Expenditures

The huge capital expenditures (capex) by the U.S. energy sector in 2008 are unlikely to be seen again “for many years,” FBR Capital Markets analysts said last week. Shale natural gas now is a priority, but analysts said total domestic spending has to fall through 2010 to balance the market.

The huge capital expenditures (capex) by the U.S. energy sector in 2008 are unlikely to be seen again “for many years,” FBR Capital Markets analysts said Monday. Shale natural gas now is a priority, but total domestic spending has to fall through 2010 to balance the market, FBR analysts said.

Onshore natural gas producer GMX Resources Inc. said Monday it will cut its capital expenditures (capex) this year by more than half — to $70 million from an earlier forecast of $150 million — with 98% of the funds earmarked for East Texas.

The pipeline industry worldwide is set to ramp up substantial capacity additions between now and 2013, with natural gas pipelines responsible for 63% of total capital expenditures (capex) over the period, according to a report.

Joining Canada’s EnCana Corp. in carefully monitoring capital expenditures (capex) and exploration in the coming year are two more top independents headquartered in Calgary: Nexen Inc. and Petro-Canada Inc., which last week detailed their reduced spending programs.

Joining Canada’s EnCana Corp. in carefully monitoring capital expenditures (capex) and exploration in the coming year are two more top independents headquartered in Calgary: Nexen Inc. and Petro-Canada Inc., which this week detailed their spending programs.

Chesapeake Energy Corp. has “plenty of liquidity” and will be able to weather the economic storm by neutralizing capital expenditures (capex) over the next two years, CEO Aubrey McClendon told investors Monday. Even with flat spending, the Oklahoma City-based natural gas driller expects to achieve 5-10% production growth in 2009 and 10-15% gains in 2010.

Average household heating expenditures for the upcoming winter season are expected to be 15% more than last winter, increasing from an estimated $986 spent a year ago to a projected $1,137, the Energy Information Administration (EIA) said in its combined Short-Term Energy and Winter Fuels Outlook last Tuesday.

Average household heating expenditures for the upcoming winter season are expected to be 15% more than last winter, increasing from an estimated $986 spent a year ago to a projected $1,137, the Energy Information Administration (EIA) said in its combined Short-Term Energy and Winter Fuels Outlook Tuesday.