Despite takeaway constraints in the Permian Basin, Concho Resources Inc. unveiled a capital program of $3.5 billion at the midpoint for 2019, up from $2.55 billion this year, with most of spend devoted to large-scale projects and a 25% exit rate increase in crude oil production.
Articles from Spending
Growing Pains for EQT as Costs Soar, More Execs Depart
EQT Corp. on Thursday said it would cut its 2018 production guidance and increase spending after a frenzied stretch of drilling in the wake of its Rice Energy acquisition put stress on its supply chain, logistics, pad operations and sent costs soaring.
Offshore Oil, Gas Spending Forecast to Usurp U.S. Onshore Investments in 2019
A healthy surge in finalizing offshore oil and natural gas projects is expected next year and likely will topple the onshore unconventional industry as the leader in spending, an analysis by Rystad Energy indicates.
Ring Energy Boosts Permian Capex Almost 25% to Upgrade CBP, Delaware Infrastructure
Permian Basin explorer Ring Energy Inc. has increased its capital spending for 2018 by nearly 25% as it builds out infrastructure in the Delaware sub-basin and Central Basin Platform (CBP) to deliver more natural gas and oil to market.
Anadarko Directing 85% of ’18 Capital to DJ, Permian Delaware and GOM
Super independent Anadarko Petroleum Corp., which can pick and choose from an array of global prospects, is finding the best options in its own backyard, with plans to again direct nearly all of its 2018 capital to the United States.
Upstream Ready to Thrive, Not Merely Survive in New Year, Says Wood Mackenzie
Oil and natural gas operators are entering 2018 in the best shape since oil prices collapsed in late 2014, Wood Mackenzie researchers said Thursday.
U.S. E&Ps Seen Raising 2018 Capex by 15%, with Canadian Spend 9% Higher, Says Evercore
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 Gearing 85% of 2018 Capex to U.S. Onshore, Deepwater GOM
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.
Permian Oil, NatGas Spending Estimated to Jump 400% by 2021 to $40B
Capital spending in the Permian Basin is set to shoot up 400% over the next five years to $40 billion by 2021, as operators raise more rigs and expand development, a Texas industry group said Thursday.
U.S. Onshore E&Ps Leading Charge in Global Spending
Global producers, led by U.S. operators, are opening their wallets again, but oil prices still may not be high enough to support sustainably stronger investments beyond 2017.