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 Chamber of Commerce added its voice to the growing clamor to export American oil on Wednesday, with the group’s CEO casting a U.S. ban on foreign crude sales as antiquated policy that is on its way out.
With US oil production booming, pressure has increased to repeal an archaic law that prohibits the export of crude oil without a license. The law dates back to the early 1970s when OPEC nations imposed an embargo on exports to the US. That was a time when many in the nation were obsessed with predictions […]
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