The majors are focusing more of their spending attention on the domestic natural gas market, gobbling up gas-rich acquisitions, which has lowered their finding and development costs. Meanwhile, the independents’ spending is limited only by the lack of “drill ready” projects and experienced geoscience personnel, according to the latest exploration and production study by Salomon Smith Barney’s analysts Robert Morris and Michael Schmitz.
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SSB: Independents Limited Only by Projects, Personnel
The majors are focusing more of their spending attention on the domestic natural gas market, gobbling up gas-rich acquisitions, which has lowered their finding and development costs. Meanwhile, the independents’ spending is limited only by the lack of “drill ready” projects and experienced geoscience personnel, according to the latest exploration and production study by Salomon Smith Barney’s analysts Robert Morris and Michael Schmitz.
May 30, 2001