Earlier in the year, before initial declines in service costs, Anadarko had estimated it would take $3 billion in capital expenditures to keep production levels flat. Now, Walker said, it would take about $2.7 billion, and there is still room for improvement.
The oil and gas industry faces winnowing options for getting rid of the wastewater that flows out of wells, as the EPA moves to block municipal treatment facilities from accepting it and earthquake fears prompt some states to restrict underground disposal.
FMC Technologies executives say its joint venture with another subsea oil-equipment maker has been welcomed by operators but it will have to continue to cut its workforce in coming quarters as activity stagnates.
SUVs have come a long way to deliver performance, style and efficiency features normally reserved for sedans. However, there are still SUVs out there that have excellent performance and technological features, but fail to deliver on the efficiency end.
While China has sought to replicate the U.S. shale boom, the nation last year cut its 2020 shale gas production target to about a third of its original estimate amid difficult geology, lack of infrastructure and limited exploration rights.
“There was no reason to subsidize in a country that is as rich as the U.A.E.,” said Nasser Saidi, former chief economist at Dubai International Financial Centre and head of Nasser Saidi and Associates.
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