Producers using United States regulations are expected to report lower proved gas reserves this year because of a change in the way the price for proven reserves is calculated, say independent reserves evaluators. Companies using Canadian regulations and forecast pricing will be in better shape to hold onto or book increased gas reserves.
A new labour forecasting model unveiled by the Petroleum Human Resources Council is evidence of the urgent need for companies to recruit new talent, and hang onto their veterans, even in the face of a global recession.
The petroleum industry must bridge a generation gap as it attempts to recruit young workers to replace the 50% of all oil and gas employees forecast to retire over the next five years.
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