Wednesday, December 16, 2009

What is the future of oil and gas drilling in the US?

I am a driller on a drilling rig, and I only want opinions of other oilfield workers.. I.E. Consultants, investors, and geologists. Any incite would be appriciated.What is the future of oil and gas drilling in the US?
I am geologist in the oil and gas industry for about 19 years. I think the future is very bright. There is a demand both for land and offshore rigs worldwide. There are still sufficient reserves and the reserves that were not economic 10 years ago are now better than gold mines ! Even with a very weak dollar .


But this is not only in the state, for example, in West Africa, a drillship which was around 250 000 $ per day in 2000 is now at 450-500 000k$/day ! Same for the jackup, the land rig, the swamp barges etc...


I am very optimistic for the next 20 years (Sorry, I am limited to the horizon of my retirement)What is the future of oil and gas drilling in the US?
being a geologist myself I would say that the future of oil and gas drilling looks very bright. Demand is not going anywhere, and neither is the internal combustion engine.

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