Would you like to start a free subscription?
Remember me | Forgot password
For full content view: Log in Now!
Unbridled enthusiasm has given way to cautious attitudes and some pessimism within the global upstream industry over the course of this year. Compared to the bullish statements and optimistic forecasts made 12 months ago, many industry players and observers are now digging in for an extended period of uncertainty and reduced activity.
The single largest factor behind the deterioration of activity levels and expectations is the steady erosion of oil and gas prices throughout 2001. From a high of roughly $30/bbl in fourth-quarter 2000, average world crude prices have declined to only about $20/bbl in fourth-quarter 2001. Meanwhile, average U.S. natural gas prices at the wellhead have fallen from a high of more than $8/Mcf last January, to only about $3/Mcf at the end of third-quarter 2001. Because such a high proportion of U.S. and Canadian rig activity was tied to drilling for gas, the drop in gas prices has been particularly harmful.
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.
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:
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 CustomerService@worldoil.com.
World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.
Wichita Falls, TX - April 22-23
Bucharest - April 28-30
Houston, TX - May 5-8
All material subject to strictly enforced copyright laws.
© 2014 World Oil. © 2014 Gulf Publishing Company.