Oil and Gas Companies' Drilling Spending Estimates

Goals

  • Determine the estimates made by U.S. oil and gas companies last 2018 or 2019 on their future spending on domestic drilling, including the Gulf of Mexico.

Early Findings

Oil and Gas Companies' Drilling Spending Estimates

  • A 2019 report from the Oil & Gas Journal mentioned that upstream oil and gas spending for 2019 will grow by only 2%. This is significantly low compared to the 23% increase in the previous year.
  • Upstream activities include drilling for oil.
  • Based on its 2019 press release, Chevron planned to spend $7.6 billion in upstream activities in the United States.

Summary Of Our Early Findings Relevant To The Goals

  • Our one hour of research provided some of the upstream (including drilling) spending estimates made by U.S. O&G firms last 2019.

Proposed next steps:

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