-- Learn how falling prices and other trends will affect the short-term outlook and drive transformational change in the oil and gas industry
MOUNTAIN VIEW, California, Jan. 8, 2015 /PRNewswire/ --
- Frost & Sullivan Global Vice President of Economic Research and Automation Sath Rao
- Frost & Sullivan Global Research Manager of Industrial Automation & Process Control Laurel Donoho
- Frost & Sullivan Director of Business Development for Oil and Gas Carl Larry
Transition towards smart capital expenditure (CAPEX) and innovative operational expenditure (OPEX) are imminent in the oil and gas industry, especially with highly unstable barrel prices. Frost & Sullivan's "2015 E&P CAPEX Outlook Model" estimates global exploration and production spending in 2015 to decline to $659.8 billion, down from an estimated $723.3 billion in 2014, if the price of crude oil remains around $60 per barrel.
Join Frost & Sullivan's upcoming complimentary webinar, "Oil and Gas CAPEX Scenarios and Impact on Digital Transformation," to explore various market dynamics and understand the future of the oil and gas industry.
Attend this webinar to:
- Discover implications of oil and gas CAPEX scenarios
- Understand the potential impact of oil price fluctuations on the industry
- Develop and synthesize an approach to evaluate strategic options
- Identify trends driving the short-term and long-term industry outlook
This webinar will feature a question and answer section in which attendees can discuss particular queries with the speakers. Additional panelists include Frost & Sullivan Industrial Automation & Process Control Industry Manager Muthuraman Ramasamy. Oilfield servicers and operators, automation solution providers, financial service providers, IT companies and others in the energy space are urged to attend.
"CAPEX scenarios in 2015 are tied to multiple factors and will depend on each company's unique situation. If their costs are high and servicing debt is an issue, typical responses will be to cut, conserve and wait for safe landings - what we typically call the 'parachute option.' Some companies will look at 'decapitation,' or roll-over and sell off to larger entities," said Frost & Sullivan Global Vice President of Economic Research and Automation Sath Rao. "The innovators, however, will see this as a call to re-tool for the future. They will spend strategically on improving innovation processes and partner with solution providers who can not only help them weather storms but emerge stronger, leaner and with exponential improvements in efficiencies. Frost & Sullivan categorizes these themes as drivers of the transition to smart CAPEX and innovative OPEX. These will help accelerate the journey towards the totally integrated digital oilfield."
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