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Investing in Oil and Natural Gas: A Few Key Issues

Investing in Oil and Natural Gas: A Few Key Issues. Prepared for EIA Conference Susan Farrell, Senior Director PFC Energy April 8, 2009. The Top 20 IOCs and Top 20 NOCs Account for Over Half of E&P Spend. Source: PFC Energy, Global E&P Surveys. Oil Prices Rose, But So Did Costs.

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Investing in Oil and Natural Gas: A Few Key Issues

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  1. Investing in Oil and Natural Gas:A Few Key Issues Prepared for EIA Conference Susan Farrell, Senior Director PFC Energy April 8, 2009

  2. The Top 20 IOCs and Top 20 NOCs Account for Over Half of E&P Spend Source: PFC Energy, Global E&P Surveys

  3. Oil Prices Rose, But So Did Costs Avg $59.13 Large Gulf of Mexico Facility Costs by Segment Avg $28.31 + 52% Source: PFC Energy

  4. Near term Spending Cuts will be Significant E&P Spending by Selected IOCs Further cuts expected Oil Price 2007 $/bbl 2007 $mm -24% -29% -27% Source: PFC Energy, Global E&P surveys

  5. Some Companies will Disappear:46 of 79 Independents No Longer Exist 000 mbd 1995 2007 Source: PFC Energy

  6. Non-OPEC Decline Rates Continued to Climb in Spite of Higher Prices Source: PFC Energy

  7. The Deepwater Contribution … Can it Continue? 12% average annual decline rate Source: PFC Energy

  8. The Global Liquids Supply Crunch Still Exists Demand 1.5% Biofuels 1.0% Tar Sands 0.5% OPEC Liquids Non-OPEC Liquids Source: PFC Energy

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