A revised global drilling outlook for 2000 and update on Iraq

摘要

For those who have followed and analyzed global oil and gas drilling activity for the past 15 years and have lived through several up-and-down cycles, most thought they had seen just about every variation and wrinkle possible. Then came the first quarter of 2000. In every other cycle we have seen, the global upstream industry has been quick to React to periods of higher oil prices that last six months or longer by boosting capital Expenditures, particularly those for drilling.