Capital Budget Annoucements News


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US Shale Operators Cut CAPEX, Up Production
Friday, March 01, 2019 Analysis from Rystad Energy reveals a boost in production and a decrease in capital spending for U.S. shale companies in 2019.

Saudi Aramco Reaffirms China Interest with $10B Refinery Deal
Friday, February 22, 2019 Saudi Arabia is vying for crude oil customers with fellow OPEC members and Russia.

America's Shale Boom Keeps Rolling
Wednesday, February 20, 2019 America's surging shale oil production shows little sign of abating, despite industrywide spending cuts.

Carnarvon Conducting Placement to Raise $50MM
Wednesday, February 13, 2019 Carnarvon Petroleum Limited is conducting a placement to 'institutional and sophisticated investors' to raise approximately $50 million.

Kuwait Petroleum to Reassess $500B Spending Plan
Monday, February 11, 2019 Kuwait Petroleum Corp. is reassessing plans to spend about $500 billion in capital investment and may decide this year to combine its eight business units.

Apache Cuts 2019 Upstream Capital Budget
Friday, February 08, 2019 The US E&P has cut CAPEX from $3 billion to $2.4 billion.

MEG to Cut Spending and Shuffle Board
Tuesday, January 22, 2019 Fresh off defeating a hostile takeover bid, MEG Energy is slashing capital spending and reviewing the makeup of its board.

Canadian Oil Surge Fails to Lift Producers
Monday, January 21, 2019 Alberta's crude curtailment plan has caused a dramatic rise in the price of heavy Canadian oil.

MEG Plans to Spend Less and Boost Oil Output
Friday, January 18, 2019 MEG Energy Corp. looks to be on its own again after Husky Energy Inc. pulled its hostile bid for the Canadian oil-sands producer.

Sinopec Said to Get Retail IPO Green Light
Monday, January 14, 2019 Sinopec's retail operations include more than 30,600 fuel stations and nearly 27,000 convenience stores.

Chevron Capex Highlights Permian
Monday, January 14, 2019 Chevron's capital budget underscores the importance of shale, particularly in the Permian Basin.

Chesapeake to Cut Rigs to Reduce CAPEX in 2019
Thursday, January 10, 2019 The Oklahoma City-based E&P company is lowering its rig count by 20% in 2019.

Oil Giant to Issue First Global Bond in 2019
Thursday, January 10, 2019 Saudi Aramco plans to tap the debt market in 2Q to finance the acquisition of Sabic, likely issuing its first ever international bond and disclosing its accounts in the process.

Five Things to Watch in European Oil in 2019
Thursday, December 20, 2018 European oil and gas stocks are about to close what would have been their best year since 2014 - if only the last quarter had behaved.

ConocoPhillips Plans for $6.1B Capital Spend in 2019
Monday, December 10, 2018 ConocoPhillips is keeping capital expenditures flat in 2019 while anticipating a production surge.

Chevron Boosts Spending on Shale Projects
Friday, December 07, 2018 Chevron raises its spending budget for the first time since 2014.

Shale Patch Will Likely Cut Budgets Next Year
Thursday, November 29, 2018 Shale explorers will likely cut spending budgets next year for the first time since the last price crash as crude spirals down again, analysts said.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.