UBS: Operators to boost US, Canadian upstream spending

Oil and natural gas companies expect to increase US and Canadian drilling and spending plans, but spending on workovers and seismic services likely will remain flat, UBS Warburg LLC said in its monthly PatchWork Survey.However, workover plans maintain strong momentum from January's survey report. The February survey was taken in late January. The 11-month-old UBS Warburg survey gauges near-term expectations and trends for commodity prices, oil field activity, and oil field services and product pricing. Data come from oil company operating personnel.The survey responses underpin an index pegged to a weighted average ranging from 100 to –100. The size of a positive value indicates...

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