Friday, February 7, 2014

Why 2014 could be a Great Year for the Oil and Gas Industry

James C. West, lead oil services and drilling analyst at Barclays Capital, is seeing incredible growth ahead for oil production around the world. In this interview with The Energy Report, West explains how likely constitutional change in Mexico will spur momentous industry growth, along with new deepwater targets opening up in offshore China. Meanwhile, decent commodity prices and economic improvement in Eastern Europe are creating powerful oil price tailwinds. But the best news is closer to home, in North America. Find out which companies are positioned to thrive in the year ahead.

The Energy Report: James, welcome. What were the most significant takeaways for you from the Barclays Capital Conference in September?

James West: There were five major takeaways. Four of those were very positive. One was negative. The first was that the outlook for North America in 2014 has improved. We're getting some tailwinds from commodity prices, of course, but the oil companies that previously were gas companies have now arranged their drilling programs for 2014–2016 and are relaying that visibility to oil service companies that have been operating in North America in a fairly volatile environment for the last two years. Companies are much more optimistic on the outlook for 2014 in North America.

To read full article, click here.

Source: The Energy Report (

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