With the final lease awards in the 26th Licensing Round in December 2011, independent oil and gas companies were happy with the round and should be major players in the new round.
January was barely half over, and energy analysts were already adjusting their oil-price estimates for the rest of the year. Here's why a lot of smart people on Wall Street say $98 -- or above -- could be the magic number.
The news may be dour in the onshore natural gas market, but the outlook is getting sunnier offshore, whether the focus is a reviving Gulf of Mexico or the rapidly developing global deepwater market.
If further sanctions are levied on Iran that cut the country’s oil exports, oil prices could go through the roof to the benefit of China and the detriment of independent oil companies.
The number of rigs that have left the Gulf of Mexico and the slow pace of issuing new permits have resulted in a steep decline in investment and a major loss of jobs.
With continued industrialization, growing export industries, and the emergence of an increasingly energy-intensive middle class of consumers, China is expected to account for about 65% of the world’s oil demand growth and about 30% of its natural gas demand growth by 2035.