Spurred by strong demand and high commodity prices, oil and natural gas industry spending on drilling and equipping wells in the United States surged again in 2007, hitting an all-time high of $226.4 billion, more than double the previous record of $109.8 billion set in 2006, according to a joint survey of drilling costs cited by the American Petroleum Institute (API).
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Producer Spending on Drilling Set Record of $226.4B in 2007
Oil and natural gas industry spending on drilling and equipping wells in the United States surged again in 2007, hitting an all-time high of $226.4 billion, more than double the previous record of $109.8 billion set in 2006, according to a joint survey of drilling costs cited by the American Petroleum Institute (API).
January 7, 2009
API: Drilling Expenditures Hit Record $110B in 2006
Oil and natural gas industry spending on drilling and equipping wells hit a record high of nearly $110 billion in 2006, according to a new report issued by the American Petroleum Institute (API) last Wednesday. Industry drilling expenditures for natural gas outpaced those for crude oil for the 19th year in a row in 2006.
May 12, 2008
API: Drilling Expenditures Hit Record $110B in 2006
Oil and natural gas industry spending on drilling and equipping wells hit a record high of nearly $110 billion in 2006, according to a new report issued by the American Petroleum Institute (API). Industry drilling expenditures for natural gas outpaced those for crude oil for the 19th year in a row in 2006.
May 12, 2008
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