Uncertainty regarding natural gas and crude oil prices remains the primary concern of upstream U.S. energy companies for the second consecutive year, according to Grant Thornton LLP’s 11th Survey of Upstream U.S. Energy Companies.
Our 2013 report, commissioned by Grant Thornton in partnership with Hart Energy, comprises more than 200 responses from senior executives in the energy industry across North America. Survey topics included price and employment forecasts, capital spending plans, regulatory and legislative developments, and new areas of opportunity.
Expectations for the average 2015 natural gas price varied by about $5.50 among respondents. Crude oil forecasts saw a $100 price difference. With energy price volatility continuing to hinder the industry, fewer respondents expect an increase in capital expenditures during 2013. The survey also suggested little change in the industry’s preferred method for accessing capital, indicating that private equity funding and debt instruments remained the preferred methods.
The Grant Thornton LLP Survey of Upstream U.S. Energy Companies 2012 provides a detailed look at the state of the industry, including employment outlooks, price expectations and areas of opportunity. The 10th survey comprises responses from more than 100 senior executives of independent oil and gas exploration and service companies.
Grant Thornton’s ninth annual Survey of Upstream U.S. Energy Companies polls the executives on key issues facing their industry, from the impact of price expectations on drilling activities and regulatory changes to employment outlook and accounting challenges.
The 2010 survey was conducted from November 2009 through December 2009. Over 100 senior executives of independent oil and gas exploration and service companies responded to the survey.