The oil and gas industry has experienced two strong consecutive years, although it remains somewhat on an activity plateau. We expect that 2013 will be another good year with sustained E&P activity despite a slight drop in WTI and Brent oil prices. World Oil predicts the average WTI price in 2013 to be $87.80/bbl and Brent to $103.50/bbl. A slow, but steady increase in Henry Hub natural gas price through 2013 should offer some sustenance to those independent U.S. operators, who were not able to transition to liquids production. World Oil predicts the Henry Hub price will average $3.45/Mcf in 2013. Drilling has remained strong in the U.S. and worldwide.
展开▼
