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Capital Efficiency Driving Oil And Gas Industry Changes

In this era of historically low prices, oil and gas companies are tightening their belts on all levels of capital expenditures, resulting in an increased number of joint venture arrangements and technological advances. This is especially true on the exploration side, where vendors are required to renegotiate drilling and other well completion contracts, and companies are less willing to explore in undeveloped or unproven fields.

In this article, Loeb & Loeb partner Bernard R. Given II addresses the expansion of critical thinking among oil and gas companies with respect to operational and technological issues and the alternative solutions employed as a means to counteract the dramatic price drops.