What industry leaders expect in 2013

Compliled and edited by KURT S. ABRAHAM, Executive Editor

Sustained, relatively strong oil prices, a high level of shale oil activity in the U.S., and major projects in several other regions continue to drive a healthy worldwide E&P industry. While reductions in gas-directed wells have cause rig counts to hit a plateau and even decrease in some parts of the U.S., the core of activity, the exploitation of shale oil plays, remains strong. Meanwhile, international drilling has pushed to a level moderately higher than where it was a year ago. Assuming that no major, unexpected economic crisis upsets the momentum, the global upstream industry can look forward to another productive, profitable year in 2013. To be sure, there are some challenges, from unrest in the Middle East to an uncertain regulatory environment in the U.S. Reflecting on these factors and others, the members of World Oil’s Editorial Advisory Board—representing a broad spectrum of E&P expertise—present their analysis and predictions for 2013 to an expectant industry.