How much will a petrochemicals company charge you for oil and gas exploration and development?
Oil and gas companies are selling exploration and production rights to oil companies for as much as $2,500 a barrel, according to the latest price estimates from the American Petroleum Institute.
The estimates, based on the company’s latest price list, are the highest since BP’s price index was first published in 2005.
The oil and natural gas companies also are getting more money for drilling and producing wells.
But the prices they are charging are still far less than what companies were charging in 2007.
The latest estimates are from the company, not BP.
The average price for the top-priced oil and Gas exploration and extraction rights in 2017 is about $8.65 per barrel, BP said in a statement.
The highest prices were reported in 2008 for oil exploration rights that went for $13.43 per barrel.
Prices have declined about a third over the past decade, to about $6.75 per barrel in 2017, according the company.
The last time oil prices were as high as they are today was in the early 2000s, when the price of oil was about $100 per barrel and exploration rights were around $1.25 per barrel each.
BP’s prices were driven down by the financial crisis, but BP said its drilling price index has held up well during the downturn.
It has also been an effective hedge against rising prices.
The price of the company is now about 1.5 times that of its peers, which includes companies like Halliburton, Chevron, Halliburd and Baker Hughes.
But BP still faces challenges in maintaining a competitive edge.
Oil prices have fallen sharply in recent years, while oil demand has increased.
The company said in the statement that it expects the oil price index to stay strong until mid-2020, at which point it expects to return to the pre-crash levels.
Oil and natural-gas prices are closely related, but the oil companies also sell natural gas and propane liquids.
In a recent Reuters interview, Halliwell said he believes the current price differential between the two will be erased over time.