Exploration & Production | Capital Markets | Capital Expenditure
50 Companies to Spend $35 Billion in Canada in 2015
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Canada's 2015 capital spend for E&P companies will be down by around 17% compared to the year previous. Lower prices are prompting a reduction in spending across the board. Many E&P companies are expecting a drop in service costs by at least 30%, and deferring much of their spend to the second half of the year as a consequence.
A look at 50 Canada based E&P's shows only 4 will increase their capital spend compared to 2014 levels.
45 companies spent a combined $17 billion in 2014, dropping 20% to a combined $13.5 billion in 2015.
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The five largest capital budgets in 2014 and 2015 saw spending drop 15% from $25.9 billion to $22 billion in the same period. These five companies account for almost twice the…
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