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Oil and gas exploration and production companies in North America have positioned themselves for growth beyond 1996. The Canadian sector, where royal trust funds are becoming popular, invested in new capacity while Mexico's state-owned Pemex, increased production to 2,722,000 bopd. of oil. Meanwhile, Cuba is enticing foreign investors to hike its production above 31,000 bopd. while Greenland is expected to award licenses for exploring Fylla Bank., The expected 2,000-well drop in Canada didn't happen. Surging Gulf of Mexico action paces increased U.S. drilling. The difference from 1995 is $20 oil and $2.00 gas UNITED STATES Higher [...]

The year 1993 saw a resurgence in Canada's oil and natural gas drilling activities. The petroleum industry reported an average of 185 active rigs for the said year, more than double the number of wells drilled in 1992. The natural gas industry also showed exemplary performance in 1993, posting a 10% rise in export sales to the US. These positive developments were made possible by institutional investors who poured in C$4.5 billion in equity issues to bail Canada's oil and gas industry out of its financial mess., The Canadian upstream sector in 1993 experienced what by any standard must be regarded as a remarkable turnaround. The recovery was even more noteworthy considering lack of improvement in any [...]

The Canadian oil and gas sector struggled in 1992 but there are signs that a recovery is forthcoming. The modest optimism is based on the potential activities of newer and smaller firms as well as on the effects of the restructuring in bigger companies. The new group has been increasing its acquisitions of oil and gas assets in the western provinces while the old operators have divested of non-core properties., The past year proved to be another tough one for the Canadian oil and gas industry, but a few--yet faint--indicators suggest that there is a silver lining on the horizon. [...]

A visit to several republics of the former Soviet Union reveals an industry that requires not only Western financing, but also massive technical assistance, logistical support and training in capitalistic [...]

THE 1991 OUTLOOK for the Canadian upstream sector is very promising. With an expected increase in spending in the ongoing' business of 15%, together with major project activity and an [...]

The year 1997 promises to be a fruitful period for the Canadian oil and gas industry. Oil prices are predicted to remain strong, access to capital continues to be favorable and stock prices have made good showings. In 1996, oil and gas drilling in the country recorded what may be its finest annual total as it set a new record when it surpassed 1985's 12,564 wells. Another strong year for drilling is expected in 1997, with operators planning to increase their drilling by 19.8% to 5,921 wells., Strong oil prices appear to be continuing into 1997, and current budget projections reflect this. However, should oil and gas prices deteriorate, adjustments will be swift. At this time, prevailing [...]

Canadian petroleum and gas exports to the US reached record volumes during the onset of winter 1995. However, inadequate pipeline capacity, coupled with continued low prices, have depressed revenues for many Canadian petroleum and gas companies. These events have dampened corporate interest in new government land sales in 1995 and have forced many Canadian companies to reconsider earlier exploration plans., Winter's early onslaught normally would put smiles on the faces of Canadian oilmen. It provides access to areas otherwise restricted for geophysical activity and drilling. More important, it usually is [...]

The significant decline in oil and gas prices during the 4th qtr. of 1994 is expected to dampen optimism in the Canadian petroleum industry. In addition, the threat of higher interest rates is also expected to adversely affect exploration and development spending. Given these factors, analysts are unable to provide accurate estimates of the country's petroleum production and drilling activity in 1995., Uncertainty marks the Canadian oilpatch at the start of 1995. Sharply declining fourth-quarter 1994 oil and gas prices have taken some steam out of optimistic budgets and projections. If, by [...]

A year to forget. There are no fond memories of 1991. From a promising start, the year turned sour in the second quarter, and activity never recovered. Restructuring of the [...]

The Canadian petroleum industry will have to deal with the challenges presented by price developments on the international market. The short-term focus of the industry should be on skillful management and the pursuit of improvements in technology. The lack of an improvement in oil prices will present an obstacle to the development of new supplies to offset the decreasing production of conventional light crude from western provinces. If there is a disruption in the supply of oil from the Middle East, Canada could become dependent on imports., The Future Oil Market The oil industry has gone through unprecedented global upheaval in the past decade and faces new challenges in the 1990's. There have been dramatic changes in [...]

Low prices harpoon Canada's mini-boom IT'S DIFFICULT TO PUT a label on the year 1988 in the Canadian oil and gas industry. With budgets underpinned by price expectations of $17/bbl [...]

Reports on the performance of the oil industry in North America for the second half of 1993. United States; Canada; Mexico; Cuba; Guatemala; Greenland; Honduras; Belize; Nicaragua; Costa Rica; Drilling; Surveys; Spending; Prices; Politics; Exploration; Production; Projects; Expenditures.