Oil, gas executives see reduced US rig deployment in 2018: Deloitte survey

12 Oct 2017   Oil Supply, USA

A majority of oil and natural gas company executives polled in a survey released Wednesday expect a net decrease in rig deployment next year compared with 2016 levels, as spending by operators slides amid a forecast that US commodity prices will remain cheap. The survey by consulting firm Deloitte of over 250 industry professionals highlights the uncertainty producers, processors, pipelines and exporters see in the energy sector heading into 2018, even as the Trump administration promises new opportunities for projects. Half of upstream oil and gas executives surveyed expect up to a 10% decline in capital expenditures next year versus last year, including 4 in 10 expecting exploration spending to fall, Deloitte said. Some 58% expect a net decrease in rig deployment. On the midstream side, 56% of executives expect a decrease in capital expenditures in 2018 versus 2016, while only one in eight expect an increase over the […]

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