capital spending – Oil & Gas 360

Occidental reduces debt after OxyChem sale, posts strong quarter

February 19, 2026

(World Oil) – Occidental Petroleum reported fourth-quarter 2025 production that exceeded guidance and continued balance sheet improvement following the sale of its OxyChem business, the company announced Tuesday. Total company production averaged 1.48 MMboed during the quarter, surpassing the high end of guidance, with strong contributions from the Permian basin and Rockies. U.S. Gulf and international production met expectations. Occidental generated

Chevron expects up to $400 million quarterly impact from Hess deal

September 25, 2025

(BOE Report) – Chevron said on Thursday it was expecting a loss of $200 million to $400 million in the third quarter due to the impact related to the acquisition of Hess. Chevron closed its $55 billion buyout of Hess in July after winning a landmark legal battle against larger rival Exxon Mobil to gain access to the largest oil discovery in decades.

OPEC expects slower 2025 oil supply growth from rivals after price drop

May 15, 2025

(Investing) – LONDON – OPEC on Wednesday trimmed its forecast for growth in oil supply from the United States and other producers outside the wider OPEC+ group this year and said it expected lower capital spending following a decline in oil prices. Supply from countries outside the Declaration of Cooperation – the formal name for OPEC+ – will rise by about

Low carbon world needs $1.7 trillion in mining investment

May 10, 2021

Reuters LONDON – Mining companies need to invest nearly $1.7 trillion in the next 15 years to help supply enough copper, cobalt, nickel and other metals needed for the shift to a low carbon world, according to consultancy Wood Mackenzie. The United States, Britain, Japan, Canada and others raised their targets on cutting carbon emissions to halt global

Marathon Oil cuts capital spending by 20 percent after crude prices collapse

March 11, 2020

Houston Chronicle Houston exploration and production company Marathon Oil on Tuesday said it is cutting its 2020 drilling budget by 20 percent, a day after oil prices collapsed to almost $30 per barrel. In reducing planned capital spending to $1.9 billion from $2.4 billion, Marathon said it would spend $1.7 billion on drilling, hydraulic fracturing and other activities in the

ConocoPhillips sets capital spending at less than $7B a year through 2029

November 19, 2019

Houston Chronicle ConocoPhillips said Tuesday it aims to keep its capital spending at an average of less than $7 billion per year through 2029, including selling a 25 percent stake in its large Alaska business in order to keep costs down. The Houston oil and gas producer only wants to see spending rise a bit from its estimated $6.1 billion

Occidental Announces -Andrew Gould Elected to Occidental Board of Directors Oil & Gas 360

Occidental Closes on Anadarko

August 8, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Occidental Petroleum completes its $55 billion takeover of Anadarko Petroleum Occidental Petroleum Corporation (stock ticker: OXY), led by President and CEO Vicki Hollub, has completed its acquisition of Anadarko Petroleum Corporation (stock ticker: APC) in a deal worth $55 billion, including the assumption of Anadarko’s debt. The closing of the transaction

Premium Content