OGJ Newsletter

02/07/2005
General Interest—Quick TakesE&P executives expect continuing M&A activityExploration and production executives in an informal survey said they expect oil and gas prices to remain strong and merger and acquisition activity to continue.Wayne Andrews, a Houston analyst with Raymond James & Associates Inc., St. Petersburg, Fla., said he surveyed about 40 E&P and oil service executives during the North American Prospects Expo in Houston.The group's forecast for the 2005 average gas price on the New York Mercantile Exchange was $6.52/Mcf, with a high of $8.80/Mcf and a low of $4.90/Mcf, Andrews said. The group's average 2005 oil price forecast was $44.22/bbl, with a high of $59.60...
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