Forecast - Production | Capital Markets | Capital Expenditure | Impairment | Capex Decrease | Capital Expenditure - 2020
Oxy Cut Another $100 Million From 2020 Capex; Impairment
Email
Print 
Bookmark
According to a recent SEC filing, Occidental Petroleum (Oxy) has updated its 2020 capital plans and expected production (the company first announced its plans in November 2019).
Annual production is expected to grow 2% in 2020 (to ~1,373 MBOEPD) with the full-year capital budget of $5.2 - $5.4 billion (down $100 million from previous estimates).
Source: Shale Experts E&P Assets Database
Pro forma capital spending excluding discontinued operations and WES for the full-year 2019 is expected to be $8.2 billion, $400 million below Occidental’s 2019 pro forma capital budget of $8.6 billion.
November 2019 Capex Guidance.
Source: Oxy November 2019 Presentation, via Shale Experts Presentation Manager
Impairment
The company also said its expects to take a $1.65 billion impairment charge in Q4 2019 related to the sell down of its stake in Western Midstream Partners and other costs from its Anadarko Petroleum acquisition.
Related Categories :
Impairment
More Impairment News
-
Hess Corp. First Quarter 2021 Results
-
Suncor to Take $425MM Impairment Hit on White Rose Assets
-
Imperial Ditches Long-Term Unconventional Plans; Takes $1.1B Impairment Hit
-
Exxon IDs 2021 Capital Budget, Asset Consolidation Plans
-
National Fuel Gas Co. Fiscal Third Quarter 2020 Results
Gulf of Mexico News >>>
-
Seventeen (17) E&Ps; To Use 47 Frac Crews To Complete 2,800 Wells In 2024
-
These Permian Operators Plan to Complete/Frac 2,100 Wells IN 2024
-
Large E&P Chops Permian/Anadarko Basin Frac Activity by 30% In 2024
-
Permian E&P Ups 2024 Well Completed by +27% vs. 2023
-
Contrary to The Noise, U.S. Oil Production will Likely Growth 4-5% In 2024; A look Inside -
