Topic: Murphy Oil Corporation

Murphy Oil Cuts Budget by 73% in 2016

Murphy Oil Corporation (NYSE: MUR) has cut 2016 capex once again down 30% from the initial budget of $825 million, a decrease of ~73% below 2015 spending. MUR is forecasting an increase in production from 111 MBoepd in 2015 to 180 to 185 MBoepd in 2016. 90% of Remaining Eagle Ford Locations Break-Even Below $40.50 per BblSpending in the Eagle Ford has decreased by 75% from 2015 to $203 million 55% of 2015 onshore production came from the Eagle Ford 20 wells planned...

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7 E&Ps Fighting Through 2015 Low Commodity Prices

As third quarter earnings season starts we take a look at where some operators are in their drilling and completion programs and begin to get a peak at 2016 expectations. Check back for updates as operators and oilfield service companies update their positions in the current environment.  Antero Resources Expects 25% Production Growth Antero Resources (NYSE: AR) continues to cover production with 94% covered for the 2015 year and looking ahead to 2016 they expect 25% to 30% production growth having 1,793...

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Eagle Ford: Top Shale Operators Issue New Drilling Permits

Drilling Permits Down -16.9% as Dimmit Increases and DeWitt Falls This past week, permits in the Eagle Ford fell 16.9% to 49, compared to the previous week's 59 permits. Decreasing activity this past week in De Witt only yielded 11 permits, compared to the previous week's 21 permits. County permitting continued in counties like La Salle and McMullen, with 7 permits a week for the last two weeks, and Frio County, which had 3 permits for each of the last two...

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$22 Billion Cut from 2015 E&P Budgets

There has been a lot of activity within E&P operators' budgets for 2015 in the face of low oil prices in the market. So far, about $22 billion has been cut from initial 2015 budgets, with more updates on the way. Continental Reduces Bakken Spend by $1 Billion Continental Resources (NYSE: CLR) has been chipping away at their budget. Their initial $4.6 billion budget for 2015 has been revised -41.3% to $2.7 billion. This revision shows a reversal in their strategy as they had originally announced a 1.1% increase...

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