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Worldwide, US E&P spending will likely be higher than expected in 2001

04/09/2001
Worldwide spending on exploration and production of oil and natural gas will likely increase more than the 20-30% forecasted previously by many analysts (see Capital Spending Outlook special report, beginning on p. 66). Similarly, increases in E&P spending in the US this year could conceivably surpass previous estimates.According to reports from a selected group of US independents compiled by Oil & Gas Journal, worldwide E&P spending will undoubtedly eclipse companies' outlays in 2000, barring a collapse in oil and gas prices. This sample group's worldwide E&P spending plans are expected to rise 46% above spending last year (see table).In addition, Dain Rauscher Wessels Inc. (DRW)...
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