As we near the end of this year, analysts and consultants inevitably turn their attention to next year, 2017. Will oil and gas drillers spend more money next year on their drilling programs? The consensus appears to be a resounding “Yes!” The question is, how much more? Anyone’s guess. But analysts like to guess. One those analyst firms is Evercore ISI, an investment banking advisory firm founded in 1995. Evercore’s smarties are predicting drillers will spend 25% more next year than they did this year on drilling–with a total collective spend across the industry of ~$110 billion. Here’s their thinking…
As we near the end of this year, analysts and consultants inevitably turn their attention to next year, 2017. Will oil and gas drillers spend more money next year on their drilling programs? The consensus appears to be a resounding “Yes!” The question is, how much more? Anyone’s guess. But analysts like to guess. One those analyst firms is Evercore ISI, an investment banking advisory firm founded in 1995. Evercore’s smarties are predicting drillers will spend 25% more next year than they did this year on drilling–with a total collective spend across the industry of ~$110 billion. Here’s their thinking…