Oil and Gas Industry Enjoying an Energy Renaissance

Sentry Energy Production, LLC, focuses on discovering high-potential business opportunities in the oil and gas sectors. As an exploration and development firm, Sentry Energy Production, LLC, identifies reserves in areas which have achieved previously high rates of drilling success. Recent years have seen significant growth in the industry’s exploration and production (E&P), with spending rising 46% from $243 billion in 2009 to $355 billion in 2013.

Industry analysts see this increased spending on E&P as a sign of a burgeoning energy renaissance. Today’s oil and gas companies are investing in improved midstream infrastructure, petrochemical facilities, and refinery operations. These targeted investments can help grow production capabilities in regions that are already producing. However, although investment money is flowing into North America, oil and gas companies must carefully manage spending on megaprojects. In 2013, major oil and gas producers had three to five active megaprojects at any given time, with these projects accounting for 24 to 35 percent of the total annual cash flow of these companies.

The oil and gas industry is also enjoying improved perception by the public. Research reveals that positive public sentiment about the oil and gas business has grown 11 percent since 2008. This trend, coupled with the increasing investment in the industry, should help oil and gas companies attract the talent they need to maximize their potential.