• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 6 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days The United States produced more crude oil than any nation, at any time.
  • 2 days How Far Have We Really Gotten With Alternative Energy
  • 13 hours Bad news for e-cars keeps coming
  • 2 days China deletes leaked stats showing plunging birth rate for 2023
  • 4 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
Editorial Dept

Editorial Dept

More Info

The 3 Most Important Numbers in Energy

The Insider’s weekly run-down of critical figures and happenings from around the energy world.

$1.34. Value of proved reserves created in 2013 for each $1 spent by Gulf of Mexico oil developer EPL Oil & Gas (NYSE: EPL).

The company’s new reserves figures show a very satisfying 34% return on investment from its capital spending last year on drilling, acquisitions and development. A much higher figure than those being put in by other firms in the U.S. petroleum space.

Such returns on investment are beating even hot onshore shale plays. In 2013, major shale player Chesapeake Energy (NYSE: CHK) generated $1.20 in proved reserves for every dollar spent.

The secret to EPL’s big performance? Operating in the low-cost Gulf of Mexico Shelf, where reduced expenses are helping E&Ps realize industry-leading success—even as investors look elsewhere.

Expect that focus to change as the big returns from GOM drilling continue.  

15.5%. Further to the news above—the percentage increase in operating costs for oil and gas developers in the U.K. offshore last year, according to recent reports from industry group Oil & Gas U.K.

This is a big jump in expenses for offshore drillers. With total opex in 2013 coming in at a total $14.8 billion.

Oil & Gas U.K. expects the trend to continue in 2014—projecting a further 8% rise in costs for the coming year.

That’s a significant bite out of profits for E&Ps here. And a story…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News