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Speakers see changed, maybe relocated, US industry
08/03/2009
The US oil and gas industry will emerge from its doldrums structurally changed and perhaps relocated, according to a scenario that took shape at the RMI Oilfield Breakfast Forum in Houston July 28.“This isn’t an exploration and production industry any more,” declared Jim Wicklund, principal and energy portfolio manager of Carlson Capital LLC, Dallas.With natural gas abundant and prices low in comparison with oil, publicly owned independent producers have shifted from drilling mainly for gas toward a new emphasis on oil.Furthermore, Wicklund said, “Gas exploration in the US has ceased” because of the growing domination of shale plays and the consequent reorien...
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