From The Houston Chronicle With Occidental Petroleum finalizing its $38 billion acquisition of Anadarko Petroleum last week, Oxy is now lowering its oil and gas production guidance for the legacy Anadarko assets. For the rest of this year, Oxy said Anadarko’s assets will see lower production volumes by at least a couple of percentage points than anticipated because of pipeline
Samson Resources II, LLC has released its 2018 total capital budget with a range of $105 to $115 million. The capital program aims to increase production volumes by about 20%, compared to 2017 exit production rates. The company will spend $85 to $95 million toward its drilling and completion program and $20 million toward its leasing, seismic, recompletion and workover
PDC Energy 2017 capital budget and growth both exceed analyst expectations Denver-based PDC Energy (ticker: PDCE) announced its capital budget and production plans for 2017 on Monday exceeding analyst expectations. According to the company’s press release, PDC plans to grow production more than 40% year-over-year with a capital budget of $725 million to $775 million. The budget is about 7%
Antero Resources announced on February 17, 2016, the company’s capital budget and guidance for the 2016 fiscal year. 2016 capital spending will be reduced to $1.4 billion from $1.8 billion, a reduction of 23%. The new capital plan includes an average of 7 drilling rigs between the Marcellus and Utica shale plays, a 50% reduction form the 14 rigs operated
$1.85 billion for drilling in 2016 with 10% production growth and no debt raises rest of year Pioneer Natural Resources (ticker: PXD, PXD.com) announced its fourth quarter results, along with its 2016 capital budget of $2.0 billion. The company lowered its 2016 capital budget expectations by $0.5 billion from earlier estimates, but still expects to grow production by about 10%
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
Will spend 24% less than in 2015; dividends are ‘No. 1 priority’ Chevron Corp. (ticker: CVX), the second-largest energy company in the U.S. by revenue, announced its capital budget for 2016, saying it plans to spend 24% less than it has this year. Chevron said that it expects to spend $26.6 billion in capital and exploratory investments next year, with
