News Topics: Capital Budget Annoucements

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Rex International Holding Cuts Capex, Focuses on Oman and Norway Assets
Thursday, August 20, 2015 Singapore-listed Rex International Holding cuts capital investments and focus on key assets in Oman and Norway as it adapts to lower oil prices.

Australia's Santos Denies Plans to Launch Equity Raising
Monday, August 17, 2015 Santos denies plans to launch an equity raising, adding that it retains ample liquidity.

Sources: UAE's TAQA Close to Signing $3.1B Loan
Wednesday, August 12, 2015 TAQA is close to completing a $3.1-billion five-year loan that will be used to consolidate existing debts into a new, lower-cost facility.

Origin Energy Writes Down $244.7M on Australian Upstream Assets
Wednesday, August 12, 2015 Origin Energy writes down $244.7 million on its upstream assets in Australia.

Tethys Financing Deal with AGR Falls Through, Talks with Nostrum
Monday, August 10, 2015 Central Asia-focused Tethys Petroleum says its $47.7-million financing deal with AGR Energy has fallen through, but the firm is now in talks with Nostrum Oil & Gas.

Shell Eyes New Brazilian Assets Ahead Of BG Deal
Friday, August 07, 2015 Shell is considering investing billions in Brazil ahead of its BG Group takeover.

Russia's Rosneft 2015 Investment Program based on Oil of $50 per Barrel
Thursday, August 06, 2015 Russia's Rosneft says it will base its 2015 business plan on an oil price of $50 per barrel.

Surge Energy Revenue Drops, Production Increases
Thursday, August 06, 2015 Surge Energy's revenue drops 37% in the second quarter of 2015, compared to the same period last year, despite a production increase of 8% compared to 2Q 2014.

SOCO Net Profit, Production Down
Wednesday, August 05, 2015 SOCO reveals that its net profit and production for the first half of 2015 decreased, compared to the same period last year.

Lundin Cuts 2015 Production Forecasts
Wednesday, August 05, 2015 Lundin Petroleum cuts its production guidance from previous forecasts of between 41,000 to 51,000 barrels of oil equivalents per day to 32,000 boepd.

Gran Tierra Energy Reveals $38.6 Million Net Loss
Wednesday, August 05, 2015 Gran Tierra Energy suffers a $38.6 million net loss in the second quarter of 2015.

Goodrich Petroleum Posts $12.9 Million Adjusted Revenues Loss
Wednesday, August 05, 2015 Goodrich Petroleum's adjusted revenues in the second quarter of 2015 were $12.9 million lower than the same period last year.

Origin Energy to Sell 53.09% Stake in NZ's Contact Energy for $1.18B
Tuesday, August 04, 2015 Australia's Origin Energy agrees to sell its entire 53.09 percent interest in New Zealand's Contact Energy for $1.18 billion, with the proceeds to be used to reduce cost and debt.

Diamond Offshore Drilling Revenues Drop, Net Income Rises
Monday, August 03, 2015 Diamond Offshore Drilling announces a $58 million revenue loss and slight net income increase in the second quarter of 2015, compared to the same period last year.

Canadian Oil Sands Producer Athabasca Oil Cuts Capex
Friday, July 31, 2015 Canada's Athabasca Oil, which processes oil sands to produce crude, says it would cut its capital expenditure by nearly 5 percent as oil prices stay low.

BG Group Posts 58% Earnings Slump, Increases Production
Friday, July 31, 2015 BG Group, soon to be part of Shell, reveals a 58% earnings slump in the first half of 2015, compared to the same period last year.

Oil Producer Afren's Board to Put Company into Administration
Friday, July 31, 2015 Africa-focused independent producer Afren's board decide to put the company into administration after failing to secure support for a restructuring plan.

Range Resources Increases Production, Revenue
Friday, July 31, 2015 Range Resources' oil and gas production in Trinidad rises by 8% in the second quarter of 2015, compared to the previous quarter, resulting in a revenue increase.

TGS: $65 Million Revenue Loss in 2Q 2015
Thursday, July 30, 2015 TGS reveals a net revenue loss of $65 million in the second quarter of 2015, compared to the same period last year.

Spain's Repsol Says to Maintain Capex Thanks to Talisman
Thursday, July 30, 2015 Spain's Repsol will maintain exploration capex at around $4.5 billion this year and next thanks to its takeover of Talisman.

Shell, Centrica to Cut More Than 12,000 Jobs by 2020
Thursday, July 30, 2015 Shell and Centrica reveal plans to axe more than 12,000 jobs by 2020.

LINN Energy Drops Distributions, Investors Follow
Thursday, July 30, 2015 Linn Energy cuts its regular distributions to investors, likely drawing the attention of other upstream master limited partnerships.

Australia's Beach Energy Reduces Production Volume, Capex for FY16
Wednesday, July 29, 2015 Australia's Beach Energy reduces production volumes and capital expenditure in its latest guidance for financial year 2016.

Subsea 7 to Cut Costs by $550 Million, Increases Vessel Reduction Plan
Wednesday, July 29, 2015 Subsea 7 will cut costs by approximately $550 million by early 2016, confirming plans to axe employees and vessels first announced in May this year.

European Majors Reap Benefits of Cost-Cutting Measures
Tuesday, July 28, 2015 Statoil and BP are reaping the benefits of cost cutting across their operations.

Weatherford Raises Layoffs Target to 11,000
Thursday, July 23, 2015 Weatherford increases its worker layoff target to 11,000 as weakness in the North American oilfield service market activity continues.

Victoria Oil & Gas Almost Triples its Daily Gas Production
Thursday, July 23, 2015 Victoria Oil & Gas almost triples its daily gas production in 2Q 2015, compared to the first quarter of the year.

Europa Raises Funds Ahead of UK, Irish License Awards
Thursday, July 23, 2015 Europa raises funds ahead of license round awards in the UK and Ireland.

PGS Reveals $80 Million Year-on-Year Revenue Loss in 2Q 2015
Thursday, July 23, 2015 PGS reveals a revenue loss of over $80 Million in 2Q 2015, compared to the same period last year.

FT: Shell Expected to Reduce Capex for the Year
Monday, July 20, 2015 Shell, which is all set to acquire rival BG, may cut its capital expenditure for the year by several billion dollars from the previously announced $33 billion figure, the Financial Times reports.

Conoco Says Cutting Deepwater Spending, Dividend Up A Penny
Thursday, July 16, 2015 ConocoPhillips says it will reduce future spending on deepwater drilling due to low crude oil prices, and also raise its dividend 1 cent.

Sabine Oil & Gas Files for Bankruptcy
Wednesday, July 15, 2015 Sabine Oil & Gas Corporation files for bankruptcy to facilitate the restructuring of its balance sheet.

BHP Says Will Take $2B Charge On US Onshore Energy Business
Wednesday, July 15, 2015 BHP Billiton says it will take a $2 billion impairment on its US shale operations - the third writedown in three years.

Thai Star Petroleum to Raise Up To $735M from IPO in 4Q
Tuesday, July 14, 2015 Star Petroleum could raises up to $735 million in an initial public offering that will mark the exit from the business of Thailand's PTT.

S&P Keeps Negative Bias on Petrobras After New Business Plan
Tuesday, July 14, 2015 Standard & Poor's reiterates a negative outlook for Brazil's Petrobras, signaling the state-run oil company might soon lose its investment-grade rating despite its recent efforts to cut debt and restore investor confidence.

India Oil Ministry Sees 2015/16 Upstream Subsidy at 50-60B Rupees
Monday, July 13, 2015 India expects a subsidy burden of between $788 million and $946 million for its state-run oil and gas producers this fiscal year.

Oilex Announces Plans to Raise $23 Million to Fund India Operations
Wednesday, July 08, 2015 Oilex announces a two tranche placement and underwritten rights issue to raise $23 million dollars, which will be used to fund operations at India's Cambay and Bhandut fields.

Petrobras May Sell Braskem Stake, Build Tax Provisions, Valor Says
Monday, July 06, 2015 Petroleo Brasileiro could sell a stake in resin producer Braskem in order to build provision against tax debts nearing $12.7 billion.

Bumi Armada Allocates More Funds from Rights Issue to FPSO, FGS Units
Thursday, July 02, 2015 Malaysia's Bumi Armada allocates more funds raised from a rights issue on its floating production, storage and offloading as well as floating gas solutions business units.

AGR Energy Takes Controlling Stake in Tethys Petroleum
Wednesday, July 01, 2015 Central Asia-focused Tethys Petroleum raises a much-needed $48 million via a share placing with Kazakhstan's AGR Energy.

Petrobras History of Failed Plans Raises Doubt over New Promises
Wednesday, July 01, 2015 Brazil's state-run oil company Petroleo Brasileiro's history of failed spending and output plans may be the biggest obstacle to its efforts to convince investors it will reduce its debt.


 
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