Houston, August 6 news, as a result of rising oil prices and the declining cost of oil field services, the U.S. oil and gas companies have recently enhanced awareness of the remainder of the year the performance of the company's forecasts. As a result of oil prices from a quarter of the 43 U.S. dollars a barrel to 60 dollars, such as the United States and Bill Barret as Denbury Resources Inc. Oil and Gas companies have forecast the company's performance will be improved in the second half of this year.
Decline in the cost of services has also helped companies such as Exco and Berry Petroleum oil and gas companies as better than expected quarterly results. Analyst Amir Arif company Stifel Nicolaus, told reporters that the cost of services is expected to continue to decline 5-10 percent, a decline in service fees will be increased drilling activity.
However, BMO Capital Markets said the analyst, he considered that a further decline in the cost of services will reduce their impact on company bottom line.
Aug. 7, 2009
Junin-7 block of Venezuela has 6 billion barrels of recoverable oil reserves
August 1, Caracas, Venezuela, government officials said in recent days by the Venezuelan national oil company (PDVSA) and the Spanish oil giant Repsol joint research of an oil block in Venezuela have more than 6 billion barrels of recoverable oil reserves the oil block likely to begin in 2011 oil production.
Venezuelan President Hugo Chavez in Venezuela to attend the Spanish energy companies and energy companies, signed in Caracas between the number of agreements on the media after the ceremony said: "This will be a great project." Chavez added that, Junin-7 block of Venezuela and Spain will be a joint venture formed to develop the oil block will be on more than 20 million barrels per day. The construction of the project to upgrade facilities to handle tar-like crude oil.
Venezuela and Spain agreed to start in 2005 at the Orinoco oil belt in eastern Venezuela's Junin-7 block the exploration and development cooperation. Orinoco region is considered the world's oil reserves and one of the major oil overweight.
Venezuelan Oil Minister Rafael Ramirez said that the oil block Junin-7 may be in the research end of this year. Once the joint venture sometime next year is approved, oil production may have been approved the day after the beginning of two years.
Aug. 3, 2009
Venezuelan President Hugo Chavez in Venezuela to attend the Spanish energy companies and energy companies, signed in Caracas between the number of agreements on the media after the ceremony said: "This will be a great project." Chavez added that, Junin-7 block of Venezuela and Spain will be a joint venture formed to develop the oil block will be on more than 20 million barrels per day. The construction of the project to upgrade facilities to handle tar-like crude oil.
Venezuela and Spain agreed to start in 2005 at the Orinoco oil belt in eastern Venezuela's Junin-7 block the exploration and development cooperation. Orinoco region is considered the world's oil reserves and one of the major oil overweight.
Venezuelan Oil Minister Rafael Ramirez said that the oil block Junin-7 may be in the research end of this year. Once the joint venture sometime next year is approved, oil production may have been approved the day after the beginning of two years.
Aug. 3, 2009
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