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.
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.
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.
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.