apache corp. irion wolfcamp barnhart

Moody’s: North American oil companies cut capital spending 41 percent in 2015

on
North American exploration and production companies have collectively cut their capital budgets this year by 41 percent, according to a new analysis published Tuesday by Moody’s Investors Service.
Ryan Lance, chairman and CEO of ConocoPhillips, addresses the audience during the Geopolitics of Natural Gas at Rice University, Friday, Feb. 21, 2014, in Houston. (Marie D. De Jesús/Houston Chronicle)

ConocoPhillps slashes spending plans for coming years

on
The largest independent producer of oil and gas had been signalling plans to spend an average of $16 billion per year, but earlier this year, the company whittled its 2015 capital expenditure budget by $2 billion to $11.5 billion.
(AP Photo/Xinhua, Jin Liangkuai)

CGG open to Technip partnership after spurning takeover approach

on
CGG has lost more than half its market value in the past year as oil majors including Total SA slash spending on exploration.
Photographer: Rich Press.

How Europe’s oil companies are profiting from the slump

on
Although better known for their oil fields, refineries, and petrol stations, BP Plc, Royal Dutch Shell Plc and Total SA are also the world’s biggest oil traders.
A Petronas logo is seen near its twin towers in Kuala Lumpur, Malaysia.  (AP file photo/Lai Seng Sin)

Petronas prepares $7 billion bond as borrowing costs soar on oil

on
Petronas is issuing into Asia’s worst dollar-bond market this year amid a global slump in oil prices and debt concerns surrounding a Malaysia-backed investment firm.
Chevron CEO John S. Watson in Houston in April 2014. (Mayra Beltran/Houston Chronicle)

Chevron to sell $15 billion of assets, cut spending amid price slump

on
Chevron said it would put about $15 billion of assets up for sale through 2017 — up from a previous $10 billion target — and cut capital spending incrementally to roughly $30 billion in 2017.
(Ty Wright/Bloomberg)

Houston’s Dune Energy seeks bankruptcy protection

on
Dune Energy, a Houston-based exploration and production company, filed for bankruptcy protection in federal court Sunday.
(Eddie Seal/Bloomberg)

Downgrades, offerings add $30 billion to energy junk bonds

on
The energy sector’s high-yield bonds – so-called “junk bonds” considered at risk of default – have climbed to $247 billion in the last two months, the largest share of any industry with 17.5 percent of high-yield bond market.
(AP Photo/The San Antonio Express-News, Bob Owen)

Hedge funds are losing faith in oil rally while inventory swells

on
Oil producers are spending less, idling rigs and delaying wells to stem output that the government predicts will reach a four-decade high this year.

NYMEX group launches new contract aimed at crude hoarders

on
Producers and middlemen have stashed away record amounts of crude since prices began falling last summer, seeking to save today’s cheap crude for sale at a higher price later on.