XTO Energy Inc. expects to grow its natural gas-heavy production base about 12% more than last year, with more than half of its development budget directed to East Texas activities. Meanwhile, Magnum Hunter Resources Inc. raised its week-old fourth quarter forecast, calling the previous estimate too conservative. And for smaller independent Remington Oil & Gas Co., recent exploratory successes have convinced the company to add more to its capital budget.
Budgets
Articles from Budgets
RBC: Producers’ Gas Concerns to Cut ’03 E&P Spending 5%
Earlier estimates that North American E&Ps would boost their budgets in 2003 as much as 20% were about 5% too optimistic, because producers continue to be concerned about near-term natural gas prices, surplus gas storage and a lack of drilling prospects, according to research by RBC Capital Markets.
September 23, 2002
RBC: Producers’ Gas Concerns to Cut ’03 E&P Spending 5%
Earlier estimates that North American E&Ps would boost their budgets in 2003 as much as 20% were about 5% too optimistic, because producers continue to be concerned about near-term natural gas prices, surplus gas storage and a lack of drilling prospects, according to research by RBC Capital Markets.
September 18, 2002
Independents Begin Setting Guidance, Budgets for ’02
XTO Energy Inc., Denbury Resources Inc. and Marathon Oil Corp. on Friday indicated they expect to keep production levels up this year, although investment in new opportunities may be delayed until commodity prices rise.
February 4, 2002
Noble, Kerr McGee Raise Spending Plans
Independents Noble Affiliates and Kerr McGee Corp. have sharplyincreased their capital investment budgets this year. Kerr-McGee isbudgeting a record $1.24 billion for capital expenditures in 2001,a 60% increase from the company’s 2000 capital expenditures, andNoble’s spending is being increased 40%, with 60% of the $700million being used for developmental projects.
January 10, 2001
Producers Put Up Big Dollars for New Nova Scotia Exploration
Producers put up healthy exploration budgets to show natural gasdevelopment has only begun on Canada’s East Coast with the SableOffshore Energy Project and Maritimes & Northeast Pipeline. Ahighly successful auction of drilling prospects offshore of NovaScotia also confirmed faith in the region that the merger of ExxonCorp. and Mobil Corp. will not cause a contraction of the buddingeastern Canadian gas industry.
May 10, 1999
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