Frenzied

The frenzied search to find and develop new oil and natural gas supplies in ever more demanding areas, driven into high gear by escalating prices, will lead to a boom in capital and operational spending in the world’s offshore regions, according to Douglas-Westwood Ltd. and Energyfiles.

While settling down to a pace described as “sedate” compared to the frenzied activity of the last two winter work seasons, western Canadian drilling instead appears to be chasing bigger natural gas targets.

While settling down to a pace described as “sedate” compared to the frenzied activity of the last two winter work seasons, western Canadian drilling instead appears to be chasing bigger natural gas targets.

After spiking 43 cents on frenzied buying Monday, natural gas futures sifted lower Tuesday as traders took profits on bearish weather forecasts as well as expectations calling for a large storage injection to be announced later this week.

The frenzied pace of pipeline expansion in the West clearly is not over yet. PG&E Gas Transmission Northwest (GTN) is planning another major expansion, potentially 500 MMcf/d, with a targeted in-service date of November 2003.

The frenzied pace of pipeline expansion in the West clearly is not over yet. PG&E Gas Transmission Northwest (GTN) is planning another major expansion, potentially 500 MMcf/d, with a targeted in-service date of November 2003.

Drilling has picked up to a frenzied pace as active natural gasrig numbers continue to skyrocket in the United States and Canada.Rotary rigs drilling int he United States soared by 20 last week toa new record of 736 active gas drilling rigs, according to BakerHughes’ Rig Count report. Currently there are 235 more domesticrigs actively drilling than at the same time last year.

Drilling has picked up to a frenzied pace as active natural gasrig numbers continue to skyrocket in the United States and Canada.Rotary rigs drilling int he United States soared by 20 last week toa new record of 736 active gas drilling rigs, according to BakerHughes’ Rig Count report. Currently there are 235 more domesticrigs actively drilling than at the same time last year.