Budget

Wyoming’s Declining Fossil Fuel Revenue Contributes to $1B Budget Deficit

Wyoming’s Declining Fossil Fuel Revenue Contributes to $1B Budget Deficit

Facing a $1 billion budget deficit in part linked to a decline in revenue from the energy sector, Wyoming Gov. Mark Gordon has ordered a 10% budget cut across the board. Given the budget challenges from the coronavirus and the economic slowdown, “the quicker we act, the greater ability the state will have to minimize…

July 15, 2020
4Q2019 Earnings: Gulfport Announces Steep Capex Cuts, Forecasts Production Decline

4Q2019 Earnings: Gulfport Announces Steep Capex Cuts, Forecasts Production Decline

Gulfport Energy Corp. plans to slash spending to the bone this year and cut annual production in the process as it wrestles with low natural gas prices and a restive shareholder pushing to shake up the board.

March 4, 2020

BLM to Receive $199M to Manage Lower 48 Oil, Natural Gas Programs in Trump Proposal

President Trump on Monday proposed allocating $199.3 million to the Interior Department’s energy and minerals management programs, including $139.2 million for Bureau of Land Management (BLM) oil and natural gas programs.

February 10, 2020

BHP Sanctions Atlantis Expansion in U.S. Deepwater, Trion in Mexico GOM

BHP on Wednesday approved spending of close to $956 million for two Gulf of Mexico (GOM) expansion projects, one in U.S. deepwater and the other in Mexico waters.

February 13, 2019
Continental Cuts Capital, Extends Laterals on Project SpringBoard

Continental Cuts Capital, Extends Laterals on Project SpringBoard

Continental Resources Inc. said it expects to save about $125 million in capital costs by shifting to 30% longer laterals within Project SpringBoard, a multi-year program to develop its oil and liquids-rich assets in Oklahoma’s myriad stacked reservoirs.

January 30, 2019
Gulfport Joins Peers, Cuts 2019 Spending Amid Market Volatility

Gulfport Joins Peers, Cuts 2019 Spending Amid Market Volatility

Gulfport Energy Corp. plans to slash spending this year and keep production flat to 2018 levels with a program that generates free cash flow and showcases capital discipline in response to market volatility.

January 18, 2019
Antero Slashes Appalachian Spend on Lower Oil, NGL Prices

Antero Slashes Appalachian Spend on Lower Oil, NGL Prices

Appalachian pure-play Antero Resources Corp. plans to cut its capital spending and development activity this year in response to sliding oil and natural gas liquids (NGL) prices.

January 9, 2019

Ring Energy Planning One-Rig Program in Permian Next Year

Permian Basin pure-play Ring Energy Inc. is planning to run only one rig during 2019, as it works to turn cash flow neutral/positive in the second half of the year, while still growing production an estimated 20% year/year.

December 20, 2018

Permian Operator Diamondback Pulls in Reins on ‘Dramatic Decline’ in Oil Prices

Permian Basin pure-play Diamondback Energy Inc. has dropped three rigs, reduced completion crews and plans conservative spending in 2019 because of the “dramatic decline” in oil prices.

December 19, 2018

Enbridge Unveils North American Plans to Expand Oil, Natural Gas Pipeline Network

Enbridge Inc. has unveiled a $1.8 billion growth budget for its oil and natural gas pipelines, with additions at the northern and southern ends of the network in Alberta and the Gulf of Mexico region.

December 12, 2018
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