The year over year drops in 2015 capital expenditures were significant, but apparently not significant enough. Budgets for 2016 are trickling onto the newswires, and some of the largest companies in the business are pulling back on costs yet again. Heavyweights like Chevron (ticker: CVX) and ConocoPhillips (ticker: COP) are reducing capital but abiding to their dividends; other debt-laden E&Ps
Management said 2016 volumes will rise by 1% to 3%, fueled by project startups in Alaska, Australia and Canada oil sands ConocoPhillips (ticker: COP) is ramping down its 2016 operations, with the majority of the pullback focused on North America. The 2016 guidance release, issued on December 10, 2015, outlines a capital budget of $7.7 billion – about 25% below
ANSWER: Smart people, strong leadership, and a relentless drive to create success. Peek behind the front doors of the companies finding, producing, transporting and transforming energy. While oil and gas companies across the planet are battling a commodities price environment in which a barrel of oil fetches 70% less than it did 18 months ago, Whiting Petroleum (ticker: WLL) has found and implemented
The oil and gas market is approaching the end of 2015—which will no doubt go down as a highly tumultuous year for the industry. In spite of the dive in oil prices, some companies have positioned themselves well for capturing the upside through advantageous acquisitions, reliable takeaway capacity, attractive hedges and low-cost production. Or a combination of factors. Today’s focus
The oil and gas market is approaching the end of 2015—which will no doubt go down as a highly tumultuous year for the industry. In spite of the dive in oil prices, some companies have positioned themselves well for capturing the upside through advantageous acquisitions, reliable takeaway capacity, attractive hedges and low-cost production. Or a combination of factors. Today’s focus
Budget layouts and capital expenditure plans for 2016 are trickling onto the newswires, with EQT Corp. (ticker: EQT), Noble Energy (ticker: NBL) and PDC Energy (ticker: PDCE) all unveiling their plans within the week. To date, the plans are mirror images of 2015: less spending, more production. Spending for 2015 was significantly below 2014 levels. Based on EnerCom’s E&P Weekly Benchmarking
CEO Kubik: An independent COS offers more upside to shareholders (Editor’s note: all figures in Canadian dollars) On December 1, 2015, Canadian Oil Sands (ticker: COS) issued a press release with an accompanying conference call detailing its 2016 budget and what it described as a “new era of lower cost operations.” The timing comes as no coincidence, as Suncor’s $6.6
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