We recently published our Lehman Brothers Original E&P Spending Survey, which concluded that the 325 oil and gas companies we surveyed are planning to increase their worldwide exploration and production (E&P) expenditures from an estimated $207 billion in 2005 to $238 billion in 2006. This is an increase of roughly 14.7 percent. Spending growth in 2006 is likely to be led by increases in both the United States and outside North America. U.S. E&P expenditures of $57 billion in 2006 are estimated to increase by 14.9 percent from the $50 billion that was spent in 2005 for the 247 companies we surveyed.
展开▼
