Persistent weakness in North American natural gas prices prompted many traditionally gas-focused independents to place greater emphasis on liquids production in 2010. Weak gas prices are pressuring cash flows, prompting many gas-weighted producers to sell off or joint venture assets in order to raise funds, and allocate greater portions of their capital spending budgets to plays rich in oil and natural gas liquids. -There's been a capital shift to oil and liquids-rich opportunities," Sylvia Barnes, head of energy banking at Madison Williams told the Argus Americas Crude Summit in January. "There's where the cash flow is being generated. It's where the money is."
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