Tag: Spending
Seven Generation Energy achieves record production in 2016
Planned capital spending between $1.5 and $1.6 billion Seven Generations Energy Ltd.’s first quarter production averaged 153,100 boe/d, up 73 per cent and setting a quarterly record, according to a press release. With record quarterly production and stronger commodity prices, funds from operations set a record at $272.3 million or 75 cents per share, an increase […]
Impact of lower gasoline prices on US household spending – JP Morgan
Savings are equivalent to half of average month’s rent or mortgage payment WASHINGTON – With US gasoline prices down 25 per cent year over year in 2015, middle income households spent $477 less at the pump, according to a new study by JPMorgan Chase Institute. For every dollar saved from lower gas prices, households decreased their spending on […]
Global oil upstream spend slashed by $1 trillion since price drop in 2014
Deepest capex cuts are in US Lower 48, where forecast capital investment has halved in 2016-17, falling by US$125 billion Global upstream development spend from 2015 to 2020 has been cut by 22 per cent or US$740 billion since the oil price started to drop two years ago, according to international consultancy Wood Mackenzie, and when cuts to […]
Deferred upstream project tally reaches 68 ($380 billion of investment)
Canada, Angola, Kazakhstan, Nigeria, Norway and US have largest inventory of delayed oil projects A new study says that in the last six months of 2015, 22 major projects and seven billion barrels of oil equivalent of commercial reserves have been deferred. Wood Mackenzie says the deferrals are on top of46 developments and 20 billion boe of […]
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