VOL. XLVI

No 5

3-February-2003

SUPPLY/DEMAND

Lehman E&P Survey Predicts A 4.2% Spending Increase In 2003

The latest Lehman Brothers E&P Spending Survey, published in December 2002, concludes that oil and gas companies plan to increase their worldwide exploration and production expenditure by 4.2% in 2003 to $132bn, compared with the estimated $127.1bn spent in 2002. The report, by Lehman analysts James D Crandell, Angeline M Sedita, Lisa R Hackman, Eric M Conklin and James C West, shows...