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Tag Archives: ConocoPhillips

Anadarko Petroleum cuts 2015 capex by a third

Anadarko Headquarters

Anadarko Petroleum Corp. said it would reduce spending by about 33 percent this year, as the exploration and production company responds to lower crude oil prices. The company forecast capital investments in the range of $5.4 billion-$5.8 billion, excluding investments associated with its Western Gas Partners LP unit. Anadarko’s cut follows similar actions by other U.S. oil and gas producers ...

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Offshore projects safe from slowdown, for now

While low oil prices are causing rig stacking nationwide, offshore rig counts in the Gulf of Mexico are actually expected to rise this year. In many ways, the increase in drilling rigs predicted by Wood Mackenzie is no surprise. Offshore projects require extensive planning—a process which takes years—and billions of dollars in investments. These projects also produce much more oil, ...

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Officials: Parties moving ahead on Alaska gas project

JUNEAU, Alaska — Representatives of the companies pursuing a major liquefied natural gas project with the state said Wednesday that the project remains on track for a decision next year on whether to proceed to the next phase. But Bill McMahon with Exxon Mobil said that given the project’s magnitude, it will be essential to take the time needed to ...

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US shale leader EOG Resources confidence no match for cheap oil

WILLISTON, N.D., Feb 19 – One of the strongest leaders of the U.S. shale revolution has been humbled by plunging oil prices. EOG Resources Inc slashed its 2015 budget on Wednesday amid cheap crude prices and said its output will not grow this year, mere months after confidently saying it was strong enough to weather the downturn without cutbacks. Its ...

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BLM decision opens door for first oil production in nation’s largest reserve

The Obama administration has agreed to support a ConocoPhillips plan that would open the nation’s largest reserve to oil and gas activity, allowing an eight-mile gravel road to be carved through a creek setback meant to protect a traditional Native hunting area. Conservation groups decried the record of decision issued Friday by the Bureau of Land Management, saying it would ...

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ConocoPhillips calls for cooperation on lifting export ban (Videos)

The debate around whether the United States should lift its 40-year crude oil export ban has taken a backseat to the commotion of precarious oil prices. Nonetheless, the conversation is still at large and companies such as ConocoPhillips are using their advertising power to get Americans on board the pro-export movement. In a seven part statement that can be found ...

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Colorado oil, gas task force considers 91 pages of recommendations

DENVER — Gov. John Hickenlooper’s oil and gas task force sat down again Monday to discuss recommendations by task force members to solve the state’s increasing problem of urban drilling. The 21-member task force meets again today at the Colorado Convention Center, and is charged with finding a solution to the problem of the oil and gas industry intruding on ...

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Conoco, Occidental slash 2015 budgets amid crude price collapse

HOUSTON – ConocoPhillips <COP.N> and Occidental Petroleum Corp <OXY.N> on Thursday slashed exploration spending plans for this year, as the third- and fourth-largest U.S. oil companies attempt to cope with a steep slide in crude prices. Rising supplies of oil, from sources including North American shale basins, and weakening demand have flooded global markets with crude, sending prices plummeting almost ...

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OPEC, oil companies clash at Davos over price collapse

DAVOS, Switzerland- OPEC defended on Wednesday its decision not to intervene to halt the oil price collapse, shrugging off warnings by top energy firms that the cartel’s policy could lead to a huge supply shortage as investments dry up. The strain the halving of oil prices since June is putting on producers was laid bare when non-member Oman voiced its ...

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Aurora seeks control over drilling operations

Dwindling gas prices have halted ConocoPhillips’ oil drilling operations in Aurora, CO, according to an Aurora Sentinel article. The Houston-based corporation is one of many American companies pulling back fracking operations during the slowed energy market. “We’ve suspended our drilling temporarily, but there’s a lot of other work going on,” Jim Lowry, a spokesman for ConocoPhillips said in the report. ...

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