Tag Archives: capex

BP and Shell updated their spending outlooks Tuesday morning. The two Majors echoed recent reports from their peers by again lowering planned capex spending. As Independents selectively spend a little more in 4Q16 and prepare to reverse their budget cuts next year, the Majors continue to systematically lower their total spend. Optically, …

Latin American deepwater exploration and development is largely driven by the two large NOCs in the region. Here lately, these NOCs have been slamming the brakes, particularly in Brazil where Petrobras is trying to recover from scandal that rivals Enron. Both NOCs are pruning their rig portfolios, resulting in negative demand for Latin American floaters. …

Anadarko made a big splash on Monday afternoon, announcing the $2bn buyout of Freeport McMoRan’s deepwater GOM assets. It’s a big deal for the GOM and for Anadarko’s position in the GOM. But what we found most interesting about the announcement is how Anadarko spun the deal into an onshore growth narrative. …