News Topics: Capital Budget Annoucements

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Analysts: US E&P CAPEX Hits Bottom
Friday, August 26, 2016 Analysts say US E&P CAPEX has bottomed out, setting the stage for production growth as early as this year.

Thailand's PTTEP Cuts 2016 Investment Budget 15% To $1.7B
Tuesday, August 23, 2016 Thailand's largest oil and gas explorer, PTT Exploration and Production has cut its 2016 investment budget to $1.7 billion from $2 billion due to a cost reduction measure, an executive says.

CEO: Indonesia's Pertamina To Invest $1.5B In Mahakam In 2017
Tuesday, August 23, 2016 Indonesia's Pertamina plans to invest around $1.5 billion in the Mahakam gas block in 2017, the chief executive of the state-owned energy company says.

Baron Oil Receives Infrastrata Loan Repayment, Amends CLF Agreement
Friday, August 19, 2016 Baron Oil plc receives repayment of its loan to Infrastrata plc and agrees an amendment to the Convertible Loan Facility Agreement.

Trinity Subsidiaries File for Bankruptcy
Wednesday, August 17, 2016 Trinity Exploration & Production plc announce that a number of its wholly-owned subsidiaries have filed for bankruptcy.

Santos to Set Aside $1B in Impairment Charge for Queensland's GLNG Project
Monday, August 15, 2016 Santos to set aside $1.05 billion in impairment charge for the Gladstone liquefied natural gas (GLNG) project in Queensland, Australia following a review of its key production assets.

Sabine Oil & Gas Emerges from Bankruptcy as Private Company
Friday, August 12, 2016 Sabine Oil & Gas Corporation confirms that its Chapter 11 Plan of Reorganization is now effective and revealed that it has emerged from bankruptcy as a private company.

Parex Increases Upstream Spend, Expects to Drill 11 Colombian Wells in 2H
Thursday, August 11, 2016 Parex Resources Inc will increase its upstream spend in the second half of 2016, drilling 11 wells in Colombia in the process.

OMV Intensifies Investment, Cost Cuts As Oil Price Weighs
Wednesday, August 10, 2016 OMV is cutting its investments and costs further to counteract low oil prices which have sent its adjusted second-quarter operating profit down 43 percent to $238.67 million.

Apache Deploys Additional Capital As Oil Prices Improve
Thursday, August 04, 2016 Apache said it started deploying additional capital and expected spending this year to be at the higher end of its forecast range, given "modest signs of improvement" in oil prices.

Russia's Sberbank, VTB, Otkritie, BCS, Aton Among Russneft IPO Arrangers
Thursday, August 04, 2016 Russian state banks Sberbank and VTB, as well as the country's largest private lender FC Otkritie along with brokerages BCS and Aton are among those who will arrange the IPO of Russneft.

Canada's Oil Sands CAPEX Could Reach $40.6B by 2025
Wednesday, August 03, 2016 Research and consulting firm GlobalData says 6 new oil sands projects and expansion of 11 others will propel Canadian sector forward, after Alberta wildfires drove down production.

Shell Misses Expectations As Earnings Plunge On Oil, BG Costs
Thursday, July 28, 2016 Royal Dutch Shell missed quarterly profit expectations by more than $1 billion after reporting a 72% plunge in earnings due to weak oil prices and high costs following its $54 billion takeover of BG Group.

Pemex Losses Accumulate as Oil Production Hits Record Low
Thursday, July 28, 2016 Pemex adds to more than three years of losses as a cash injection from the government wasn't enough to overcome the pinch of record-low crude output, refinery upsets and a petrochemical plant explosion.

Strong Upstream Performance from European Majors
Thursday, July 28, 2016 French and Spanish oil majors Total and Repsol deliver second-quarter results that display a strong performance from their upstream operations.

State Media: China's CNPC To Cut 2016-2020 Annual Investment By Around 40%
Wednesday, July 27, 2016 China National Petroleum Corp. (CNPC) will cut its annual investment between 2016 and 2020 to about $39 billion, down around 40 percent from the 2011-2015 period, state media says.

Statoil Second Quarter Lags Forecasts, Cuts 2016 Capex Outlook
Wednesday, July 27, 2016 Norway's Statoil cuts its 2016 capital spending guidance as it posts earnings well below forecasts.

Shell Philippines Files for $629M IPO, Eyes Nov Listing
Tuesday, July 26, 2016 Pilipinas Shell Petroleum Corporation files for an initial public offering of its shares that may raise as much as $629 million in one of the Philippines' largest stock market listings.

British Oil Major BP Pursues New Projects Despite Profit Miss
Tuesday, July 26, 2016 BP will forge ahead with at least three more new projects this year, its CEO says, despite reporting a 45 percent drop in second-quarter earnings that prompted a cut in its 2016 investment budget to below $17 billion.

Canada's Encana Posts Smaller Loss, Raises 2016 Capital Spend Plan
Thursday, July 21, 2016 Canadian oil and gas producer Encana Corporation reports a smaller quarterly loss thanks to its ongoing cost-cutting drive.

Saudi Aramco Signs Contracts to Build $13B Fadhili Gas Project
Wednesday, July 20, 2016 State oil giant Saudi Aramco signed four engineering contracts to build its Fadhili gas processing project, the company says.

BHP Billiton Cuts Petroleum CAPEX by 44% in FY2017 to $1.4B
Wednesday, July 20, 2016 BHP Billiton cuts oil and gas capital expenditure (CAPEX) by 44 percent in financial year 2017 to $1.4 billion, compared to $2.5 billion in the previous year.

C&J Energy Files for Bankruptcy to Cut $1.4B in Debt
Wednesday, July 20, 2016 C&J Energy Services files for US Chapter 11 bankruptcy protection with an agreement with its lenders to swap $1.4 billion in debt for ownership of the reorganized company.

CNR Puts Off Planned Ivory Coast Investment Over Low Oil Prices
Tuesday, July 19, 2016 Canadian Natural Resources is postponing $300-400 million in planned investment on its Ivory Coast offshore blocks pending a rebound in crude prices, its general manager in the West African nation says.

Brazil Has No Plans to Privatize Petrobras, CEO Says
Monday, July 18, 2016 The Brazilian government has no plans to privatize Petroleo Brasileiro and is still deciding whether to sell its controlling share in several units to shore up its finances, the company's CEO says.

Pan American Energy to Invest $1.4B in Argentina this Year
Thursday, July 14, 2016 Pan American Energy, a unit of BP, is planning to invest $1.4 billion in Argentina's biggest oil field and other areas this year, two sources say.

Bondholders to Take Control of Kurdish Oil Firm Gulf Keystone
Thursday, July 14, 2016 Kurdistan-focused oil producer Gulf Keystone is set to be taken over by its bondholders.

IPM, Partnership Fund to Invest $100M in Energy Projects in Georgia
Wednesday, July 13, 2016 Fund management and advisory company InfraPartners Management and Georgia's Partnership fund plan to invest $100 million in renewable energy-related infrastructure in the ex-Soviet country, the firm says.

KKR's Mexican Oil Deal Kicks Off New Era in Funding for Pemex
Friday, July 08, 2016 The biggest corporate issuer of bonds in emerging markets appears to be taking a breather.

Tullow Announces $300M Bond Offer
Wednesday, July 06, 2016 Tullow Oil plc announces the launch of an offering of $300 million of convertible bonds, due 2021, which will be used to fund capital investment in the group's assets in West and East Africa.

EBRD Gives $20M Loan To Greece's Sole Oil Producer
Tuesday, July 05, 2016 The European Bank for Reconstruction and Development signs a $20 million loan deal with Greece's privately-owned Energean Oil & Gas, the country's sole oil producer, to support existing and new projects.

Azerbaijan's SOCAR Reports $1.15B Net Loss For 2015
Friday, July 01, 2016 Azeri state energy company SOCAR reports a $1.15 billion (1.785 billion manat) net loss for 2015, compared to a 1.274 billion manat net profit a year earlier, the company said on Friday.

Premier Oil Defers Test Of Financial Covenants
Friday, July 01, 2016 Premier Oil Plc, which is in talks with its lending group on the terms of its existing financial facilities, says the lending group has agreed to defer the test of its financial covenants.

Saudi Aramco Cuts All August Oil Prices for US, Asian Clients
Thursday, June 30, 2016 Saudi Arabia, the world's largest crude exporter, cut all official selling prices for its crude sales to Asian and US clients in August.

Magnolia Petroleum Acquires Assets from Famcor Oil
Thursday, June 30, 2016 Magnolia Petroleum Company has acquired all assets from Houston-based Famcor Oil, including 70 operated wells.


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