Would you like to start a free subscription?
Remember me | Forgot password
For full content view: Log in Now!
“Flush with cash” is how one E&P analyst described the condition of oil and gas companies this year, and high prices have certainly helped revenues. Although futures oil prices have cooled down to between $55 and $58/bbl for West Texas Intermediate (as of mid-November), the average futures price from January through September was $68.22/bbl. Furthermore, average first purchase price for US domestic crude was $61.92/bbl through August.
Thus, operators have enjoyed very good revenues for most of 2006. Even at recent prices, earnings off oil production are quite attractive. On the natural gas side, there is concern about a short-term oversupply, at least in North America. Last winter was a mild season, and natural gas storage levels piled up, accordingly. As of Nov. 10, 2006, working gas in storage in the US was 3.45 Tcf, up 7.4% from the five-year average inventory level.
Prices have responded negatively to the situation.
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.
Houston, TX - November 4-5
All material subject to strictly enforced copyright laws.
© 2014 World Oil. © 2014 Gulf Publishing Company.