February 19, 2008
Most 2008 CAPEX Budgets Based on $68 Oil
When New York-based Lehman Brothers recently polled 344 oil and gas companies, including service companies, they found that most companies expect oil prices will be higher in 2008, view seismic as the most important upstream technology, and see drilling as the preferred method to growing reserves.
While most companies projected their 2008 spending budgets based on $68 oil, they expect oil prices will be much higher after 2010.
-- Jeannie Stell
| PREVIOUS ARTICLES |
February 15, 2008:
Operating costs jump in the Permian Basin Between mid-2006 and mid-2007, operating costs shot precipitously upward in the Permian Basin. Ziff Energy Group recently completed a benchmarking study in the West Texas and southeastern New Mexico oil-producing ...more
February 12, 2008:
CERA: Global 4.5% Decline Rate Means No Near-Term Peak The aggregate global decline rate of world oil production is 4.5%, rather than the 8% cited in other studies, according to energy-research and -consulting firm Cambridge Energy Research Associates. Using ...more
February 6, 2008:
Rockies Express to Have Minimal Impact on Upstream Stocks
Although highly touted, Rockies Express (Rex)—the new pipeline that will carry 1.5 billion cubic feet per day of gas from the Rockies to the Midcontinent and by mid-2009 to markets ...more
February 5, 2008:
Energy Stocks Finish 2007 up 17.1%; Consolidation Ahead Make it six. “Energy investors worldwide reveled in a sixth straight year of prosperity (in 2007) and, while the larger stocks continued to post better returns than the smaller companies, ...more
February 1, 2008:
Producers Expect to Spend 3.5% More in 2008 on Capex
U.S. producers will increase their domestic spending from $78 billion in 2007 to $81 billion in 2008 (up 3.5%), according New York-based Lehman Brothers’ annual spending survey. Most of the ...more
January 31, 2008:
Former Bolivian President Warms of Shift to the Left Bolivia is a country that is experiencing an unprecedented good economy while at the same time fending off foreign interests that could railroad the progress being made, according to former ...more
January 30, 2008:
Why Have Oil Prices Surged Since September? Competition for upstream MLP assets is destined to alter the buying model for those assets as more MLPs go public, according to Claire Farley, co-president of M&A advisor Jefferies Randall ...more
January 29, 2008:
Canadian Oil Sands: Last Big Play in a Stable Nation Canada’s oil sands represent the “last big oil play in a politically stable nation,” and offer a “tremendous opportunity to boost reserve profiles” in North America, says Barry Munro, managing ...more
|
