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Receivable Financing Helps Oil and Gas Industry Players

Receivable Factoring oil gas

The U.S. oil and gas services industry is experiencing an explosion in growth, as the country moves toward reduced dependence on foreign energy sources. As the technology of locating and extracting both oil and gas energy sources expands at an exponential pace, the demand for domestic energy continues to increase along with receivable financing.

“The scale of this unfolding oil and gas revolution in the United States” is surprising in its rapidity, according to Daniel Yergin, vice chairman of global information company IHS and head of the firm’s Cambridge Energy Research Associates unit (which he founded). Yergin is a long-time, recognized expert on the energy industry.

“The fact [that] our oil production is up 40% since 2008, and the economic impact it has had on jobs, manufacturing, and competitiveness. I think that’s a theme that’s going to run through [the discussion],” Yergin said in an interview in March with CNBC in connection with an annual energy conference the firm has been sponsoring for many years.

Hydraulic fracturing, or “fracking,” has helped lead to this revolution in gas and oil production. The U.S. Energy Information Administration (EIA) has projected that there are 2,200 trillion cubic feet of gas resources in the U.S., enough for 100 years. In drilling for that gas, the industry uncovered a trove of natural gas liquids.

Furthermore, the International Energy Agency has projected that the U.S. could potentially leap-frog Saudi Arabia and Russia to become the world’s biggest oil producer by 2020.

Read more about  how Receivable Financing and Financing for Oil and Gas Suppliers and Vendors >>

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