Anadarko Slashes Capital Spending for 2017 as E&P Companies Face the Return of Low Oil Prices
SUGAR LAND--July 26, 2017--Researched by Industrial Info Resources (Sugar Land, Texas)--U.S. crude oil production has surged in 2017, with heavy activity in domestic shale plays following a spate of strong investments from leading exploration and production (E&P) companies. But such rapid growth often is a double-edged sword, and Anadarko Petroleum Corporation (NYSE:APC) (The Woodlands, Texas) felt the other side of the blade in second-quarter 2017: The E&P leader slashed $300 million from its capital budget for the year after it became clear that the production boom contributed to a global glut that has kept oil prices in the doldrums. Industrial Info is tracking more than $11.8 billion in active projects involving Anadarko.
Within this article: Details on Anadarko's global project slate, including projects in the Gulf of Mexico and Mozambique.
Other companies featured: BP plc (NYSE:BP), Chevron Corporation (NYSE:CVX), ConocoPhillips (NYSE:COP), Royal Dutch Shell plc (NYSE:RDS.A) (The Hague, Netherlands)
