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.
Rep. Dave Camp’s plan to overhaul the nation’s tax code would deal major blows to independent refiners and the nation’s biggest oil and gas companies, blocking them from taking some long-cherished deductions and forcing them to use an accounting method that would hike their tax bills when crude prices climb. But independent oil and gas producers as well as midstream pipeline companies dodged big hits in Camp’s long-awaited proposal.
Offshore wind turbines could help prevent destruction caused by hurricanes by draining the storms of their deadly winds, according to a new scientific study that highlights a previously unknown benefit of the technology.
The government’s long delay in drafting mandates for stronger tankers to haul crude across the nation’s train tracks is paralyzing companies that want to invest in safer cars, a Democratic lawmaker charged Wednesday.
The Obama administration is on track this week to release a final environmental analysis that would help pave the way for the first seismic studies in decades to pinpoint oil and gas off the East Coast, as well as potential drilling in the 2020s.
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