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Callon Slashes Production, Capex in Permian, Eagle Ford to Survive Oil Demand Destruction

Callon Slashes Production, Capex in Permian, Eagle Ford to Survive Oil Demand Destruction

If there are any exploration and production companies that are stepping up activity in the Lower 48 today, they’ve yet to step forward, as operators have pulled back, shut in and cut off funding to some of the most prized assets.

May 13, 2020
‘Big Cut Is Here,’ Says Yergin, as North American E&Ps Slammed by Coronavirus and Price War

‘Big Cut Is Here,’ Says Yergin, as North American E&Ps Slammed by Coronavirus and Price War

The energy sector was quick to take a red pen to the 2020 budget in March as the coronavirus turned into a pandemic and the price war continued overseas, but some operators are finding they have to cut deeper in the face of uncertain demand for oil and gas.

April 8, 2020
‘Big Cut Is Here,’ Says Yergin, as North American E&Ps Slammed by Coronavirus and Price War

‘Big Cut Is Here,’ Says Yergin, as North American E&Ps Slammed by Coronavirus and Price War

The energy sector was quick to take a red pen to the 2020 budget in March as the coronavirus turned into a pandemic and the price war continued overseas, but some operators are finding they have to cut deeper in the face of uncertain demand for oil and gas.

April 8, 2020

Alberta to Cut Oil Production in January to Boost Depressed Prices

The Alberta government Sunday announced a cut of 325,000 b/d off the province’s oil production as of Jan. 1, 2019, to try boosting severely depressed prices blamed on a glut backing up behind stalled pipeline projects.

December 3, 2018
Canada NatGas Suppliers in ‘Survival Mode’ as Lower 48 Shale Competes for Profits

Canada NatGas Suppliers in ‘Survival Mode’ as Lower 48 Shale Competes for Profits

Canadian natural gas producers will cut but not eliminate financial losses until late 2018 as stiff competition continues from U.S. unconventional supply sources, a private Ottawa-based business research agency predicted Monday.

March 22, 2017

Trump’s Order to Trim Executive Branch Could Target EPA

Two weeks after saying he wants to make federal agencies “do more with less,” President Trump signed an order Monday calling for reorganization of the executive branch of the government, a move that could affect the Environmental Protection Agency (EPA).

March 15, 2017
OPEC’s Oil Output Reduction Awaiting U.S. E&P Reaction

OPEC’s Oil Output Reduction Awaiting U.S. E&P Reaction

The Organization of the Petroleum Exporting Countries (OPEC) formally agreed Wednesday to its first global oil production reduction in eight years, announcing its members would cut output by 1.2 million b/d effective Jan. 1, which sent U.S. and Brent prices soaring for the day.

November 30, 2016
OPEC’s Tentative Agreement to Reduce Oil Output Still Needs Formal Vote

OPEC’s Tentative Agreement to Reduce Oil Output Still Needs Formal Vote

The 14-nation Organization of the Petroleum Exporting Countries (OPEC), which produces more than one-third of global crude oil output, reached a tentative agreement Wednesday to reduce output for the first time in eight years — to 32.5 million b/d from an August level of 33.24 million b/d.

September 28, 2016
OPEC Proposes First Oil Production Cut in Eight Years

OPEC Proposes First Oil Production Cut in Eight Years

Stung by continuing oversupply wrought by the U.S. unconventional revolution, the 14-nation Organization of the Petroleum Exporting Countries (OPEC) reached a tentative agreement Wednesday to reduce output for the first time in eight years — to 32.5 million b/d from an August level of 33.24 million b/d.

September 28, 2016

Exco Cutting Capex 69%, Directing Funds to Handful of Haynesville Wells

Exco Resources Inc. became the latest operator to make moves to preserve liquidity on Wednesday, slashing its capital expenditures (capex) budget for 2016 by more than two-thirds and announcing plans to spud and complete just a handful of wells in the Haynesville and Bossier shales.

March 30, 2016
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