The company has executed share repurchases during the first quarter of approximately $440 million. For Western Midstream ... Management also reduced 2020 CAPEX …
Earnings
Sign In, Listen to the latest episode of our newest podcast, Weekly Estimated EIA Storage Injection/Withdrawal. Patterson said it expects "meaningful declines" in its drilling rig count in April.
The company is delaying phase 1 of its Greater Tortue Ahmeyim LNG project, located on the maritime border of Mauritania and Senegal, by about 12 months as restrictions to prevent the spread of the coronavirus across the globe affect project activities. The revised capital budget is now approximately $1.3 billion, nearly a 30 percent decline compared to the previous capital plan, according to a March 12 news release.
We noticed you've identified yourself as a student. Equinor postpones $5B share buyback program amid troubled market. Employees of Alerian are prohibited from owning individual MLPs. The company, which also intends to cut operating expenses for this year by around €400 million, said it may also reduce 2021 capital spending by €2.5 billion to €3 billion, or about 30% to 35% of its previously estimated figure. Phillips 66 on March 24 said it is slashing its 2020 consolidated capital spending by $700 million, to $3.1 billion, as a response to the recently challenged markets. Helmerich & Payne Inc. will reduce its future quarterly dividends to 25 cents per share, from 71 cents per share, and lowered its 2020 gross capital expenditures to between $210 million and $230 million amid the ongoing weak commodity price environment. It provides data on import and export volumes, plant capacities, production, consumption and chemical trade flows.
As a result of reduced capex and the additional cash flows from newly completed projects, midstream companies are nearing a free cash flow inflection. Plains All American will be reducing its
Whiting Petroleum Corp. adopted a revised capital budget range of $400 million to $435 million, which represents a $185 million or 30% decrease at the midpoint of the corporation's previous 2020 capital budget. Cenovus reduced its total capital investment for the year to a range of C$900 million to C$1.0 billion, from a previous range of C$1.3 billion to C$1.5 billion, according to a March 10 news release. Viper Energy Partners LP, another Diamondback unit, revised its 2020 average daily production guidance to a range of 22,500 boe/d to 27,000 boe/d.
Midstream service provider ONEOK Inc. is decreasing its 2020 growth capital guidance by $500 million at the midpoint amid the drop in oil prices.
In addition, Santos trimmed its forecast major growth capital expenditure by $350 million, and its 2020 cash production costs by $50 million. Solar and Wind Power by the Numbers, Essential Energy Insights - September 17, 2020, Rate case activity slips, COVID-19 proceedings remain at the forefront in August.
Ngls ISSN © 1532-1266 Against the backdrop of slowing production growth and a focus on capital discipline across energy, midstream capital spending plans have been in focus. |, Related topics: Cimarex to further shrink 2020 capital program by up to 50%. Oneok is also suspending work on its 100,000-bbl/d expansion of the West Texas LPG Pipeline LP in the Permian Basin; and the 200-MMcf/d expansion of the Demicks Lake gas processing facility, the Demicks Lake III project and related infrastructure in the Williston Basin. Riviera expects the postponed drilling program to have minimal impacts on its 2020 production and EBITDA since the wells were originally expected to start up in the fourth quarter, according to a March 9 news release. Antero does not anticipate the reduced capital budget will affect the corporation's 2020 production estimates, according to an SEC filing. OKE’s reduced spending, for instance, includes project deferrals across the Bakken, Permian, Gulf Coast, and Mid-Continent. Murphy Oil reduces 2020 budget to $950M, postpones projects, wells. On its most recent earnings call, MPLX (NYSE:MPLX) management emphasized its disciplined approach to capital spending and desire to grow free cash flow[1], backed up by its $600 million reduction to 2020 growth capex guidance relative to guidance from the December 2018 Investor Day. Management’s reference to free cash flow may not conform to our definition of cash flow from operations minus capex and distributions. Should Democrat nominee Joseph R. Biden Jr. unseat President Trump, management teams will scrutinize how a Biden presidency may impact the sector, said NGI’s Patrick Rau, director of strategy and research. The Permian-focused producer will monitor rapidly evolving market conditions and could opt to cut spending further. The company said it will focus its development activity within the economic core of the Delaware Basin and Eagle Ford. The refiner expects to preserve about $35 million of cash each quarter from the dividend suspension.
Given the continuing downward trajectory of oil prices, Cenovus Energy Inc. decided to further cut its 2020 capital spending by an additional C$150 million, raising the total reduction to C$600 million from the December 2019 guidance of C$1.3 billion to C$1.5 billion. The bulk of Exxon's planned spending cut will be in the Permian Basin, which will have an impact on the pace of drilling and well completions but not on resource recovery and value in the production area, the company said.
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