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.
While the dive in crude oil prices from more than $100 in June 2014 to a little over $50 this month has meant the cheapest gasoline prices since 2009, consumer spending from that windfall hasn’t outpaced deep cuts to the oil and gas sector.
Over 37.3 trillion gallons of water fell in Texas this past spring after heavy precipitation resulted in substantial flooding. While years of drought were literally washed away, the state experienced significant consequences of the flooding, including 21 deaths according to a report by NPR. The recent weather patterns exposed vital shortcomings in the state’s flood […]
But falling oil prices and a strong U.S. dollar threaten earnings for several domestic chemical companies, according to an economic and ratings outlook compiled by Standard and Poor’s Ratings Services.
Exxon Mobil Corp., Chevron Corp. and Total SA all passed on the first 14 shallow-water oil blocks auctioned by Mexico today in the country’s first-ever sale of territory in the Gulf of Mexico. Only one of Mexico’s first five oil blocks auctioned received a qualifying bid.
The so-called drop down deal will sharpen Dallas-based Energy Transfer Partners’ focus on the midstream sector, while also concentrating Energy Transfer’s retail and convince store business in Sunoco LP.
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