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Negative Short Term Gas Outlook Driving the Exploration and Production Companies to Expand into Oil
GlobalData, May 2010, Pages: 6
Negative Short Term Gas Outlook Driving the Exploration and Production Companies to Expand into Oil
Summary
At a time when the natural gas price has had a negative outlook with a 30% reduction in prices from the beginning of the year 2010, the oil price has steadily increased, showing a positive sign of growth. Increased gas production in the past combined with economic downturn that led to reduced gas consumption, resulted in a decrease in the natural gas prices. Currently, oil price ranges at around $82 per barrel and natural gas at $4 per thousand cubic feet, prompting many major natural gas companies to switch to oil assets for better revenues and profits. This shift may lead to increased attractiveness for crude oil in the coming years with reduced focus on natural gas supplies.
Scope
- Increasing gas production in the US
- Decline in natural gas demand
- Rising prices of crude oil globally
- Growing interest towards development of unconventional oil shale plays and the focus of major E&P companies towards higher oil production.
Reasons to buy
- Understand the key reasons behind the decline in gas prices globally and the growing importance of oil
- Gain understanding of the implications of the increase in unconventional oil & gas production, mainly in the US on the global oil and gas industry landscape
- Identify natural gas companies that have been investing in their oil assets to increase profitability.
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