VOL. XL
Issue No. 23
9-June-1997
OPEC
Oil Companies Are Spending More And Finding Less, Says Morgan Stanley
The oil industry took "a giant step backward" in 1996,following several impressive years on the finding cost, "with a 22% increase inworldwide gross finding costs to $5.65/barrel oil equivalent (boe) for the E&Ps and a16% increase to $5.09/boe for the integrated oils," according to Morgan StanleyInternational Investment Research. The survey, which included 35 E&P companies and 14...
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