unassuming aurora takes home the gold , page-36

From
http://www.energyandcapital.com/articles/weekend-why-you-should-bet-on-energy-in-2011/1385


"With nearly all of the world's giant oil fields in decline, the majority of production will be shifting to smaller fields. In other words, say goodbye to the cheap, easy-to-get oil.

Even the mighty OPEC won't be able to hide their data forever...

But that's nothing new to us, right?

Just this week, Nick Hodge explained how OPEC members will try to cash in and you can bet $100/bbl oil will play a part. The oil majors are certainly going to take advantage of it.

According to a survey by Barclays Capital, the major energy companies are expecting to shell out more than $500 billion on oil and gas exploration in 2011.

Where are they planning to spend that cash?

Take Occidental Petroleum Corp, for example. The company just announced plans to dump its Argentina operations and spend over $3.2 billion on crude and natural gas plays in both North Dakota and Southern Texas i.e. the Bakken and Eagle Ford formations.

You probably remember earlier this year when Exxon Mobil completed their merger with XTO Energy. The $41 billion deal gave Exxon Mobil a stake in the U.S. shale boom.

The surge in shale activity over the last few years has even caught China's attention, who has been spending billions buying up assets in Southern Texas.

So how exactly are you preparing for 2011?

"