Drilling Activity,unconventional Resource Plays Key Gas Supply Variables

摘要

Warren Buffett once said, "In a business selling a commodity-type product, it is impossible to be a lot smarter than your dumbest competitor." The decline in oil and gas prices demonstrates that point beyond dispute. Soft commodity prices have everyone in the industry in the same position and encountering a similar set of challenges, no matter how smart a company may fancy itself. In fact, the changes in the exploration and production industry during 2008 were some of the swiftest ever experienced. Only eight months ago, companies were enjoying record oil and gas prices.