In the history of the oil and natural gas industry in the United States, 2016 will be remembered as one of the most eventful in terms of major market developments, asset transactions and developments in public policy.The writer's top observations:
- the Permian Basin exploded
- costs of drilling plunged
- EURs soared
- hundreds of companies filed for bankruptcy
- fracking was exonerated
- anti-development moved from upstream to midstream
- LNG exports ramped up
- oil exports almost doubled
- the US became a net exporter of natural gas
- OPEC "surrendered"
Along with him will come nominees like former Texas Gov. Rick Perry for Secretary of Energy, Montana Congressman Ryan Zinke for Secretary of the Interior, Oklahoma Attorney General Scott Pruitt as EPA Administrator, and ExxonMobil CEO Rex Tillerson for Secretary of State. If that looks like a pretty pro-oil and gas lineup to you, trust me, you are not alone.The writer mentions only a very few companies by name. One that he mentioned: Oasis, with regard to plunging drilling costs.