Price questions cool international drilling--

Journal Article · Mon Jan 29 04:00:00 EST 1990 · Oil and Gas Journal; (USA)

OSTI ID:7180438

International drilling will increase in 1990 as activity catches up with last year's crude oil price gains. But the increase will be modest because of lingering price uncertainty. This article projects the average active rig count outside the U.S. and Canada at 940-950, compared with an estimated 923 in 1989. Last year's tally was down from 1,023 in 1988, a year of price weakness. Some drilling increase seems inevitable after last year's price strength. Oil companies are raising exploration-production budgets for 1990, according to a Salomon Bros. Inc. survey. More than 200 companies covered in the survey reported plans for a total upstream spending increase of 10.5% with non-U.S. spending due the greatest growth.

• OSTI ID: 7180438
• Journal Information: Oil and Gas Journal; (USA), Journal Name: Oil and Gas Journal; (USA) Vol. 88:5; ISSN OIGJA; ISSN 0030-1388
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
03 NATURAL GAS
030600 -- Natural Gas-- Economic
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
294000 -- Energy Planning & Policy-- Fossil Fuels
CANADA
DRILLING
ENERGY SOURCES
FLUIDS
FORECASTING
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
INTERNATIONAL ORGANIZATIONS
NATURAL GAS
NATURAL GAS WELLS
NORTH AMERICA
OIL WELLS
OIL-EXPORTING COUNTRIES
OPEC
PETROLEUM
PRICES
SEASONAL VARIATIONS
SUPPLY AND DEMAND
USA
VARIATIONS
WELL DRILLING
WELLS