UBS: E&P firms' near-term drilling plans to remain flat

12/15/2003
Oil and natural gas operating companies' spending and drilling activities are expected to remain flat for the next few months, according to the monthly PatchWork Survey released last month by UBS Securities LLC analysts (see Industry Trends, p. 7).November's survey results "continue[d] to oscillate and have yet to provide a consistent trend in either direction," said UBS analyst James H. Stone. "Taken with other indicators, such as permitting and bidding activity, we expect drilling and spending to remain constant over the next 2 months," he said.Expectations for service pricing in November's survey reached the same levels as a month earlier, Stone said, "and well below the hi...
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