Company Peer Group Analysis—North American E&P: Curtailments rise as capex slides
15 May 2020 - Upstream Companies and Transactions | Insight
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Andrew ByrneAndrew ByrneDirector
As the US oil price outlook has dropped, companies in the IHS Markit Company Research North American E&P peer groups have reduced their capex guidance. The one constant this year, regardless of price, is that the generation free cash flow remains a core objective for the US E&Ps. With 86% of our survey group having provided capex updates, we project that the US oil-focused E&Ps will cut spending this year by nearly 50%. The oil-focused companies are making more radical adjustments to their budget plans than the overall group. We believe that the lack of profitability and shortage of available storage capacity makes oil production curtailments a rational option.
Article Information
Companies
Antero Resources Corporation; Apache Corporation; Cabot Oil & Gas Corporation; Callon Petroleum Company; Canadian Natural Resources Limited; Chesapeake Energy Corporation; Cimarex Energy Co.; Comstock Resources Incorporated; Concho Resources Inc.; ConocoPhillips; Continental Resources, Inc.; Devon Energy Corporation; Diamondback Energy Inc.; EOG Resources Incorporated; EQT Corporation; Extraction Oil & Gas, Inc.; Gulfport Energy Corporation; Hess Corporation; Laredo Petroleum, Inc.; Marathon Oil Corporation; Matador Resources Company; Murphy Oil Corporation; Noble Energy Incorporated; Oasis Petroleum Inc.; Occidental Petroleum Corporation; Ovintiv Inc.; Parsley Energy, Inc.; PDC Energy, Inc.; Pioneer Natural Resources Company; QEP Resources, Inc.; Range Resources Corporation; SM Energy Company; Southwestern Energy Company; Whiting Petroleum Corporation; WPX Energy Inc.; XOG Operating, LLC
Locations
North America; United States of America
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Company Peer Group Analysis—North American E&P: Curtailments rise as capex slides