Items Tagged with 'billion'

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Upstream Margins Squeezed as Costs Escalate, Profits Decline, Says IHS

The global upstream industry's capital expenditures totaled $720 billion in 2013, 18% higher than a year before, but margins were squeezed as costs escalated and profits declined, an IHS Inc. analysis has found. Read More

ExxonMobil's Bakken, Woodford, Permian Driving U.S. Onshore

ExxonMobil Corp.'s U.S. onshore targets have proven to be a liquids-rich generator, and the company is continuing to prowl for attractive acquisitions, particularly in the Permian Basin, a top executive said Friday. Read More

ConocoPhillips Cutting Capex on Oil Prices, but 'Attractive' Returns in Eagle Ford, Bakken

ConocoPhillips, the largest independent in the United States, was the first on Thursday to announce plans to reduce capital spending to cope with the recent downturn in oil prices. Some drilling cutbacks will be made, but not within two of its best rate-of-return plays, the Eagle Ford and Bakken shales. Read More

TransCanada’s Formal Gas-to-Oil Filing Sets Off Battle Royale

TransCanada Corp. gave natural gas shippers a promise Thursday that the proposed partial conversion of its Mainline to oil service will only proceed when all their firm transportation requirements are fulfilled. Read More

Shell's Global LNG Sales Jump 16%

Global liquefied natural gas (LNG) developments are starting to show positive earnings momentum for Royal Dutch Shell plc as its strategy to invest for profitability over volumes begins to pay off, CFO Simon Henry said Thursday. Read More

BP Slammed on Oil Price Plunge But Still Beats Consensus

BP plc on Tuesday posted a 19% decline in third quarter profits from a year ago, in part impacted by the global oversupply in crude oil, and in part on a huge drop in profits from its near-20% stake in Russia's OAO Rosneft, but the producer still beat Wall Street consensus by a wide margin. Read More

Duvernay Production, Costs Varying Widely

Four years after inspiring a Canadian mineral rights leasing rush, a Louisiana-sized Alberta drilling target -- known as the Duvernay among geologists... Read More

Eagle Ford Is Multi-Billion-Dollar South Texas Growth Engine

Eagle Ford Shale oil and natural gas production generated more than $87 billion in economic output for Texas last year, and that contribution to the state's economy is projected by researchers to grow to $137 billion by 2023. Read More

Bakken Taking Backseat as Oklahoma Feeling Continental's Love

Continental Resources Inc. (CLR) executives made one thing clear during an investor conference on Thursday: the Bakken Shale may have brought it to the dance, but Oklahoma is taking it back home. Read More

Huge Benefits Projected for East Coast States With Atlantic OCS Drilling

Offshore oil and natural gas drilling in two offshore areas along the Atlantic seaboard could add $10.8 billion to $60 billion in value, and $2.1 billion to $11.6 billion in additional tax revenue for states along the East Coast, according to a report released Wednesday and funded by several right-leaning organizations. Read More