GLG News by Prudhoe Bay Experts

Non-OPEC production growth excluding Angola is expected to decline by over 200 kbd in 2007 and by over 750 kbd in 2008 putting additional pressure on crude supply. Of additional concern is that a great portion of that decline has come from areas far more politically stable than other major...

Demand for oil and gas continues to increase while traditional sources of the oil dry up (i.e. the Gulf of Mexico). New sources must me explored and produced like shale oil in the US and Canada, Alaska and offshore east and west coast USA. Secondly, refinery capacity must be increased. The same people...

The average price Devon got for gas for the reporting period in this article is well below what it is today (+/- $6 versus +/-$8). Given the close to 33% increase in gas prices today and a bullish forecast for the remainder of 2007, Devon's profits should increase significantly if they can keep production...

Gas prices are what drive most of the drilling activity in North America (land) and to a lessor extend offshore GOM. Although the major and major independent operators plan their drilling budgets far enough in advance that they are less likely to be effected by price fluctuations, the smaller independents...

Natural gas prices have a significant if not the greatest effect on US Land drilling activity and, in turn,  the cost for rigs and oilfield drilling services. EOG Resources is a major player in the US Land drilling market and a significant producer of natural gas. Gas prices are...