by NSR
Cambridge, Mass., March 21, 2011-The U.S. Government’s Energy Information Agency recently published that third quarter 2010 capital expenditures on production activities at the top 13 O&G companies are at a five-year high of $29.1B, exceeding the previous high in Q3 2008 of $28.2B. Driven in part by increases in drilling activities after the Gulf of Mexico Moratorium, capital expenditures are up 48% from third-quarter averages from 2005 – 2009, indicating a general upward trend in overall exploration and production (E&P) activities. Hand-in-hand with increases in capital expenditures, O&G companies are looking to connectivity providers to enable a highly connected, real-time, collaborative remote site to boost productivity, reduce downtime, and increase safety.
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