American Oil and Gas Reporter - May 2015 - 47

To Boost Current Returns
And Prepare For

Activity Upswing
By Colter Cookson

While lower oil prices have forced operators across the United States to scale back 2015 drilling

and completion activities, in many cases their offices are as busy as ever. Anticipating an inevitable

oil price recovery, many independent oil and gas companies are taking advantage of the industry
breather to streamline processes, cross-train employees, analyze data, and high-grade drilling
opportunities so they can ramp up activity as drilling economics improve.

In the meantime, many operators continue to drill on their best acreage, knowing that it remains

profitable even at lower price levels. They also are looking for ways to increase production from existing
assets, including tried-and-true optimization and maintenance procedures, as well as novel techniques.

On the financial side, independents are tapping private and public equity, paying down debt, and

selling noncore assets to ensure they have the financial resources to weather price volatility and
pounce on opportunistic acquisitions when the time is right. For these companies, the slowdown in

activity provides chances to build larger lease positions in core plays to achieve even greater
economies of scale, and to expand into proven plays with high potential.

Whatever their business model, today's operators share a single goal: to emerge from the

downturn stronger than ever. That means formulating business plans to succeed in today's market

environment, as well as to position themselves to be the early movers in capitalizing on opportunities
as they emerge.

MAY 2015 47



American Oil and Gas Reporter - May 2015

Table of Contents for the Digital Edition of American Oil and Gas Reporter - May 2015

Contents
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