Oil prices driving companies to invest in new Barnett Shale-like plays ///

Oil prices are again one of the hottest topics in our industry today. You can quote me from last years’ article “We expect oil prices to maintain a $50-$60 per barrel of oil in 2007 and the near future.” Obviously the “near future” is less than one year. With oil prices nearing and surpassing the $100 per barrel mark, everyone is seeing an increase of activity in all aspects of the oil industry. Fields that were below their economic limit are now once again economically developable. Plays that would never have been developed in the past are now being fiercely developed. Companies and individuals that were not part of our industry in the previous years are seeing opportunities and deciding that they too need to be “oil men” and try and get a part of the action. A lot of the new players are investing in the Barnett Shale...

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