Capital Budget Annoucements News


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Sub-Saharan Africa Capex Could Hit $24B in 2019
Friday, November 09, 2018 CAPEX among Sub-Saharan Africa national oil companies and SSA-focused international oil and gas companies is set to register a 13.1% growth in 2019.

Oil and Gas Optimism Rises for 2019
Tuesday, October 30, 2018 All subsectors of the industry expressed confidence going forward during the industry's continued recovery, according to a Deloitte survey.

Big Oil Resists Urge to Spend
Friday, October 26, 2018 The world's biggest oil companies aren't returning to their spendthrift ways, despite crude's recovery.

$43B Slated for North Sea Projects Through 2025
Thursday, October 25, 2018 Sixty-seven oil and gas projects offshore four North Sea countries should start up through 2025, representing $43.1 billion in investment, according to a new report from GlobalData.

Permian Needs $300B in CAPEX for Growth through 2023
Tuesday, October 02, 2018 A new report by consulting firm Arthur D. Little finds that U.S. independents will need to adjust their business models to keep up with forecasted growth in the Permian.

Move Over, Permian. Bakken's Making a Comeback.
Wednesday, September 26, 2018 North Dakota oil production reached a record high in July and the Bakken is primed for growth.

Does Private Equity Have a Future in Deepwater Gulf of Mexico?
Wednesday, September 19, 2018 New analysis by Wood Mackenzie takes a look at private equity in the US Gulf of Mexico, exploring operational strategies and potential risks.

Weatherford CEO Expects 2018 EBITDA To Nearly Double
Wednesday, September 05, 2018 Weatherford International's full-year earnings before expenses will nearly double from last year, CEO Mark McCollum says.

Permian Pipeline Constraints Cause of $1.4B in Deferred Completion Spend
Tuesday, August 28, 2018 A new quarterly forecast by Westwood finds that pipeline takeaway capacity constraints in the US' hottest shale play will see hundreds of deferred completions through 2019.

Big Oil's Exit Turns into Revival for Norway
Monday, August 27, 2018 The turnaround shows how the changing make-up of Norway's oil industry is putting assets in the hands of new companies willing to invest billions of dollars.

Colombia's Ecopetrol Cuts Planned 2018 Spending To $3-3.5B
Wednesday, August 15, 2018 Ecopetrol says it will invest $3 billion to $3.5 billion during 2018.

Permian Producer Occidental Raises CAPEX Budget, Investors Balk
Thursday, August 09, 2018 Occidental Petroleum says it was raising its capital spending sharply but it maintained a tepid production forecast for the year.

Continental Resources Sees 15-20 Pct Output Growth in 2019
Wednesday, August 08, 2018 A large portion of the company's growth is focused on its SpringBoard development in Oklahoma's SCOOP formation.

Rosneft Sets Cash-Flow Record
Tuesday, August 07, 2018 Rosneft PJSC posts record cash flow in the 2nd quarter.

Big Oil's Winners and Losers Emerge
Wednesday, August 01, 2018 Crude prices rose to 3-year highs, operating costs were down and profit was growing by double or triple digits, but investors still found plenty to complain about in Big Oil's 2Q earnings.

BP Confidently Pursues Growth
Tuesday, July 31, 2018 BP plc churned out more profit than expected in the second quarter.

ConocoPhillips Boosts 2018 Spending, Production Outlook
Thursday, July 26, 2018 ConocoPhillips posts better-than-expected quarterly profit thanks to rising crude prices.

Azeri Oil Fund SOFAZ Reports 9% Rise In Assets To $38.04B
Tuesday, July 17, 2018 Azerbaijan's state oil fund SOFAZ says its assets rose by more than 9% year on year to $38.04 billion as of July 1.

Norway's Aker BP Misses Q2 Forecasts, Ups Exploration Spending
Friday, July 13, 2018 Aker BP will increase its exploration spending plan this year due to new prospects off Norway, the oil firm says.

Weak Start for Vitol's Viva Energy on Australian Bourse
Friday, July 13, 2018 Vitol and its unnamed partners built Viva Energy after buying Shell's former refinery in Geelong near Melbourne and its petrol stations in Australia for $2.6 billion in 2014.

Tullow Told To Pay Seadrill $254MM Over Ghana Dispute
Tuesday, July 03, 2018 A London judge orders Tullow Oil to pay rig owner Seadrill around $254 million.

Rig Firm Fred. Olsen Energy Fails To Win Waiver Extension
Monday, July 02, 2018 The creditors of Oslo-listed Fred. Olsen Energy did not agree to extend a waiver to some of the company's financial covenants that expired on Saturday, the Norwegian drilling rig contractor says.

Santos Set To Resume Dividends Earlier Than Expected, Shares Rise
Thursday, June 28, 2018 Australia's Santos Ltd says it will resume its dividend payment policy earlier than expected.

Tullow Ups 2018 Output Forecast, Provisions For Seadrill Claim
Thursday, June 28, 2018 Tullow Oil raises its 2018 production outlook to 86,000-92,000 barrels of oil per day from 82,000-90,000 bopd.

Spain's Repsol To Boost Production, Hike Dividend In 2020
Wednesday, June 06, 2018 Spanish oil major Repsol expects to increase production to 750,000 barrels per day in 2020 and raise its dividend to $1.2 per share over the next two years.

CAPEX Among Asia's O&G Companies Set to Reach $102B in 2018
Monday, May 21, 2018 CAPEX among Asia's oil and gas companies is set to register a 37% year-on-year increase in 2018, oil and gas analysts at BMI Research confirm.

Report: Petrobras CEO Sees Possible Rise In Capital Spending
Friday, May 18, 2018 Petrobras may raise its capital expenditure program.

Premier Oil Says Debt Reduction On Track As Output Grows
Wednesday, May 16, 2018 Premier Oil says it is heading for a 'material' reduction of its $2.7 billion debt pile, with its Catcher field ramp-up reaching a promised 60,000 barrels per day.

Norway's Odfjell Drilling to Expand Fleet as Rig Market Recovers
Friday, April 20, 2018 Offshore rig firm Odfjell Drilling plans to expand its floating rig fleet to between six and 10 from four now, it said on Friday.

CAPEX Among World's Largest O&G Firms to Rise to Just Under $500B in 2018
Tuesday, April 17, 2018 Capital expenditure (CAPEX) among the world's largest oil and gas companies is due to increase 11.5% year-on-year in 2018 to just under $500 billion, according to oil and gas analysts at BMI Research.

Italy's Eni Plans Investments In Algeria Worth Billions In Next Three Years
Tuesday, April 17, 2018 Eni plans billions of investments in Algeria over the next 3 years, the company's CEO says.

Aramco Takes Step to Integrating Petrochems into US' Biggest Refinery
Monday, April 09, 2018 Saudi Aramco took the first steps to integrating a petrochemicals business into the United States' biggest oil refinery.

Austria's OMV to Invest in UAE Offshore Oilfields in $1.5B Deal with ADNOC
Thursday, April 05, 2018 Austrian oil and gas group OMV said it will take a 20 percent interest in two oilfields off the United Arab Emirates under a $1.5 billion deal agreed with the Gulf state's national oil company ADNOC.

Greece's Energean IPO To Raise $500MM For Israeli Gas Project
Friday, March 16, 2018 Energean Oil & Gas plans to raise about $500 million to develop its Israeli offshore fields through an initial public offering (IPO) in London.

OMV To Spend 10B Euros In Shift Towards Gas, Refining
Tuesday, March 13, 2018 Austrian energy group OMV is ready to spend 10 billion euros to focus more on gas and value-added refined products and grow its business outside Europe, its CEO says.

Aberdeen Services Company Enters Restructuring Agreement
Friday, March 09, 2018 Aberdeen-headquartered energy services firm Proserv enters into a restructuring agreement with its principal lenders, which it says will 'strengthen the long term financial structure of the company'.

Oil Producer Hess To Buy Back $1B Shares
Thursday, March 08, 2018 Hess Corp will buy back $1 billion worth of shares by the end of 2018, becoming the latest U.S. oil and gas producer to do so amid a recovery in oil prices.

Chevron Backs 2018 Production Rise, Eyes Share Buybacks
Tuesday, March 06, 2018 Chevron says it should be able to raise production as planned by between 4 and 7 percent in 2018.

OGA: UK Oil, Gas Industry CAPEX Will Keep Falling Over Next Half Decade
Friday, March 02, 2018 Capital expenditure (CAPEX) in the UK oil and gas industry will keep falling over the next half decade, according to the latest projections from the Oil and Gas Authority (OGA).

Seadrill, Creditors File Joint Restructuring Plan -Court Filing
Monday, February 26, 2018 Oslo-listed rig firm Seadrill and its major creditors file a joint amendment to the company's financial restructuring plan on Monday.

Court Filing: Seadrill Nears Comprehensive Restructuring Deal
Monday, February 12, 2018 Rig firm Seadrill is working towards a comprehensive deal with all its creditors that could be concluded this week.

Algeria's Sonatrach To Invest $56 Bln From 2018 To 2022 - CEO
Thursday, February 08, 2018 Algerian state energy firm Sonatrach will invest $56 billion from 2018 to 2022, its chief executive said on Thursday.

DNO to Increase KRI Spending by 50%
Thursday, February 08, 2018 DNO ASA will increase spending in the Kurdistan Region of Iraq by 50% in 2018 to $250 million.

Statoil Raises Dividend And CAPEX As Oil Sector Picks Up
Wednesday, February 07, 2018 Statoil will raise its dividend, investments and exploration spending in 2018.

Expro Completes Financial Restructuring
Tuesday, February 06, 2018 Expro successfully completes financial restructuring, which will provide the company with a 'stronger and more sustainable financial foundation to grow the business'.

China's CNOOC Plans To Raise Capex By At Least 40% In 2018, Lift Output
Thursday, February 01, 2018 CNOOC plans to ramp up spending by at least 40% in 2018, as well as raise production, thanks to a more 'suitable' oil price.

Seadrill Postpones Restructuring Plan Hearing Until Feb. 7
Thursday, January 25, 2018 Drilling rig company Seadrill has again postponed an initial hearing on its restructuring plan.

Norway's Aker BP Raises 2018 Dividend Forecast, More To Come
Monday, January 15, 2018 Aker BP will pay out $450 million in dividends for 2018, $100 million more than previously indicated.

Aker Completes Senior Unsecured Bond Issue
Friday, January 12, 2018 Oil and gas services company Aker Solutions successfully completes a $188 million (NOK 1.5 billion) senior unsecured bond issue.

Liberty Oilfield Services CEO Sees Muted Response To Crude Price Rise
Friday, January 12, 2018 Oil producers are unlikely to significantly expand drilling budgets this year despite the recent run-up in crude prices, Liberty Oilfield Services' CEO says.