|2020-03-20 来源： 中国石化新闻网|
李峻 编译自 原油新闻
ConocoPhillips slashes their budgets deeper
ConocoPhillips said Wednesday it will cut $700 million from its planned 2020 capital spending as producers continue to slash their budgets amid a new, dire oil environment of less than $25/b.
ConocoPhillips said it will slice its 2020 spending by more than 10% down to about $5.9 billion and that its production guidance will fall roughly 2% to a mid-range of 1.23 million boe/d.
"Our industry is clearly experiencing an unprecedented event brought about by simultaneous supply and demand shocks," ConocoPhillips CEO Ryan Lance said in a statement. "The actions we are now taking reflect an acknowledgement of current events as well as uncertainty around the timing and path of a recovery."
The largest independent North American producer, ConocoPhillips had already touted itself for its more conservative spending plans. Lance said the company will slow its activity in US shale plays and defer drilling in Alaska, while also reducing its 2020 share repurchasing plans by an additional $1.5 billion.
"None of us have ever seen what's currently taking place in the energy markets," Lance said in a Wednesday conference call.
But he also noted that ConocoPhillips could become an interested buyer of distressed companies and assets once prices begin to stabilize.