There is a quiet view that if the North America suffers a cold winter, as some predict, we may see spot shortages in deliverability and high spot prices. Domestic producers continue their march towards increasing their natural gas portfolio, as the rig count inches up from an historic low of 488 to just over 600. Fortune favors the bold. It is time and there is distinct opportunity now to recommence exploration in North America and in International. The bold will pound Management's desk today.
Leases have or are expiring from the last boom.
International concessions have lapsed. Drilling and seismic prices are at a remarkably low ebb. Most of our independent client companies continue to reduce their debt while they eye domestic natural gas ventures, not being ignored by the majors. Production purchases are likewise being done on improving price bases. That is our definition of world-class.