Companies in the news ///

Anadarko Petroleum has cut its planned capital expenditure for 2015, by about 33%, to $5.4 billion. “In the current market, we believe it is prudent to reduce capital investments and position the company for the future, rather than to pursue year-over-year growth,” said Al Walker, Anadarko’s chairman, president and CEO. The company will cut its short-cycle, U.S. onshore rig activity by 40%, and defer about 125 onshore well completions. Sixty percent of company spending will be directed toward onshore activities in the U.S. International and deepwater operations will receive 22% of the budget, while international and deepwater exploration will get 10% of the funds. Image courtesy of Anadarko.

Log in to view this article.

Not yet a subscriber?  Get started now for immediate access to this content and more.

World-Oil-Free-Trial-2015.jpg

World-Oil-Premium-Subscribe-2015.jpg

Already a subscriber but don’t have an online account? Contact our customer service.