Impact of the Financial Crisis on Oil & Gas Exploration and Production Investment

GlobalData has published the new report, “Impact of the Financial Crisis on Oil & Gas Exploration and Production Investment” that focuses on the key challenges and issues faced by exploration and production companies.
 
 
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Tags:
Oil
Gas
Crude Oil
Natural Gas
Exploration
Drilling
Oil Prices

Industry:
Energy

Location:
England

Dec. 3, 2008 - PRLog -- GlobalData has published the new report, “Impact of the Financial Crisis on Oil & Gas Exploration and Production Investment” that focuses on the key challenges and issues faced by exploration and production companies.

The financial crisis that has created a world wide credit crunch may stem the flow of capital expenditure by exploration and production (E&P) companies. With commodities prices now having fallen 63% for oil and 50% for natural gas off recent highs in July 2008, E&P companies are cutting back their capital budgets and drilling plans for the remainder of 2008 and 2009.

For more information on this report click here:
http://www.global-market-research-data.com/Report.aspx?ID=Impact_of_the_Financial_Crisis_on_Oil_~_Gas_Exploration_and_Production_Investment

Key issues and findings addressed in the report include:
•   The plunge in oil prices to around $50 a barrel and natural gas to $7 per mcf will curtail E&P companies' spending on new projects and limit production growth
•   In 2008, production growth is expected to be around 14%, the highest growth rate since 2003. However, E&P companies are expected to cut their initial production guidance for 2009 if the commodity prices continue to trade around current levels
•   Crude oil prices fell by more than a third in value from their record levels of above $147 in July. Crude oil prices are expected to continue their bearish trend with a weak global economic outlook, financial market turmoil, and strengthening US dollar
•   As crude oil falls on the back of the current economic and financial climate and fear of recession, most E&P companies are now trading near their 52-week lows
•   Global financial and economic crises have led to falling stock markets and oil prices. This combination could be enough to trigger strategic acquisitions and partnerships by oil and gas companies
Analyze the impact of the financial crisis on the future investment strategies of E&P companies, with this latest report.

For more information on this report click here:
http://www.global-market-research-data.com/Report.aspx?ID...

Or visit the GlobalData Report Store:
http://www.global-market-research-data.com/

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Tags:Oil, Gas, Crude Oil, Natural Gas, Exploration, Drilling, Oil Prices
Industry:Energy
Location:England
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