WorldOil

FORECASTS

2010 OIL & GAS INDUSTRY FORECAST

Data: Active Gulf of Mexico operators and wells drilled in 2009 table Active Gulf of Mexico operators and wells drilled in 2009  Data: Average number of US rotary rigs in operation table Average number of US rotary rigs in operation Data: Average rigs and gas/oil drilling split graph Average rigs and gas/oil drilling split Data: Estimated US gas producing wells graph Estimated US gas producing wells Data: Estimated US oil producing wells graph Estimated US oil producing wells Data: Estimated US wells producing gas at the end of 2009 table Estimated US wells producing gas at the end of 2009 Data: Estimated US wells producing oil at the end of 2009 table Estimated US wells producing oil at the end of 2009 Data: Forecast of 2010 drilling outside the US table Forecast of 2010 drilling outside the US Data: Forecast of 2010 US wells and footage to be drilled table Forecast of 2010 US wells and footage to be drilled Data: US drilling 1979-2009 graph US drilling 1979-2009 Data: US monthly rig count graph US monthly rig count Data: What 14 US major drillers1 plan for 2010 table What 14 US major drillers1 plan for 2010 Data: What 150 US independents plan for 2010 table What 150 US independents plan for 2010 Data: World crude-condensate production by countries, 2009 and 2008 table World crude/condensate production by countries, 2009 and 2008 Related Articles from World Oil Magazine Canadian producers put dismal 2009 behind them On the heels of the toughest year for the Canadian oilpatch this decade, producers are hoping for better times ahead. Despite legislative successes, increased federal regulation threatens US oil and gas Industry lobbyists blocked provisions that would have hampered commercial hedging, and cap-and-trade may be DOA. But recent decisions by the EPA and the Interior Department could still make 2010 a rough year for E&P. Few US oil wells gained in 2009 Vol. 231 No. 2    OUTLOOK 2010 PRODUCING OIL WELLS Few US oil wells gained in 2009 The total number of producing oil wells in the US stayed relatively flat over 2009 in the low-price environment of the first half of the year and the partial recovery of the second Global E&P capital expenditures to increase 11% E&P expenditures in the US are indicated to rise by 12%, a somewhat surprising magnitude given weak natural gas fundamentals. Global E&P weathers the storm Outside the US, Canadian drilling fell by half in 2009, but other countries saw a decrease of less than 500 wells. For 2010, expect an increase of 6.7% in wells drilled. Increasing supply options and stagnant demand spell low gas prices Fuel switching to gas for electrical generation will try to keep the market afloat as more shale gas and LNG come onstream. New decade, new challenges: The harsh reality of unsustainable oil markets And what the fundamentals say about 2009. Rig count to see a slow, steady recovery Rig count to see a slow, steady recovery Signs of better times ahead U.S. Drilling US gas wells see over 5% growth Producing Gas Wells

2009 Presentation

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February 2009

2008 - A wild ride for oil markets

And what the fundamentals say about 2009.

A gloomy 2009 begins in Canada

All one hears is talk of low prices, slashed budgets and depressing economic tidings across the globe.

Editorial comment

Crystal balls

Exploration discoveries

Africa. Heritage Oil made a large oil discovery with its Giraffe-1 exploration well drilled on Block 1 in the Lake Albert region of Uganda.

Extensive job planning aids in rig-assist HPHT cleanout

The operation used a hydraulic workover unit in three wells in the UK North Sea.

Global drilling and production: Not as bad as they seem

The hardest-hit areas are mostly where NOCs are not, such as the US and Canada. Many NOCs are cash flush, but some IOCs and independents need credit. 

Global E&P expenditures to contract 12%

The US will see the sharpest decline, dropping 26% to $79 billion. 

Groundwater abatement strategy for a produced water impact site

Deploying a small, inexpensive, energy-efficient treatment system for contaminated groundwater in a remote area presented many challenges for the operator.

Increasing role of unconventional gas could keep rigs active even during downturn

Outlook 2009 North American Gas

It’s not as bad as it seems

Now that the boom has run its inevitable course and gone bust, we asked major and independent operators what they did in 2008, and what their plans were for 2009. Predicting activity levels depends on prices-that’s nothing new.

Oil and gas production continues sideways

Outlook 2009 U.S. Production

R&D efforts pursued for HPHT deepwater drilling conditions

The next generation of High-Pressure, High-Temperature (HPHT) well designs forges ahead with advancements in material testing, heavy load handling and technology.

Uncertain supply and demand outlook for LNG

As new liquefaction capacity clashes with stagnant LNG consumption, a short-term glut is imminent. The industry could get a boost, though, from Europe’s efforts to limit dependency on Russian gas.

US gas well count flattens

U.S. Producing Gas Wells

US oil well count gains 25,000 wells

2009 Producing Oil Wells

US proved reserves increase in all petroleum categories

2009 U.S. Reserves

US rig count increases in 2008, but the trend won’t continue in 2009

2009 U.S. Rotary Rigs

January 2009

Brazil’s Santos Basin: An emerging giant

Deepwater Statistical Report