Rex Energy Corp. plans to cut its capital expenditures significantly this year as it continues to explore options for repairing its balance sheet.
Articles from Capital
An evolving strategic focus on capital discipline by U.S. onshore exploration and production (E&P) companies that began quietly within the last couple of years is expected to become far more widespread in 2018, with nearly half of a sampled group of independent producers — mostly in the Permian Basin — generating free cash flow (FCF) in 2018, according to BTU Analytics.
The onshore exploration and production (E&P) industry is tightening up, tilting toward more capital discipline and free cash flow (FCF), which could give investors pause in how they value the group, according to an analysis by Raymond James & Associates.
A pivotal year awaits exploration and production (E&P) companies worldwide, with capital spending on course to increase 7% overall, led by a 15% gain in U.S. onshore-weighted budgets, according to Evercore ISI’s annual survey.
Anadarko Petroleum Corp. is taking another big bet on the U.S. onshore and deepwater during 2018, earmarking 85% of its planned $4.2-4.6 billion capital investments to domestic programs.
Houston-based EOG Resources Inc. plans to grow overall company crude oil volumes by 18% this year while keeping spending and dividends within cash flow at a $50/bbl average oil price, the company said.
Old habits die hard, and for exploration and production (E&P) companies long inclined to overspend, a commitment to curb outlay to align with cash flow may go out the window as they contend with higher prices for equipment and services, increasing labor shortages and peer pressure to build volumes.
Ohio pure-play Eclipse Resources Corp. plans to significantly increase its capital spend this year, guiding for a $300 million budget that builds on the lessons it learned last year and includes 11 super laterals — wells with extensions of 15,000 feet or longer.
Chevron Corp. sowed a second consecutive quarterly profit in the last three months of 2016 following sharp cost containment and a modest price rebound, but earnings still came in well below Wall Street consensus.
Laredo Petroleum Inc. said Tuesday it is budgeting $530 million for capital spending this year, nearly all for the Upper and Middle Wolfcamp formations of the Midland sub-basin of the Permian, with an eye on raising production volumes by 15% over 2016.