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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: energyplay who wrote (16144)12/23/2002 11:04:46 PM
From: Sharp_End_Of_Drill  Read Replies (2) of 206334
 
EP, I'd say $4.50 gas for an extended period of time will kick off a large drilling boom. The extended period is of course the catch, companies will want some visibility going forward.

I'd also say we could drill for a couple years without any major new seismic as the portfolios of prospects are worked through. The consolidation of E&P firms has resulted in long lists of prospects, many of which were put on the back burner because they didn't meet the criteria of the (now) larger companies.

On a related but different topic, I can foresee some political consequences coming down the pipeline from these high oil & gas prices and lax drilling. Companies will eventually get hit with accusations of profiteering, i.e. reaping all the high dollar income while doing little to find new sources of production. There will be talk of windfall taxes, and much political gum wagging.

Sharp

Sharp
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