Post Tagged with: "capital expenditures"

Source: Houston Chronicle

Marathon Oil cuts drilling budget amid 56 percent drop in profit

Houston Chronicle


Houston exploration and production company Marathon Oil has cut its drilling budget by about 10 percent amid an ongoing shale slump that caused revenue and profits to decline in 2019.

In a Wednesday afternoon statement, Marathon said the …

Source: Abraxas Petroleum

Saltstone Capital Pens Scathing Letter to Abraxas Petroleum

By Tyler Losier, Energy Reporter, Oil & Gas 360

Saltstone Capital Management calls for special committee of the board to review strategic alternatives
Billy Bailey, founder and portfolio manager for Saltstone Capital Management LLC, penned a scathing letter to Abraxas

Occidental and Ecopetrol Team Up in the Midland

Occidental and Ecopetrol Team Up in the Midland

By Tyler Losier, Energy Reporter, Oil & Gas 360

Occidental Petroleum and Ecopetrol S.A. form joint venture in the Midland Basin
Occidental Petroleum Corporation (stock ticker: OXY), the fourth largest public E&P by market capitalization, has formed a joint venture

Source: PRNewsfoto/Contura Energy

Contura Energy Appoints New CEO and Board Member

By Tyler Losier, Energy Reporter, Oil & Gas 360

Contura Energy selects David J. Stetson as its new CEO and as a member of its board of directors
Contura Energy (stock ticker: CTRA), a Tennessee-based coal supplier, has unanimously elected

Source: Bayou City Energy

Vanguard Emerges from Chapter 11 as Grizzly Energy

By Tyler Losier, Energy Reporter, Oil & Gas 360

Vanguard Natural Resources completes financial restructuring, emerges as Grizzly Energy
Vanguard Natural Resources, a Houston-based onshore energy company, has successfully completed its Chapter 11 financial restructuring process, emerging as a new

Bonanza Creek Hits High Water Marks

Bonanza Creek Hits High Water Marks

Bonanza Creek Energy, Inc. (ticker: BCEI) exceeded the company’s high-end of Q4 2017 estimates by producing 14.8 MBOEPD. The company is expecting Rockies production to grow by 20% in 2018 and in 2019 Bonanza Creek said it expects an increase …

Range Resources Releases 2018 CapEx, Proved Reserves Update

Range Resources Releases 2018 CapEx, Proved Reserves Update

Approximately 80% of 2018 capital is projected to be spent in the Marcellus, generating greater than 25% growth

Range Resources Corporation (ticker: RRC) announced a 2018 capital budget of $941 million, which is below anticipated 2018 cash flow at current …

Oil and Gas Capex Set to Rise for the First Time Since 2014

Oil and Gas Capex Set to Rise for the First Time Since 2014

BMI Research forecasts 2.5% increase in oil and gas capex for 2017

The oil and gas industry is expected to increase spending next year for the first time following the crash in oil prices at the end of 2014, according …

2016 Budget Cuts Underway as Oil & Gas Majors Slash Billions in Capex

2016 Budget Cuts Underway as Oil & Gas Majors Slash Billions in Capex

CLR, HES, NBL, and WMB Slash Nearly $6.6 Billion in 2016 Plans

Lower year-over-year spending in 2016 was a foregone conclusion for many in the exploration and production space, but the amount of expenditure cuts is noteworthy, no matter how …

Colorado Wattenberg Field: Preparing a horizontal drilling rig - Oil & Gas 360

Oil & Gas Industry Looks to 2016 for Answers

Survey of Energy Industry Executives and Investment Professionals Focused on the Oil & Gas Industry

In December, Oil & Gas 360® conducted a survey of industry executives and investors. We asked respondents to predict commodities pricing for 2016, as well …