EQT Corp. has suspended its quarterly dividends, while Basic Energy Services Inc. has cut spending by 60% and begun closing some locations, as the global oil and gas industry defends against forces that were unforeseen only three months ago.
Capex
Articles from Capex
NGI The Weekly Gas Market Report
Equinor Halts U.S. Onshore Activity, Joining Oxy, Eni, Aramco in Pullback as Coronavirus Consumes Energy Demand
Equinor ASA’s Lower 48 operations, mostly centered in the Marcellus and Bakken shales, have been suspended, as it attempts to stem the bleeding across the energy sector from the global pandemic and stinging oil price war.
NGI The Weekly Gas Market Report
Chevron Cuts Capex by 20% and Phillips 66 Defers Projects
Capital spending cuts are coming across the energy spectrum, with Chevron Corp. and Schlumberger Ltd. among the latest to respond aggressively to the unprecedented downturn in the oil and gas industry.
NGI The Weekly Gas Market Report
Total, Shell Cut Capex as Coronavirus Debilitates Operating Plans for 2020
Royal Dutch Shell plc has reduced capital spending by $5 billion and Total SA spending has been cut by $3 billion for the year in reaction to the pandemic and untenable oil prices.
Oil Demand Forecast to Slump Most in 40 Years as Total and Shell Revamp 2020 Plans
In reaction to the coronavirus pandemic and untenable oil prices, Royal Dutch Shell plc on Monday reduced capital spending by $5 billion and Total SA cut its spending by $3 billion.
NGI The Weekly Gas Market Report
U.S. E&Ps Facing ‘Extensive Credit Shock’ on Coronavirus, Low Oil Prices
As Lower 48 natural gas and oil producers signal cutbacks to spending and activity, the latest data on permitting indicates operators already are “clearly retreating” in the wake of a devastating decline in oil prices and the effects of the Covid-19 pandemic.
Appalachia’s EQT, Montage Each Cutting Expenses, Revising Midstream Agreements
EQT Corp. on Monday announced another cut in 2020 capital expenditures (capex) and said it is releasing 15% of current firm transportation (FT) obligations as the Appalachian pure-play continues to optimize its cost structure.
NGI The Weekly Gas Market Report
ExxonMobil Joins E&Ps, OFS in Rethinking Strategies as Coronavirus Upends Everything
The coronavirus pandemic has wreaked havoc on life in general, and for the energy industry, the next few months may prove to be make or break, as capital spending plans are cut and employees move to home offices.
NGI The Weekly Gas Market Report
Raymond James Sees WTI Falling into $20s in 2Q on Covid-19, Price War
Extraordinary measures are continuing to slam the oil and gas markets, as more North American producers, including EQT Corp. and EOG Resources Inc., are announcing cuts to spending while oil prices — and demand — are slaughtered.
4Q2019 Earnings: Chaparral (For Now) Sticking to Two-Rig Program Amid Strong Production Growth
Coming off a strong quarter in which production volumes exceeded guidance, Oklahoma pure play Chaparral Energy plans to maintain its two-rig program for the foreseeable future. However, the producer continues to monitor the current price environment to ensure spending is in line with revenues, management said.