Worldwide spending on exploration and production of oil and natural gas will likely increase more than the 20-30% forecasted previously by many analysts.
The copious pool of funds derived from the past year and a half's strong crude oil and natural gas prices allows for the healthy capital investment of 2000 to continue in 2001.
Worldwide exploration and production outlays are expected to sustain near-record growth in 2001, according to Salomon Smith Barney, New York. This increase in E&P spending marks a period of transition for the oil services sector from a state of recovery to one of steady growth, the firm said.
Royalty relief incentives to drill for deep gas in shallow waters, along with the continuing attraction of deepwater Gulf of Mexico exploration, were the drivers in a strong central gulf lease sale Mar. 28.
Talisman Energy Ltd., Calgary, plans $120 million (Canadian) in capital spending this year attributable to its 25% working interest in exploration and development operations in southern Sudan.
Equations and graphs have been developed for determining how long wells should be shut in after a batch inhibitor treatment and how much inhibitor is required to coat the tubing in a well.
A January uncontrolled escape of natural gas and brine from an underground salt storage cavern is having worldwide consequences for underground hydrocarbon storage operations, OGJ Online reported last month.
Oil tankers are experiencing a record year, reports Clarkson Research Studies, London, in its most recent semiannual review of the world's tanker industries.
A new, ultra-deepwater pipelay and subsea construction vessel, the CSO Deep Blue (shown here at dock), is nearing The Netherlands enroute from Hyundai Mipo dockyards after successful sea trials.
A group led by Anadarko Petroleum Corp. will resume exploration in east-central Algeria under an amended production sharing agreement with state-owned Sonatrach.
Aurora, Colo., is a new company formed by a joint venture of Bateman Engineering Inc. and Merrick & Co. BMG is the combined Denver-based oil and gas operation of both companies placed under a single management team to better serve the infrastructure needs of the hydrocarbon processing and renewable energy industries.
With leasing prospects dimming for the Arctic National Wildlife Refuge coastal plain, most US companies are hoping White House energy policymakers turn their attention outside US borders.
The two biggest challenges to increasing North American natural gas production are access to prospective land and availability of adequate drilling services, according to a survey by Ziff Energy Group, Calgary.
A top official with the US Federal Energy Regulatory Commission has conceded the so-called "gray market" helped drive natural gas prices sky high in southern California late last year.
A US Federal Trade Commission report "exonerates" the oil industry of allegations that it sought to drive up Midwest gasoline prices last summer, the American Petroleum Institute contends.
The average energy performance indicators for 20 countries that are monitored in the Global Energy Investment (GEI) Index remained relatively constant in third quarter 2000.
There seemed to be a genuine unease at the stands of many Italian oil industry service and supply companies at last month's Offshore Mediterranean Conference in Ravenna.
Pakistan's privatization ministry has retained financial adviser JP Morgan Chase & Co. to help it sell part of Pakistan State Oil (PSO), the country's largest oil marketing company.