US oil, gas industry seen entering long-term recovery

Natural gas prices in the US will recover sharply this year. Next year promises to be a very good year for the number of drilling rigs working and for the use of coiled tubing services. Oil and gas supply and demand fundamentals in 2003 should yield replacement-cost pricing for rigs.These are all early signs of a long-term recovery beginning for the oil and gas industry.That was the message delivered by J. Marshall Adkins, managing director of energy research and senior oil field service equity analyst for Raymond James & Associates Inc. (RJA), St. Petersburg, Fla., in presentations at the Society of Petroleum Engineers and International Coiled Tubing Association’s coiled tubing con...

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