OGJ Newsletter

General Interest - Quick TakesGlobal E&P outlays to rise ‘materially’ in ’06Worldwide exploration and production expenditures are likely to rise “materially” in 2006, Lehman Bros. said in its annual E&P Spending Survey.The report noted that the 325 companies surveyed plan to increase their worldwide E&P expenditures by 14.7% from 2005 levels to $238 billion in 2006.In the US, E&P outlays by 247 of the surveyed companies are expected to rise by 14.9% to $57 billion. “All types of companies that operate in the domestic market-small-to-large independents and major oil companies-are budgeting significant increases in their 2006 budgets,&rdqu...

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