RMI: Prices, expiring leases push gulf E&P

Record-high oil and natural gas prices, driven in part by a severe tropical storm cycle in the Gulf of Mexico as well as upcoming lease expirations, are pushing vigorous exploration and production in the gulf, said Jim Handschy, general manager of ConocoPhillips’s Gulf Coast upstream business unit. Handschy spoke Oct. 28 in Houston at an RMI Oilfield Breakfast Forum, which focused on opportunities for oil service companies and operators.Crude oil prices during 2004-05, which increased by 40%-30% since May of this year-and natural gas prices that experienced a 100% increase-60% since May-are proving strong incentives for gulf exploration, he said.Handschy said he expects robust E&...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected