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RigData - June 23, 2010 Weekly Brief on U.S. Land Drilling


Onshore drillers won’t escape repercussions from the catastrophic blowout and oil spill in the Gulf of Mexico. Counterintuitively, not all of the repercussions will be negative. But there will be enough “spillover” impacts to give land drillers heartburn for years to come.

Fort Worth, TX, June 25, 2010 --(PR.com)-- Onshore drillers won’t escape repercussions from the catastrophic blowout and oil spill in the Gulf of Mexico. Counterintuitively, not all of the repercussions will be negative. But there will be enough “spillover” impacts to give land drillers heartburn for years to come, according to The Land Rig Newsletter and RigData reporting.

Anti-drilling sentiment was already on the rise before the gulf catastrophe. NIMBY Syndrome symptoms were proliferating as the shale plays spawned a wave of drilling in new areas. Fracing had already been controversial. But the gulf disaster has spurred state regulators to raise the bar on oversight.

In recent weeks, land drilling moratoriums have popped up or are threatened in the Marcellus play states, central California, and even in the heart of Texas Barnett Shale country. On the other hand, the gulf moratorium is already causing some operators to shift more capital to onshore drilling. Anadarko is shifting some deepwater capex to onshore, liquids-rich drilling. Venoco is diverting offshore capital to onshore Monterey drilling with the offshore moratorium scuttling plans.

For more information: http://www.rigdata.com/?utm_source=PRcom&utm_medium=PRcom%2BPress%2BRelease&utm_campaign=PRcom%2B-%2BU.S.%2BLand%2BWeekly%2BUpdate

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