Drilling expenditures: doldrums, then growth

Journal Article · Wed Jul 24 00:00:00 EDT 1985 · Energy Viewpoint; (United States)

OSTI ID:5504160

Krupp, H W; Spadine, F R

Projections of US expenditures for oil and gas drilling indicate the current decline will continue another 10 to 15%. If OPEC is able to maintain the existing oil price structure, 1986 expenditures could recover the $27 billion level of 1984, but it is more likely that further erosion of prices will drive spending down another $3 per barrel to $21 billion. The forecast indicates a possible rapid climb starting at the end of the decade and reaching $60 to $65 billion by the mid-1990s as long as oil prices do not collapse, but the $27 billion level of the early 1980s will not be regained. Natural gas drilling will account for most of the increase, rising from 45% to 55% of total expenditures. 3 figures, 3 tables.

• OSTI ID: 5504160
• Journal Information: Energy Viewpoint; (United States), Vol. 4:2
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
03 NATURAL GAS
29 ENERGY PLANNING
POLICY AND ECONOMY
NATURAL GAS WELLS
WELL DRILLING
OIL WELLS
EXPENDITURES
FORECASTING
ECONOMIC ANALYSIS
ECONOMIC ELASTICITY
PRICES
DRILLING
ECONOMICS
WELLS
020300* - Petroleum- Drilling & Production
030300 - Natural Gas- Drilling
Production
& Processing
294000 - Energy Planning & Policy- Fossil Fuels