Press Esc to close



For full content view: Log in Now!

  • North American drilling: Price volatility is breathtaking

    World Oil staff, R. Curran and S. Galina Hidalgo

    This midyear course correction gives us a chance to hedge the predictions we made at the beginning of the year. There have been times when we wished we would have stayed with the earlier forecast. To say that prices have been volatile is an extreme understatement. Five percent price swings in a day are now common, and 10% in a week has happened too. Since the data from this midyear correction was gathered during the extreme highs in oil and gas prices during June and early July ($145 and $13, respectively), we tend to think that the large percentage increases that are predicted for the second half by independents and majors (33% and 17%, see tables) are enthusiasm-based. So, we’ve tempered their zeal. Although there is more revenue being generated by oil for the first time in many years, Baker Hughes still puts drilling at 4-to-1, gas-to-oil.

This area of the site is restricted. In order to gain access, please either Log In, or subscribe to World Oil.

Two options are available to you for creating an account.

1. Get a Free Trial Subscription to World Oil Magazine and gain immediate access to select content on World Oil Online.

Start a Free Trial Subscription and gain immediate access to the complete current issue of World Oil Magazine. Plus, you’ll receive 3 upcoming issues of World Oil Magazine in print or digital format.* You also receive access to the Energy Events Calendar, Industry Statistics and WO Wire’s news and industry coverage.

Free Trial

2. Purchase a subscription to World Oil magazine and gain immediate and complete access to World Oil Online. As a Total Access subscriber you will have access to all areas of the site available to registered users and free subscribers as well as having access to such premium content areas as:

  • The Archives section containing over ten years of complete magazine archives,
  • The WO DataHub's engineering tables and directories,
  • The World Oil annual forecasts, including past predictions,
  • Select World Oil technical handbooks,
  • And much, much more!


Physical copies of this content may be available for purchase. Visit the Reprints & Back Issues section.

If you are already a paid subscriber and do not have access, please email



Engineering Data Tables

World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.


2013 Fracturing Technology

2013 Fracturing Technology