Low prices may slow gas output expansion: Shell
posted by ignaciaorr 121 days ago under bradley associates madrid spain, bradley associates belguim, bradley associates media-yhdysvaltalainen demokra, low prices may slow gas output expansion-shell
Royal Dutch Shell Plc, Europe’s largest oil company, and U.S. natural-gas producers said low prices may slow an expansion in North American onshore shale production.
Shell will keep spending “on the lower end” of last year’s US$3-billion to US$5-billion range if market conditions don’t improve, Marvin Odum, president of the company’s North American operations, said in an interview Wednesday. “It wasn’t so long ago that gas prices were still at a level where everybody was drilling almost as fast as you could reasonably make it happen,” said Odum, who was attending CERAWeek, a Houston conference held by IHS Cambridge Energy Research Associates. Now companies are starting to react “to where the prices are,” he said. » Low prices may slow gas output expansion: Shell |
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