IPEC 2019 LUNCHEON | Wednesday, October 9th | SPEAKER:
“State of the Oil and Gas Industry”
At the inception of our domestic shale boom, market expectations for the upstream sector were heavily focused on production growth and industry answered the call with technology and efficiency. According to US Energy Information Administration data, domestic production increased in excess of 100% for oil and over 60% for natural gas between 2005 and 2018, all thanks to unconventional resource plays. After oil prices collapsed in 2014, market expectations pivoted from production growth to capital efficiency. Upstream companies that quickly met this new expectation have done fairly well, those that have not met this new expectation, not so well. This message will focus on what is important today and why there is plenty of room for optimism.