September 2002
Columns

International

Upstream activity remains disconnected from prices. When our readers and industry friends ask us where E&P activity levels are headed, we try to give them a short-term forecast based on supply-and-demand levels, and oil and gas price trends. Sometimes, we factor in overriding political issues or major news stories that rule the day. Occasionally, we run into periods where there are no good reasons for activity to be up or down. Right now is one of those strange periods. When was the last time that West Texas Intermediate and natural gas spot prices in the U.S. stayed consistently at or above $25/bbl and $3/Mcf, yet most E&P stats remained in the doldrums? Ah, you can’t answer that one, can you good reader, because these are not normal, reasonable times. What is underway at present is a distinct "disconnect" between price levels and industry behavior.

Please Log IN view this article.

Not yet a subscriber? For just $149/year, you can claim unlimited access to World Oil's content.*

Each subscription includes: 

  • Unlimited access to all content on WorldOil.com
  • Exclusive drilling forecast data, by state, country and region
  • State-by-state results from the survey of U.S. operators
  • Updated producing oil and gas well figures, by state
  • Exclusive access to World Oil's conference presentations
  • Proprietary data tables covering casing, tubing, drill bits and fluids
  • Exclusive World Oil maps (published three times per year)
  • Daily coverage of industry news and developments\
  • Industry whitepapers, webcasts, videos and supplements.

Start your subscription today! 

 

 

*Access will be granted the next business day.
Connect with World Oil
Connect with World Oil, the upstream industry's most trusted source of forecast data, industry trends, and insights into operational and technological advances.