Capex

Oil and gas producers have slashed $150 billion from their capital expenditure (capex) budgets for the Lower 48 states through 2017, a reduction in capex that’s more than three times that spent in any single country, according to an analysis by Wood Mackenzie.

U.S. onshore producers are far and away more stable financially today than they have been since the oil price bust, the Energy Information Administration said Monday.

The global exploration and production (E&P) sector is on pace for major underinvestment through 2020, as companies use cash flows to shore up their balance sheets, according to a report released Wednesday by Deloitte LLP.

The global exploration and production (E&P) sector is on pace for major underinvestment through 2020, as companies use cash flows to shore up their balance sheets, according to a report released Wednesday by Deloitte LLP.

North America’s oil and gas operators, more than any group worldwide, are enduring the “most extreme” capital spending cuts, with expenditures likely to drop by 41% on average from 2015 and the onshore sector seeing the most pain, according to Evercore ISI.

Houston-based Vanguard Natural Resources LLC said it plans to use proceeds from the sale of some assets in the Midcontinent to pay down its debt, while it plans to bump up its capital expenditures (capex) for the remainder of the year to conduct drilling in the Green River Basin’s Pinedale Anticline.

Houston-based Vanguard Natural Resources LLC said it plans to use proceeds from the sale of some assets in the Midcontinent to pay down its debt, while it plans to bump up its capital expenditures (capex) for the remainder of the year to conduct drilling in the Green River Basin’s Pinedale Anticline.

The global oil and natural gas industry has responded to the commodity meltdown with severe curtailments in capital spend, but the level of austerity implemented worldwide is unprecedented and undoubtedly will lead to a supply response, according to a survey of top-tier operators by Raymond James & Associates Inc.

The biggest capital spending reductions in the global oil and natural gas industry are — no surprise — led by producers whose assets are concentrated in the Lower 48 states, Raymond James & Associates Inc. said Monday.