What Falling Oil Prices Mean for Exploration Companies

The video discusses the 2015 outlook for capital spending and EMPs, highlighting budget adjustments due to the new oil environment. It examines the impact of credit availability on EMPs' flexibility and activity. The potential effects of oil drilling curtailment on gas output and market balance are analyzed. Valuation levels for oil and gas are compared to historical lows. Finally, challenges faced by exploration and production companies are explored, focusing on demand-supply imbalances.

Discuss the relative valuations of crude oil and gas in the current market.

What challenges do exploration and production companies face in replicating historical gains?