Shale development to accelerate U.S. capex spending

摘要

Following two years of tepid growth, North American oil and gas capex spending is primed for acceleration led by the U.S., according to Barclays Research's 2014 Global E&P Spending Outlook, released in mid-December. The report, which surveyed 300 oil and gas companies worldwide, projects 7% growth in North America in 2014, up from 2% and 4% in 2013 and 2012, respectively. In the U.S., E&P capital budgets are anticipated to rise 8.5% in 2014, versus 4% in 2013.