AMERICA
RESOURCES
020700* - Petroleum- Economics
Industrial
& Business Aspects
030600 - Natural Gas- Economic
Industrial
& Business Aspects
020200 - Petroleum- Reserves
Geology
& Exploration
030200 - Natural Gas- Reserves
Geology
& Exploration
294002 - Energy Planning & Policy- Petroleum
294003 - Energy Planning & Policy- Natural Gas