News Topics: Capital Budget Annoucements

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Hess To Spend More On Exploration And Production This Year
Thursday, January 12, 2017 Hess budgets $2.25 billion for exploration and production this year, higher than the $1.9 billion it spent in 2016.

Barclays Forecasts Investors May Shift, Favor Oilfield Services
Monday, January 09, 2017 Analysts upgrade oilfield services from neutral to positive as under-owned sector poised to benefit from North America's 27% E&P spending boost.

Bonanza Creek, Other U.S. Energy Firms Announce Chapter 11 Plans
Friday, December 23, 2016 Oil and gas producer Bonanza Creek Energy said it would file for bankruptcy on or before Jan. 5, joining a long list of energy companies that have succumbed to a drop in oil prices.

Chevron Plans $19.8B Capital, Exploratory Budget for 2017
Thursday, December 08, 2016 Some $11.6 billion of Chevron's $19.8-billion capital spending plan will target international upstream projects.

A Resilient Apache Strikes Oil In Overlooked Texas Field
Wednesday, September 07, 2016 Apache announces a major oil discovery in Texas, the latest sign the strongest shale companies are not only surviving the steepest price crash in a generation, but growing despite it.

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.

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.

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.

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.

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.

Study: Mid-Market Oil, Gas Companies Face Long Road to Recovery
Tuesday, June 28, 2016 Mid-market oil and gas companies will take time to recover from the recent downturn in oil and gas prices, a recent BDO study finds.

Deloitte: Debt, Shareholder Payouts May Take Priority Over CAPEX Spending
Thursday, June 16, 2016 A recovery in oil prices may not translate into more spending as companies face debt repayment and shareholder payout obligations.

Shell to Limit Capital Spending Through 2020
Tuesday, June 07, 2016 Shell management seeks to limit its capital spending through 2020 as it reshapes the company to enhance capital efficiency.

Energy Bet of $459B Seen as Overlooked Risk for Insurers
Tuesday, May 24, 2016 US insurers are risking financial stability by holding $459 billion of energy-related investments without considering the "broad and deep" threat that climate change poses to the assets, according to an environmental advocacy group.

Waste Stream Provider BlueJack Receives Millions of Dollars in PE Funding
Tuesday, May 24, 2016 Waste stream management solutions provider BlueJack Energy receives an initial equity commitment of up to $100 million from Energy Spectrum Capital.

Climate Change Takes Center Stage at Exxon, Chevron Annual Meetings
Tuesday, May 24, 2016 Exxon Mobil Corp and Chevron will face their toughest-ever push by shareholders concerned about a warming world at annual meetings on Wednesday.

Freeport's Oil and Gas Business Scraps IPO
Friday, May 20, 2016 Freeport-McMoRan's oil and gas business has withdrawn its initial public offering as weak oil prices dent valuations of oil producers.

AEP Says Spin Offs Won't Be Hit by Closure of McClendon's Firm
Thursday, May 19, 2016 The closure of American Energy Partners after the sudden death of founder Aubrey McClendon will not affect companies it formed and spun off with Texas-based private equity firm Energy & Minerals Group, according to an AEP statement seen on Thursday.

Halcon Reaches Pact with Creditors on Prepackaged Bankruptcy Plan
Wednesday, May 18, 2016 Halcón Resources, which produces oil in Texas and North Dakota, says it plans to file for a prepackaged bankruptcy that would wipe out $1.8 billion in debt and help it survive the drop in crude prices.

Halcon Resources to Restructure Through Chapter 11 Filing
Wednesday, May 18, 2016 Oil and gas company Halcon Resources says it will for a prepackaged Chapter 11 bankruptcy to restructure its balance sheet and eliminate $1.8 billion in debt.

Samson Resources' Banks to Gain Ownership in New Bankruptcy Plan
Tuesday, May 17, 2016 Samson Resources, one of the largest energy companies to file for bankruptcy in the commodity downturn, proposed a new Chapter 11 exit plan on Tuesday that would swap ownership of the natural gas producer to banks in return for reducing debt.

Halliburton Joins Schlumberger in Cutting Venezuelan Activity
Friday, May 06, 2016 Halliburton has joined rival Schlumberger in curbing activity in Venezuela due to lack of payment during the oil industry’s worst financial crisis.

CEO: EOG Can Post 'Strong Returns' at $40 Oil
Friday, May 06, 2016 EOG Resources has the ability to post strong returns with oil prices around $40 a barrel, and would post triple-digit returns should prices spike to $60, Chairman and Chief Executive Bill Thomas told investors on Friday.

Noble Energy May Lift US Shale Spend if Oil Breaches $50 Per Barrel
Wednesday, May 04, 2016 US oil and gas producer Noble Energy says it expects to spend less than the $1.5 billion it had budgeted for the year, but would consider spending more on US shale assets if crude oil prices moved and stayed above $50 per barrel.

Devon Ready to Boost Drilling, Spending If Oil Prices Keep Climbing
Wednesday, May 04, 2016 Devon Energy will ramp up drilling and spending if oil prices continue to recover, executives said on Wednesday, joining a growing list of companies expecting an increase in activity as the commodity price picture improves.

Chesapeake Gets Credit Lifeline But Troubles Remain
Friday, April 15, 2016 Chesapeake Energy stocks and bonds stage rally after lenders quash fears of a bankruptcy.

Energy XXI Files for Bankruptcy
Thursday, April 14, 2016 U.S. oil and gas producer Energy XXI Ltd files for bankruptcy protection, becoming one of the biggest casualties of the oil rout to date.

Chesapeake Surprises By Keeping $4B Borrowing Base
Monday, April 11, 2016 Chesapeake surprises investors by keeping its $4 billion loan from banks despite concerns about its liquidity position at a time when many oil and gas producers are seeing their credit cut.

National Oilwell Slashes Dividend by 89% amid Oil Slump
Monday, April 11, 2016 National Oilwell Varco Inc will cut its quarterly dividend by 89% as the company struggles to cope with a prolonged slump in oil prices.

Superior Energy Eliminates Dividend
Thursday, March 31, 2016 Oilfield services provider Superior Energy Services says it has approved the elimination of its quarterly dividend as it looks to shore up its finances amid a prolonged oil price slump.

EXCO Resources says Borrowing Base Cut by 13% to $325M
Wednesday, March 30, 2016 EXCO Resources Inc says its lenders have cut its borrowing base by 13% to $325 million amid a slump in oil prices.


 
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