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Forecasts & Research

World Oil magazineResearch

These articles and their accompanying forecast tables were originally published in World Oil Magazine. In addition, there are links to Quest Offshore Development forecast data for each month.

February 2006

United States: E&P spending: Worldwide oil industry spending to increase 14.1%
United States: US drilling: All we need are more rigs and crews
United States: US rotary rigs: 2005 makes it a hat trick
International: Worldwide drilling: Global drilling is at a 20-year high
North American Gas Outlook: Gas sector moves to new heights: North American gas keeps repeating themes: tight supplies, unconventional gas; LNG, an arctic pipeline and robust unrelenting E&P.

August 2005

It’s time to use the “B” word: Demand is remarkably resilient to high prices that are here to stay. This combination will spur a “boom” in North American E&P activity

February 2005

United States: 2005 E&P spending: Spending boost to continue in 2005
United States: US drilling: Drilling activity surge will lead to record year
International: Worldwide drilling: Buoyed by high prices, drilling rates are feverish
International: Global offshore drilling: More drilling offshore this year
North American Gas Outlook: Taking the High Road: Supply and demand are remarkably volatile, yet remain within a consistent range despite record drilling. Meanwhile, traders keep gaming and playing the game with gas prices.

September 2004

International Outlook: World Trends – Prices boost global numbers: An insatiable demand for oil and gas is reflected in our annual compilation of global drilling, production and reserve data.

August 2004

Strong activity levels continue: High prices and strong gas demand are pushing drilling totals to record levels in Canada and Mexico, while straining capacity in the US.

February 2004

United States: 2004 E&P spending: Higher oil/gas prices boost spending
United States: U.S. drilling: Drilling levels will continue upward
United States: U.S. rotary rigs: A good year should get even better
International: Worldwide drilling: Heightened activity will continue in some area
International: Global offshore drilling: US Gulf and Far East pace activity
Natural Gas: North American Outlook: Natural gas in North America: Teetering

August 2003

North America: Drilling activity will soar: Strong oil and gas prices finally produced results during the first half. US and Canadian operators will boost gas drilling further to exploit higher prices

February 2003

United States: 2003 E&P spending: Unknown factors make plans tentative
United States: U.S. drilling: Uncertainty will keep drilling increase moderate
United States: U.S. rotary rigs: Mediocre, but steady – almost too steady
International: Worldwide drilling: Some regions thrive despite instability
International: Global offshore drilling: Offshore investments looking better
Natural Gas: North American Outlook: Natural gas in North America: No one said it would be easy

August 2002

World Trends: Industry pace should quicken: Global upstream activity to overcome economic slowdown
North America: Drilling will be steady to up: Canada should see good drilling; Mexico and the U.S. will be flat

February 2002

United States: 2002 E&P spending: Annual survey signals spending plateau
United States: U.S. drilling: Recovery should come in second half
United States: U.S. rotary rigs: Optimism goes south at year-end
International: Worldwide drilling: Status quo persists outside U.S.
International: Offshore drilling: International activity increases
Natural Gas: North American Outlook: Natural gas in North America: All it takes is time and money: Slow gas-well drilling due to low prices overshadows the facts that demand will increase and North American resources can support more drilling

August 2001

World Trends: OPEC retains control:
North America: United States:

February 2001

United States: 2001 E&P spending: High gas prices stimulate activity
United States: U.S. drilling: Strong E&P growth continues
United States: U.S. rotary rigs: Coming back after 16 years
International: Worldwide drilling: High prices breed surge in activity
International: Offshore drilling: U.S. Gulf paces increase
Natural Gas: North American Outlook: There’s work to be done to meet increasing demand: The U.S. market is growing and drilling is up, but major new supplies are needed to maintain the reserve life index and minimize import increases

August 2000

World Trends: Price does matter:
North America: United States:
Quest Offshore Development forecasts for this month

February 2000

United States: U.S. drilling: Getting back to "normal"
International: Worldwide drilling: Pendulum finally swings to positive

August 1999

World Trends: Some positive signs are emerging
North America: United States

February 1999

United States: U.S. drilling: A year of wait-and-see

August 1998

World Trends: Reality reclaims the E&P market

February 1998

Outlook '98: Strong Activity Continues:

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