Articles tagged Capex

The U.S. oil and gas sector maintained robust profits and upstream capital expenditures (capex) in 2023, despite a substantial drop in commodity prices, according to a new analysis by Ernst & Young LLP, aka EY.

North American upstream activity remained sluggish through the first half of the year, with little optimism things would change before 2025, according to an industry survey.

Upstream natural gas and oil explorers in Canada are expected to increase their capital spending over 2023, but not by much, according to a top industry group.

Natural gas and oil executives are likely to “prudently navigate” through turbulent commodity prices this year before sailing into smoother seas heading into 2025, according to industry analysts.

Chevron Corp. has earmarked $14 billion for organic capital investments and $3 billion for its affiliates in 2023, with most of the fundings budgeted for the Gulf of Mexico and the Permian Basin.

ExxonMobil is boosting its capital investments over the next five years around the world, prioritizing the Permian Basin, Brazil, Guyana and LNG, with a “sizable increase” in lower-emissions initiatives, executives said Thursday.

Denver-based independent PDC Energy Inc. has updated its 2022 production and spending guidance to the high side, citing year-to-date performance and the timing of closing its acquisition of Great Western Petroleum LLC.

Permian Basin pure-play Diamondback Energy Inc. is not budging on plans to keep oil production flat this year, despite increased market tightness because of Russia’s invasion of Ukraine, said CEO Travis Stice.

Ring Energy Inc. is off to a strong start to the year, drilling six Permian Basin wells during the first quarter and placing four new wells into production, the independent exploration and production (E&P) company reported.

A jump in forecasted natural gas production, along with inflationary pressures, will find CNX Resources Corp. spending more this year to execute a long-term plan that remains on track after the company turned in a solid 2021.