Long-term trends in energy bode well for our operations and technology. According to the Energy Information Administration (EIA):
- Total U.S. natural gas consumption will increase from 22.4 trillion cubic feet in 2004 to 26.9 trillion cubic feet in 2030.
- Unconventional production will become the largest source of future U.S. gas supply.
- Most onshore reservoirs are already discovered, meaning companies will increasingly look offshore for new discoveries.
- Considerable natural gas resources remain offshore, especially in deep waters off the Gulf of Mexico.
- Projected energy prices will remain above historical levels.
- Technology advances can moderate future oil and gas prices by raising production.
