EOG cuts 2016 capex in half
EOG Resources Inc., Houston, reported planned capital expenditures for 2016 of $2.4-2.6 billion, a 45-50% year-over-year reduction. Read Full Article Here For more great articles: Oil & Gas Journal – General Interest
Daily Archives: February 25, 2016
Encana further reduces 2016 budget by 40%, workforce by 20%
Encana Corp., Calgary, will further cut its planned capital budget for 2016 to $900 million-$1 billion, down 40% from its initial budget for the year and 55% from its 2015 capital investment. Read Full Article Here For more great articles: Oil & Gas Journal – General Interest
Bill would loosen Petrobras’s presalt grip
Domination by state-owned Petroleo Brasileiro SA (Petrobras) of presalt licenses offshore Brazil would cease under legislation approved Feb. 24 by the Brazilian Senate. Read Full Article Here For more great articles: Oil & Gas Journal – General Interest
Heerema concludes Ichthys infield installations
Heerema Marine Contractors has completed the infield flowlines installation scope for INPEX’s Ichthys LNG project offshore northwest Australia. Read Full Article Here For more great articles: Offshore RSS Feed
Delek outlines scenarios for deepwater Leviathan project offshore Israel
Noble Energy and its partners have submitted a revised development plan for the deepwater Leviathan gas/condensate field to Israel’s Ministry of National Infrastructures, Energy and Water Resources. Read Full Article Here For more great articles: Offshore RSS Feed
Chesapeake books $15-billion net loss for 2015, slashes 2016 budget by 57%
Chesapeake Energy Corp., Oklahoma City, reported planned total capital expenditures for 2016 of $1.3-1.8 billion, 57% lower than the 2015 level. Read Full Article Here For more great articles: Oil & Gas Journal – General Interest
Premier reviews gas development options offshore Indonesia
Premier Oil is progressing plans for a new phase of gas field developments in the Natuna Sea block A offshore Indonesia. Read Full Article Here For more great articles: Offshore RSS Feed
Statoil discovers more gas near Oseberg offshore Norway
Statoil has proven a new gas accumulation in the Oseberg area of the North Sea. Read Full Article Here For more great articles: Offshore RSS Feed
IHS CERAWeek: Panel emphasizes collaboration for continued offshore evolution
Operators, partners, and contractors must work together to lower costs in an increasingly expensive offshore exploration and production environment further complicated by low crude oil prices. Read Full Article Here For more great articles: Oil & Gas Journal – General Interest
IHS CERAWeek: US shale resilience a product of innovation, CEOs say
Two chief executives who contributed to the US shale boom came together on Feb. 24 to lament the current oversupplied, low-price environment they helped create, and explain how their respective firms have remained resilient in spite of it all. Read Full Article Here For more great articles: Oil & Gas Journal – General Interest